As if Florida needed one more reason to explain why it is one of the fastest-growing states in the country, WalletHub offered another.
The financial analysis website noted that the Sunshine State posts the fourth-lowest tax burden in the country.
WalletHub’s research looked at how aggressively all states tax their residents.
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The website’s findings were based on three components at the state level: property taxes, individual income taxes, and sales and excise taxes, which were considered as a portion of total personal income.
The lightest tax burden fell on residents of Alaska, who see just 4.93% of their personal income go to the tax man.
Alaska was followed by New Hampshire (5.63%) and Wyoming (5.70%) before getting to Florida, at 6.05%.
Blue states inhabited the other end of the spectrum.
All but one (Vermont) of the ten states with the heaviest tax burdens have Democratic governors.
The top five in that group[ included New York (12.02%), Hawaii (11.80%), Vermont (11.12%), Maine (10.74%), and California (10.40%).
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“Red states have a lower tax burden than blue states, on average,” WalletHub concluded.
The website reported that that remained true for individual methods of taxation.
According to WalletHub, Maine has the highest property tax burden, while Alabama has the lowest. California has the highest individual income tax burden, while seven states (including Texas, Florida, and Washington) have the lowest. Washington has the highest sales tax burden, while New Hampshire has the lowest.
Florida’s lack of an income tax carried much of the burden for the state’s ranking.
While the Sunshine State tied for the lowest income tax rate, it also ranked 29th in heaviest property tax burden and 20th in sales and excise taxes.
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