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Wallethub: CT 2nd in nation for highest taxes

Source: WalletHub

NORWALK, Conn. – This is a press release, presented in the format in which it was sent:

With Tax Day looming large and sweeping tax reform passed in recent months, WalletHub today released its 2018 Taxpayer Survey as well as its yearly Tax Rates by State report in order to help people better understand this confusing time of year.

WalletHub’s Taxpayer Survey features a wide range of fun facts about people’s opinions on tax prep, the IRS and more, while the tax rate report compares the cost of the average person’s various obligations in the 50 states and the District of Columbia. Surprisingly, WalletHub found that states with no income tax aren’t always the cheapest overall, as they tend to have higher sales and property taxes.

You can find highlights from both below, followed by the full list of WalletHub’s 2018 taxpayer resources:

Tax Rates in Connecticut (1=Lowest; 25=Avg.):

  • 50th – Overall Effective State & Local Tax Rate
  • 19th – Income Tax
  • 48th – Real-Estate Tax
  • 47th – Vehicle Property Tax
  • 18th – Sales & Excise Taxes

2018 Taxpayer Survey

  • Fewer than 4 in 10 people are happy with President Trump’s tax reforms. 69% of people think the reforms are better for corporations than consumers, and 67% think they benefit the rich more than the middle class.
  • 90% of people think the government currently does not spend their tax dollars wisely.
  • 30% of people say making a math mistake is their biggest Tax Day fear, edging out not having enough money (29%) atop the list.
  • 37% of people would move to a different country for a tax-free future. 24% would get an “IRS” tattoo, 22% would switch political parties, and 15% would take a vow of celibacy.
  • 29% of people like their in-laws more than the IRS, 13% prefer cold showers, and 9% would take a traffic jam.

WalletHub’s 2018 Taxpayer Resources

  1. What To Do If You Can’t Pay
  2. Pros & Cons Of Paying With Credit
  3. Tax Scams & Tips for Avoiding Them
  4. Last-Minute Tax Tips
  5. Property Taxes by State

A press release is an announcement drafted by an organization to publicize its news. NancyOnNorwalk takes no responsibility for the content of this press release.

6 comments

Sue Haynie March 14, 2018 at 6:16 am

This is no surprise at all and it’s adversely affecting property values and home sales and quality of life.

The suggested increase of 3.7% to Norwalk’s property taxes for 2018/19, with little to show for it, will certainly not help.

Rick March 14, 2018 at 1:18 pm

With all the trouble GGP is having this week , this must be welcomed news , Ct has no money , no growth ,no ambition and our politicians have no brains. Gas tax and tolls was not part of the numbers wen GGP started was it?

First time since 2011 has a REIT canceled a payout, now grocery stores no longer in malls are flotation devices.

This tax stuff is not sitting well with shareholders, now a suggested increase of 3.7% to Norwalk’s property taxes for 2018/19 does this effect the mall? a trick question .

greg March 14, 2018 at 2:02 pm

Stealing a little thunder from our Democratic Senator.
These Tax stories are a myth put out by the other side. Connecticut is growing faster than most other areas in the country. Norwalk is exploding with growth.
I have your back I am standing up for you Norwalker’s!

Patrick Cooper March 14, 2018 at 3:41 pm

@greg – nice contribution. I love me an anti-chicken little. Perhaps this is an interview test to be the next communications/ PR foil for the mayor – tell people that oil is water. CT is growing? Taxes are a myth? Perhaps you have not seen the news (or is everything today considered one form of propaganda or another) that CT has suffered an exodus of residents over the past 3+ years. The numbers of course do not include the folks moving in who don’t wish to be counted on any census. Perhaps you are not aware that math is absolute – so 2 plus 2 is pretty much 4 every time – unless that’s two bags of drugs and 2 police officers – then it’s 5-10 years.

I really suggest you read. CT has been in the top 5 worst total tax burdens for – well – just about forever. Essentially – NY, CT, and NJ lead the pack – with the largest tax issues property, income, sales, and let’s not forget – we have the highest gas tax in the nation – and no transportation fund. But hey – I like your sunny attitude. Might just have to download a Monty Python song as my ring-tone – “Always Look on The Bright Side of Life”. …..If Norwalk seems jolly rotten, there’s something you’ve forgotten, and that’s to laugh and smile and dance and sing…..

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