Illinoisans understand well, the amount of state and local taxes they pay each year. What you might not know is how we compare with other states.
The online consumer and financial website, WalletHub ranks Illinois with having the highest effective state and local taxes in the nation at 14.9 percent. The ranking was based on a Median U.S. Household income of $58,082, with an estimated annual tax burden of $8,653. WalletHub ranks Illinois’ current flat income tax rate of 4.95 percent at 39, our real-estate tax at 50 and our sales and excise taxes (taxes on products such as gasoline, tobacco and alcohol) in the middle of the pack at 25.