Thursday, October 21, 2010

The Recall: Omaha is 10th Highest Taxed City

US News and World Report has a interesting report at http://realestate.msn.com/article.aspx?cp-documentid=16844035, High-tax places to live. Guess what they found? Omaha is the 10th highest taxed city in the country! AND THE SURVEY WAS DONE BEFORE THE LATEST ROUNDS OF MAYOR SUTTLE TAX INCREASES!!!!

The report was based on the typical taxes paid at a few income levels and looked at four taxes, individual income tax, real property tax on residential property, general sales and use tax, and automobile taxes, including gasoline tax, registration fees, excise tax and personal property tax. Federal income taxes are not taken into account.

Top 10 cities included: Philadelphia; Baltimore; Bridgeport, Connecticut; Detroit; Indianapolis; Milwaukee; Des Moines; Louisville, KT, and; Columbus, Ohio.

The report calculated Total Share of Income from these taxes at three different income levels. Here is what they found:
  • $25,000 Income Level - Total Share of Income = 11.10%

  • $75,000 Income Level - Total Share of Income = 10.40%

  • $150,000 Income Level - Total Share of Income = 11.30%

Don't look for any improvement in that ranking. With a 15% increase in Omaha City property taxes in Mayor Suttle's first two budgets, even more is on the way.

No comments: