Taxes vary around the country. While federal rates stay the same, state taxes can have a big impact on your earnings and cost of living. Taxes in North Carolina are roughly in the middle of the country, median-wise.
If you’re paying state taxes in North Carolina, things could be a lot worse according to a new study by wallethub. The tar heel state ranks 24th in the nation in overall tax burden. This is slightly less than the national average.
Overall, Illinois, Connecticut, Nebraska and New York ranked as the top states for highest taxes, while Alaska, Delaware and Montana took the top three spots for lowest taxes. North Carolina is comfortably in the middle.
North Carolina’s effective state and local tax rate on median households is 10.64%. The national average is slightly higher at 10.78%. Of course, this assumes median household income and median home costs. For a better, more accurate look at your costs; download the City vs City App!
What’s City vs City?
City vs City is a powerful cost of living app that will show you the real cost of living in your city. Medians and averages are helpful, but City vs City examines real costs at the zip code level for an accurate, detailed look at your true cost burdens.
Taxes in North Carolina? City vs City factors in all major state and local taxes, after-income earnings, housing and transportation costs, and more. Then, our app compares your cost to another city of your choosing.
If you are living in North Carolina and thinking of moving elsewhere; City vs City will stack up your chosen cities and give you a side by side comparison. As a result, you’ll see which city offers you a better cost of living arrangement given your lifestyle.
No matter where you live or where you’re looking to move: Download the City vs City app today and start comparing!