Forbes.com released an article on March 30, 2009 that ranks the Top 10 states who tax their residents the most (when looking at all state tax revenues combined and averaged per person). Although MA ranked #7 and RI did not rank at all, I found the comment made by Forbes in their article positive overall.
The exact quote from the article reads:
7. Massachusetts
Population: 6.4 million
Average tax burden per person: $2,953
At $12.4 billion, or $1,925 per person, Massachusetts garnishes more in personal income taxes (both at the gross and individual levels) than just about any state in the country. Still, Bay Staters pay very low property tax based on Census figures, though combined with the pinch from sales tax ($929 per person), it's enough to land the state in the top 10.
Source: Forbes.com "Where Americans are Taxed Most"
Matt Woolsey, 3/30/2009
Regionally, our team sees many families moving from RI to MA, for lower Real Estate taxes. Generally speaking, we (personally) find that Real Estate taxes are generally 50-100% higher in RI, than MA for similar homes. In conjunction, the size of most parcels of land tend to be larger in MA than properties in RI.
Wednesday, April 15, 2009
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