HARTFORD, CT (WFSB) – In terms of the highest tax rates in the country, Connecticut is second to only one.
Tuesday, the personal finance website WalletHub.com released its yearly report on “States with the Highest & Lowest Tax Rates.”
It ranked Connecticut as having the 2nd highest rates.
WalletHub said it looked at overall effective tax rates, income tax, real estate tax, vehicle property tax, and sales and excise tax.
Here’s how those metrics contributed to Connecticut’s rank, where 1 was the lost and 25 was considered average.
- 50th in overall effective state and local tax rate
- 24th in income tax
- 48th in real-estate tax
- 47th in vehicle property tax
- 19th in sales & excise taxes
The only state with higher tax rates was Illinois. New York was third.
The state’s with the lowest rates were Montana, Delaware and Alaska.
Read the complete results of WalletHub’s study here.
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