(WTNH) – With Tax Day approaching, Americans are thinking about their taxes and wondering how they will affect their finances. A report released by WalletHub discusses the 2022 Tax Burden by state, which measures the proportion of total personal income that residents pay toward state and local taxes.
WalletHub compared the 50 states based on three components of the state tax burden to determine which states tax their residents most aggressively. Those three components include property taxes, individual income taxes, and sales and excise taxes.
According to the report, Connecticut ranks 7th overall with a total tax burden of 10.06 percent. CT also ranked 7th overall for property tax burden.
The top 10 states with the highest tax burdens are:
- New York: 12.75%
- Hawaii: 12.70%
- Maine: 11.42%
- Vermont: 11.13%
- Minnesota: 10.20%
- New Jersey: 10.11%
- Connecticut: 10.06%
- Rhode Island: 9.91%
- California: 9.72%
- Illinois: 9.70%
To read the full report, click here.