Editors' pick: Originally published April 12.
With the tax deadline coming up on the horizon, Wallethub.com has ranked each state's tax burden across several categories. Of course, a state with high taxes might not be as burdensome to you, depending on your individual circumstances. For example, you may not mind that New Jersey has the highest property tax (as a percentage of personal income)-especially if you don't own property there. If you do, you might be incentivized to move to Oklahoma, which has the lowest property tax relative to income and ranks 45th overall for total tax burden.
How does all of this map onto the presidential election shenanigans? Red states have a lower total tax burden than blue states-with nearly a 13 point differential based on Wallethub.com's rankings. Politics aside, here is an overview of the ten states with the highest tax burdens.
Total tax burden: 10.19%
Property tax burden: 4.26%
Individual income tax burden: 2.76%
Total sales and gross receipts tax burden: 3.17%
Call it the Prairie State or call it the Land of Lincoln, but Illinois is the land of taxes. Chicago's breadbasket cracks the Top 10 with a fitting 10.19% total tax burden-roughly three points away from New York's top slot. It also ranks ninth out of 50 for property tax burden at 4.26% and 15th for individual income tax burden at 2.76% All of this may seem too high (especially for those Americans who enjoy a lower tax burden), but Illinois is-it should be noted-a main economic driver for the Midwest. That responsibility doesn't come cheap, so to speak.