WalletHub: R.I. has 8th-highest tax burden in U.S.

RHODE ISLAND is home to the eighth highest tax burden in the nation, 9.91%, according to a WalletHub study released Tuesday. / PBN FILE PHOTO

PROVIDENCE – As the April 18 Tax Day looms, a new study finds Rhode Island residents have the eighth-highest tax burden in the nation at 9.91%.

The WalletHub report released on Tuesday found the Ocean State’s property taxes are the fifth most burdensome in the country, at 4.48%, as a share of total state personal income. Individual income taxes accounted for 2.31% of Rhode Islanders’ personal income, No. 28 nationally, and sales and excise taxes made up 3.12% of total personal income, No. 34. 

New York had the highest tax burden in the country at 12.75%, followed by Hawaii with a 12.7% percent tax burden, Maine at 11.42%, Vermont at 11.13%, and Minnesota 10.2%. 

Connecticut’s tax burden was ranked seventh in the nation at 10.06%. 

- Advertisement -

Massachusetts’ tax burden was 21st in the nation at 8.8%. The commonwealth’s property taxes were 12th in the nation at 3.49% of residents’ personal income. Individual income taxes accounted for 3.35% of Massachusetts residents’ personal income, No. 6, and sales and excise taxes made up 1.96% of total personal income, No. 45 nationally. 

Alaska had the lowest tax burden in the nation at 5.05%, followed by Tennessee at 5.75%, Delaware at 6.22%, Wyoming at 6.32% and New Hampshire at 6.41%. 

WalletHub, a personal finance website based in Washington, D.C., compared 50 states across the three tax types of state tax burdens — property taxes, individual income taxes and sales and excise taxes to determine tax burden. 

No posts to display