but have you guys talked about property taxes? Where do they rank on that metric?
We haven't talked about it as much since its not a state level tax and the issue was how supposedly Prop 13 had destroyed the state budget and "starved" CA.
But I found some data.
CA has the tenth highest median property tax in dollar terms and the 17th highest as a percentage of income. But its near the bottom in terms of percentage of house prices, because CA's house prices are high.
articles.moneycentral.msn.com
In other non-income taxes CA is near (but not at) the top in gasoline taxes, below average in taxes on cigarettes, and beer, and it has the highest statewide sales tax.
articles.moneycentral.msn.com
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California
The Facts on California's Tax Climate
Here are some basic facts on California's tax system and how it compares to other states:
Tax Freedom Day Arrives on April 20 in California Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2009, California taxpayers had to work until April 20 to pay their total tax bill (ranked 4th highest nationally), 7 days later than national Tax Freedom Day (April 13). The Tax Freedom Days of neighboring states were: Oregon, April 9 (ranked 26th nationally); Nevada, April 8 (ranked 29th nationally); and Arizona, April 10 (ranked 23rd nationally).
Full study of Tax Freedom Day, nationwide and in each state
California's State/Local Tax Burden Above National Average
Estimated at 10.5% of income, California's state/local tax burden percentage stands at 6th highest nationally, above the national average of 9.7%. Californians pay $5,028 per capita in state and local taxes.
California's 2009 Business Tax Climate Ranks 48th
California ranks 48th in the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes; individual income taxes; sales taxes; unemployment insurance taxes; and taxes on property, including residential and commercial property. The ranks of neighboring states are as follows: Washington (12th), Oregon (9th), Arizona (22nd), Nevada (3rd) and Hawaii (24th).
California's Top Individual Income Tax Rate Is the Highest in the Nation
With seven brackets and a top rate of 10.3 percent for those earning over $1,000,000. California's individual income tax has the second-highest rate and one of the most highly progressive structures in the nation. In 2006, California's individual income tax collections were $1,418 per person, which ranked 6th highest nationally. Since most small businesses are S Corporations, partnerships, or sole proprietorships, they pay their business taxes at the rates for individuals. That makes California's taxes on small businesses some of the most burdensome in the nation.
California's Corporate Income Tax Rate is the Highest in the West
Corporations looking to relocate, or even establish, a business in the West may shy away from California, as the state's 8.84% flat rate is the highest corporate tax rate in the West. Nationally, only eight states have a higher top corporate tax rate than California. In 2007, state-level corporate tax collections (excluding local taxes) in California were $307 per capita, which ranked 6th highest nationally.
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taxfoundation.org |
