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Tax season is here and, according to a recent report, American families in the nation's largest cities will be shelling out 15% or more of their income, and that doesn't even include federal taxes.
Jacksonville is #5 on the list for cities with the lowest tax burdens:
Taxes for family earning $25,000: $2,956 (26th lowest)
Taxes for family earning $150,000: $6,429 (4th lowest)
Unemployment rate: 7.7% (21st highest)
As residents of Florida, individuals and families living in Jacksonville pay neither a state nor local income tax. Partly because of this, the tax burden for wealthier families remained low in 2011. A typical family of three with two sources of income, earning $150,000 per year, would have paid 4.3% of its income on state and local taxes — less than all but four other cities. However, a family earning just $25,000 per year would have had to pay 11.8% of its annual income in taxes. Florida's 6% sales tax accounts for the majority of the state's tax revenue.
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