spot_img

Report: Pennsylvania 19th highest tax burden nationwide

Date:

spot_img

(The Center Square) — Pennsylvania’s total tax burden has gotten worse relative to other states, keeping residents more tax-burdened than the average American.

A report from the Independent Fiscal Office found that Pennsylvania’s total taxes per capita ranked 19th overall at $6,710.

While Pennsylvania fares better than New York, New Jersey, Maryland, and Delaware, it lags behind Ohio and West Virginia in total state and local taxes per capita.

The mix is a slight decline from last year when Pennsylvania ranked 21st overall.

The majority of taxes hit residents in the form of income and property taxes at 26.8% and 25%, respectively. Sales and use taxes are third at 19.2%. That mix is close to the national tax burden average; property taxes are 27% of the tax mix, followed by income taxes (26%) and sales and use taxes (24%).

For most taxes, Pennsylvania was in the top half of the national average; its lowest tax was its sales and use tax, ranked 36th nationally.

In the near future, tax policy may get greater publicity. Gov. Josh Shapiro argued in his budget address that the state is on strong fiscal footing and can spend more to better prepare for the future. But legislative Republicans have called the administration’s budget assumptions unrealistic and warned that a future 46% income tax hike could follow.

Pennsylvania’s aging population, too, presents some challenges. State officials have warned of a “silver tsunami” as the ratio of retirees to working residents grows, causing the spending of government services to outpace tax revenues coming in. The Independent Fiscal Office, too, has warned of budget deficits approaching in the new future.

Read the Black Chronicle Black History Edition for Free! Click Below

Read the Black Chronicle Black History Edition for Free! Click Below

spot_img
spot_img

Subscribe

Share post:

Popular

More like this
Related

Unincorporated King County minimum wage hike bill passes out of committee

(The Center Square) – A proposed bill that would...

Ohio taxpayers losing hundreds of thousands of dollars to scams

(The Center Square) – At least 23 government offices...

Illinois legislator pushes to end ‘ageist’ mandatory driving tests for seniors

(The Center Square) – State Rep. Jeff Keicher and...

Georgia officials planning massive overhaul of Atlanta-Athens link

(The Center Square) — Georgia officials are planning a...