Chart of the Day: America's most taxed big cities
Think New York City is the most burdensome place to live in America? Or maybe Los Angeles?
Forget it, not even close.
The office of the chief financial officer of the District of Columbia produces an annual report looking at combined tax burdens (income, property, sales and auto) at five different household income levels for a family of three in the largest city in each state.
At the top income level—$150,000—the biggest combined tax burden was in Bridgeport, Conn., at a whopping 22.1 percent. (In fact, Bridgeport has the highest burden at every income level above $50,000).
Sliced another way, by the dollar value of the combined tax burden at all income levels, Bridgeport was almost $16,500 more expensive than the next city on the list.
At the bottom of the table, the lightest tax hit was in Cheyenne, Wyo., at 4.2 percent. (Cheyenne was the cheapest place to live at every income level above $75,000).
As for NYC and LA, they came at 11th and 16th, respectively.