It's tax time again, so where are the best and worst housing markets for taxes?

Homeowners in the housing market with the heaviest overall tax burden paid a percentage of their income seven times greater than the burden borne by the housing market with the lowest overall tax burden.

HousingWire looked through the data collected for 2012 by the District of Colombia’s Office of Revenue Analysis, data that is gathered by the city for the purpose of comparing its tax revenue strategy to other major cities.

The Office of Revenue Analysis gathered together information on the estimated property taxes, sales taxes, and state income taxes of major cities in all 50 states, and here’s what we dug out. (The data exclude federal income taxes.)

(Click here to see the full Office of Revenue Analysis report.)

We looked at their estimates for a hypothetical family of three, and the highest and lowest household income in their data set – the lowest being $25,000 and the highest being $150,000.

For our list rankings, we averaged out the tax rate across all the offered household income options – $25,000, $50,000, $75,000, $100,000 and $150,000 for the ranking. For simplicity’s sake, we list the highest and lowest income levels only.

Here’s what we found.

Click below for the five housing markets with the highest tax burden.

5. Columbus, Ohio

Taxes for family of three earning $25,000: $2,953
Taxes for family of three earning $150,000: $22,333

Some rankings show Columbus to be business-friendly – MarketWatch ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008 and in 2012 Forbes Magazine ranked the city as the best city for working moms. fDi Magazine (a partnership with Financial Times) ranks the city as No. 3 for "Cities of the Future", and No. 4 for most business-friendly.

But the city is not so tax-friendly. The overall tax burdens for households with higher earnings were ranked with the highest of all cities surveyed. The city has aggressively high property taxes. The rate is 3.57%, the highest of any city on the Office of Revenue Analysis’s list.

4. Baltimore, Md.

Tax burden for a family of three earning $25,000: $2,950
Tax burden for a family of three earning $150,000: $24,747

Like Columbus, Baltimore's property tax burden is onerous — $13,772 for a household earning $150,000. They also paid more than 5% of their income to state and local income taxes.

3. Milwaukee, Wisc.

Tax burden for a family of three earning $25,000: $3,245
Tax burden for a family of three earning $150,000: $26,296

Property taxes are the killer in Brew City. The city also squeezes residents with a high progressive state income tax on top of that. Governor Scott Walker has been trying to lower state and property taxes when not fighting off recall movements.

2. Philadelphia, Pa.

Tax burden for a family of three earning $25,000: $3,794
Tax burden for a family of three earning $150,000: $25,317

The rich and the poor in the City of Brotherly love get hit by the tax man. A household with $25,000 income paid $788 in income taxes alone. A $100,000 household paid $11,806 in property taxes. The city in 2012 launched a new tax valuation system and valuations went haywire.

And the housing market with the heaviest tax burden is…

1. Bridgeport, Conn.

Tax burden for a family of three earning $25,000: $4,001
Tax burden for a family of three earning $150,000: $33,208

Almost one in every four dollars earned by the residents in Bridgeport is taken from households earning more than $100,000 a year. It’s driven almost wholly by property taxes, but given the number of households in the housing market earning more than twice that, it’s not as bad as it sounds. A state income tax of 5.2% kicks in for households earning more than $150,000 a year as well. 

Click below for the 5 best housing markets with the lowest tax burden.

5. Jacksonville, Fla.

Tax burden for a family of three earning $25,000: $2,956
Tax burden for a family of three earning $150,000: $6,429 

A household with $150,000 income paid a little over 4.3% of its income towards state and local taxes – mostly sales and property taxes. A household with $25,000 income would pay 11.8% in taxes – also mostly driven by sales tax.

4. Fargo, N.D.

Tax burden for a family of three earning $25,000: $2,228
Tax burden for a family of three earning $150,000: $7,908

A household making $25,000 would pay less than 9% of its income in taxes, coming in at an amount less than all but one other city in the survey. The boom in oil and gas jobs of late has supplied a large chunk of the state’s revenue, and this is a state historically hostile to burdensome taxation.

3. Houston, Texas

Tax burden for a family of three earning $25,000: $2,709
Tax burden for a family of three earning $150,000: $6,571

A household earing $150,000 in 2012 in Houston paid less than 5% of its income in taxes. The Lone Star state’s hostility to taxation means that there are no state or city income taxes. While the state does have a sales tax, for the household making $150,000, that means $4,300 in taxes less than markets where there is an income tax.

2. Anchorage, Alaska

Tax burden for a family of three earning $25,000: $2,236
Tax burden for a family of three earning $150,000: $5,095

Anchorage taxes the heck out of ice. Or more specifically, the land under the ice. Even with the property tax rates, the lack of state or city income tax and the absence of a sales tax means that Anchorage is the market with the second lightest tax burden.

And the housing market with the lightest overall tax burden is…

1. Cheyenne, Wyo.

Tax burden for a family of three earning $25,000: $2,424 (5th lowest)
Tax burden for a family of three earning $150,000: $4,702 (2nd lowest)
 

If you didn’t think that the housing market with the lightest tax burden would be found out West, welcome to America, recent arrival. With a tax burden on the highest earning household of just 3.1% of income and a burden of 9.7% for the lowest earning household. Go west, young man, indeed.

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