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I live in Seattle, I pay no state tax. My property tax is $5k/year which is and additional 5% at 100k income, but I elected into that and we don't have property
by grogenaut 9y ago
I live in Seattle, I pay no state tax. My property tax is $5k/year which is and additional 5% at 100k income, but I elected into that and we don't have property tax in the discussion, lets just assuming rental in both locations. Social security caps out iirc. There's still a 20% difference between the effective tax rates.
- pmorici 9y agoWashington State and local government has a sales tax of close to 10%. So say you make 100k per year, your effective tax rate is 25% add 5% property tax and ten percent sales tax that's 40%.
- votepaunchy 9y agoYou aren’t paying sales tax on your full salary unless taking on tremendous debt.
- grogenaut 9y agoAs sibling said, the 10% is just on what you buy, which hopefully isn't 100% of your salary. Also 40% is still a lot less than 50% but is also not a OOM like I said above.