H&R Block: Boston makes list of ‘The 10 Most Taxed Cities in America’
If you hate taxes, Bridgeport may not be the best place to call home, suggests a new H&R Block infographic titled, “The 10 Most Taxed Cities in America.”
Bridgeport, Conn., topped the list of most taxed cities while Boston was ranked 10th.
H&R Block put together its infographic based on a study undertaken by the District of Columbia. The study was devised to see how the tax burden in Washington, D.C., compared with the tax burdens of large cities in 50 states.
In compiling its list of most taxed cities, H&R Block zeroed in on a section of the D.C. study that focused on a hypothetical family of three with an annual household income of $50,000. The next step was to calculate how much that household would pay in income, property, sales, and auto taxes for each of the cities reviewed by the study. The total amount of taxes paid was then calculated as a percentage of income for households located in each of those cities.
In Bridgeport, a family of three would have 24.5 percent of its annual income consumed by taxes. In Boston, a similar family would pay 12.2 percent of its annual income in taxes, according to the study.
Other cities that made H&R Block’s top 10 list included Newark, Philadelphia, Los Angles, and Chicago.
One reason why H&R Block released the infographic on most taxed cities is because part of its business is focused on offering tips on how people can reduce their tax burdens.Chris Reidy can be reached at email@example.com.