Grundy Reporter

Illinois has been identified as the state with the highest tax burden in the United States, according to a recent study by WalletHub. The report analyzed all 50 states and the District of Columbia, focusing on real estate, vehicle property, income, and sales excise taxes. Illinois ranked last overall, placing 50th for real estate taxes and 47th for income taxes.

The state's real estate tax rate is nearly 8%, second only to New Jersey, significantly exceeding the national average. WalletHub's findings indicate that Illinois' taxes are 51.8% higher than the U.S. average, with New York following at 34.9%. In contrast, Alaska, Delaware, and Wyoming have some of the lowest tax rates in the country.

The survey also highlighted that while high taxes are a concern for many Americans, inflation remains a more pressing issue for 70% of respondents. Additionally, nearly one-third of those surveyed would prefer jury duty over filing their taxes.

For residents and businesses in Illinois, these high tax rates add to existing economic challenges within the state. The designation as the most taxed state has sparked further debate about its implications for Illinois' economic future.