Amid Rising Cost of Living, Idaho is Still Cheap in One Category
You can't argue that Idaho is the fastest-growing state in the country. People are moving here in droves. Which increases housing costs, traffic, and overall just smacks you kind of hard in the wallet.
While we can't fix that, there is a sliver of good news. Idaho comes out on top when it comes to paying taxes on average!
Wallethub.com has done the math and ranked every U.S. state based on how much they pay in taxes in any given year. Let's see how we did compared to some of our neighbors:
How Much States Pay In Taxes
Let's dig into the math a little bit to find out precisely why Idaho was rated so high on this list. The average household in Idaho is paying around $5,300 per year on state and local taxes. That's 21% lower than the national average. It may not seem like a big number, but that's huge savings over the course of a year.
In Washington, they're paying almost 12% more than the national average just in taxes. We don't even want to factor in housing costs and gas prices. We know Idaho has it pretty rough in those areas, but Washington is another thing entirely.
Do you feel like you're paying less in taxes living in Idaho than some of your friends in different parts of the country? Working on this year's taxes, are you noticing any big increases or decreases in what you owe? Let us know on Facebook, so we can see if these numbers are truly accurate for most Idahoans.