Govt 14: Key Income sources for state governments from individuals (v1.0)
In this essay, I briefly describe the key income sources for state governments for 2023 or 2024 from individuals which is part of the cost of living for individuals in that state. My focus is more on what a senior citizen has to pay out, rather than what the state actually uses that revenue for. I live in Hawaii. I had collected this information for my own reasons and decided to share. Property taxes are often levied by a county, and significantly influence the operational capacity of local services and infrastructure. Property tax is on the assessed value (less deductions like seniors or homeowners) which may be lower than the market value. Hawaii has the second lowest property tax rate in the US, but property prices are high, so the government gets quite a bit of money from this. Louisiana has the lowest rate. New jersey has the highest and New Hampshire and Texas are in the top three. Florida and California are in the middle. California (my old state) had three time...