Download - Are South Carolinians Over Taxed?
ARE SOUTH CAROLINIANS OVER TAXED?
Ashley Brinson
SOUTH CAROLINA TAX COMPARISON: South Carolina was compared to five states
within the United States when making a determination of over taxation.
Comparisons were based on states with similar populations, states discussed frequently in class, and one at random.
Taxes analyzed in this comparison include; state sales tax, gasoline tax, cigarette tax, and property tax.
STATE POPULATIONS:
Alabama; 4,779,736
Arizona; 6,392,017
Louisana; 4,533,372Michigan;
9,883,640
New York; 19,378,102
South Carolina; 4,625,364
COMPARISON OF GASOLINE TAX:Al-abama13% Ari-
zona
12%
Louisana
13%Michigan23%
New York28%
South Carolina
11%
STATE Gasoline Tax
Alabama20.9
cent/gal
Arizona 19 cent/ gal
Louisiana 20 cent/gal
Michigan36.1
cents/gal
New York44.4
cents/gal
South Carolina16.8
cents/gal* Based on 2011 taxes
GASOLINE TAXES; APRIL 2010
COMPARISON OF CIGARETTE TAX:
Alabama4% Ari-
zona19%Louisana3%
Michigan25%
New York42%
South Carolina
6%
STATE Cigarette Tax
Alabama 42.6 cent/20pk
Arizona $2/ 20pk
Louisiana 36 cent/20pk
Michigan $2.61/ 20pk
New York $4.35/ 20pk
South Carolina 57 cents/ 20pk * Based on 2011 taxes
STATE CIGARETTE EXCISE TAXES -- UNITED STATES, 2009
COMPARISON OF SALES TAX:
STATE Sales Tax
Alabama 4% - 12%
Arizona 6.6% - 7.5%
Louisiana 4% - 10.75%
Michigan 6%
New York 4% - 8%
South Carolina 5% - 8%
Al-abama20%
Arizona18%
Louisana18%
Michi-gan15%
New
York
15%
South
Carolina15%
* Based on 2011 taxes
SALES TAX; SEPTEMBER 2009
PROPERTY TAXES: Alabama –
The state does not collect taxes on personal property such as boats and computers. Each city and county may levy has its own millage rate. Homeowners 65 and older are exempt from all state property taxes.
Arizona – There is no state property tax. Tax jurisdictions set tax rates,
which may vary considerable from one area to another. Property tax is administered by county assessors. Single homeowners 65 and older who earn less than $3,750 and married couples who earn less than $5,500 are eligible for a tax credit of up to $502.
Louisiana – Taxes are assessed and collected at the local level -- 64 parishes
and 7 municipal districts. The Louisiana State Tax Commission has a regulatory role regarding property assessments. Property assessments are based on 10% of the fair market value of the property. Homeowners receive a homestead exemption in the amount of $7,500
PROPERTY TAXES CONT’D: Michigan –
Property in Michigan is generally assessed at 50% of its true cash value. Some seniors, disabled persons, veterans, surviving spouses of veterans and farmers may be able to delay paying property taxes. It depends on the county of residence and your income level.
New York – Property taxation is limited to real property. New York
State law gives local governments and public school districts the option of granting a reduction on the amount of property taxes paid by qualifying senior citizens. This is accomplished by reducing the assessed value of residential property owned by seniors by 50%. . If a person's income is more than $29,000 but less than $32,400, the exemption is 5%.
PROPERTY TAXES CONT’D: South Carolina –
South Carolina imposes a casual excise tax of 5% on the fair market value of all motor vehicles, motorcycles, boats, motors and airplanes transferred between individuals. Property tax is assessed and collected by local governments. Both real and personal property are subject to tax. The market value of a legal residence and up to 5 acres of surrounding land is assessed at 4%. For homeowners 65 and older, the state's homestead exemption allows the first $50,000 of their property's fair market value to be exempt from local property taxes.
AVERAGE TEACHER SALARIES
STATE RANKING
Alabama43rd
Arizona23rd
Louisiana44th
Michigan7th
New York5th
South Carolina
30th
Al-abama; 40,347
Arizona; 44,672
Louisana; 40,029
Michigan; 54,739
New York; 57,354
South Car-
olina; 43,011
FINDINGS OF TAX COMPARISONS: Based on information from various sources it
is concluded that South Carolinian’s are not over taxed.
Many taxes implemented throughout the state are geared towards tourists and are not a direct imposition on residents.
Residents of the state may feel over taxed, or unfairly taxed, however it is simply not the case.
REFERENCES: en.wikipedia.org www.census.gov nces.ed.gov http://
retirementliving.com/RLtaxes.html