Tuesday, August 14, 2018
Business

You’re likely not living in the Florida county with the lowest taxes

Want to stay in Florida but pay the lowest taxes? You’ll likely need to move.

All 10 of Florida’s "lowest tax-burdened" counties are north of the Tampa Bay area, according to some nifty number crunching from the financial technology company SmartAsset.

For Tampa Bay residents, your closest option is Citrus County, ranked eighth, thanks to lower property and fuel taxes. For the state’s lowest taxes, you’ll have to go a little farther north and join the 17,000 residents of Dixie County, tucked between two of Florida’s most famous rivers, the Suwannee on the south and the Steinhatchee to the north.

Three panhandle counties — Holmes, Calhoun and Liberty — round out the top four. The others in the top 10: Hamilton, Jackson, Union, Washington and Taylor.

Hernando came in at No. 22 and Pasco at No. 38, out of the state’s 67 counties. Pinellas (47), Manatee (53) and Hillsborough (56) came in lower, largely thanks to higher property and fuel taxes.

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Highest taxes in the state? That goes to the residents of Monroe County, home of the famous Florida Keys. But even Monroe isn’t that expensive compared to many other counties around the country. It ranked a middling 1,642 out of more than 3,100 counties included in Smart Asset’s index.

If you really love forking over money to the government move to New York or New Jersey, home to nine of the 10 most heavily taxed counties in the nation, including No. 1 Suffolk County.

The lowest taxes in the nation were paid by the 6,000 or so residents of Yukon Koyukuk and their fellow Alaskans in nearby Lake and Peninsula, thanks to ridiculously low fuel, property and sales taxes. Five South Dakota counties round out the top seven.

SmartAsset’s number crunchers compared the counties using information from several sources including the American Community Survey, the American Petroleum Institute, and GasBuddy. They then used the data to create an index, with a score of 100 being the county with he lowest tax burden.

You can see how they did it here.

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Published: 08/14/18