Counties cannot levy an additional sales tax of more than 2.75%
Current average sales tax (with local taxes included): 6.008%.
Common Exceptions at State Level:
Prescription Medicine: Exempt
Unprepared Foods: Exempt
Gasoline Tax: 44.40 cents/gallon (Includes all state, local, and federal taxes)
Diesel Fuel Tax: 47.40 cents/gallon (Includes all state, local, and federal taxes)
Personal Income Tax
Personal Income Tax Rate Range: 5.0% (4.5% effective 2023)
Standard deduction, Single Filing Status: $2,770. Married Filing Jointly: $5,540
Personal Exemption Allowance: N/A
Itemized Deductions Allowed?: Yes, subject to limitations
Social Security: Exempt
IRAs: Taxable at ordinary income tax rates*
401Ks/Defined contribution employer retirement plans: Taxable at ordinary income tax rates*
Private pensions: Taxable at ordinary income tax rates*
Public Pensions: Taxable at ordinary income tax rates*
Active Duty Pay: Exempt.
Military Retirement Pay: Taxable at ordinary income tax rates*
Military Disability Pay: Exempt
VA Disability Dependency & Indemnity Compensation Benefits: Exempt
SBP/SSBP/RCSBP/RSFPP: Taxable at ordinary income tax rates*
Income Tax Comments: *Retirement pay is exempt if taxpayer retired in 1997 or before. After 1997, $41,110 of retirement and annuity is exempt. Additional exclusions may be available. State allows county- and city-level income tax.
Local municipalities average .86% of the property's assessed value.
Calculation of assessed value: 100% of fair market value; inspected no less than every four years
Relief programs for:
65 and over or Disabled Veteran: $40,500 of assessed value may be exempt ($46,350 effective Jan. 1, 2023)
Personal Property Tax: Yes. Rates and exemptions vary.
Inheritance & Estate Taxes: There is an inheritance tax of up to 16%, but most family members are exempt. There is no estate tax.