Counties can levy an additional sales tax of no more than 7.0%.
Current average sales tax (with local taxes included): 8.8%
Common Exceptions at State Level:
Prescription Medicine: Exempt
Groceries: Exempt as of August 2024
Gasoline Tax: 38.40 cents/gallon (Includes all state, local, and federal taxes)
Diesel Fuel Tax: 44.40 cents/gallon (Includes all state, local, and federal taxes)
Limited income, disabled, or taxpayers 65 and over may be eligible for a sales tax credit. 100% disabled veterans, their surviving spouse or authorized household member may be eligible for a sales tax exemption.
Personal Income Tax
Personal Income Tax Rate Range: Six brackets from .25% to 4.75% (on income greater than $7,200)
Standard deduction: Single Filing Status: $6,350. Married Filing Jointly: $12,700
Personal Exemption Allowance: $1,000. Dependent Exemption: $1,000
Itemized Deductions Allowed?: Yes, subject to limitations
Retirement Income
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: Civil service retirement income (in lieu of Social Security) exempt. Other income is taxable at ordinary income tax rates*
Military Pay
Active Duty Pay: Exempt. Includes National Guard and Reserve
Military Retirement Pay: Exempt
Military Disability Pay: Exempt
VA Disability Dependency & Indemnity Compensation Benefits: Exempt
SBP/SSBP/RCSBP/RSFPP: Can exclude up to $10,000*.
*Retirement income of up to $10,000 may be exempt from taxes.
Property Tax
Local municipalities average 0.82% of the property's assessed value.
Calculation of assessed value: 100% of fair market value.
Relief programs for:
65 and Over or Totally Disabled: Up to $200 refund if meet income requirements. Also may be eligible for freeze on value if income less than median income for county of residence.
Disabled Veterans/Surviving Spouses: 100% tax exemption with 100% service-connected disability.
Personal Property Tax: Yes. Rates and exemptions vary.
Premium and Life members can consult our financial staff for education and consumer advice.
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