Counties can levy an additional sales tax of no more than 6.5%.
Current average sales tax (with local taxes included): 7.705%
Common Exceptions at State Level: None
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)
Cigarette Tax: $2.03/pack of 20
Low income, disabled, or taxpayers 65 and over may be eligible for a sales tax credit. 100% disabled veterans, their surviving spouse (not remarried) or authorized household member may be eligible for a sales tax exemption.
Personal Income Tax
Personal Income Tax Rate Range: Six brackets from .5% to 5.0% (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
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*
Active Duty Pay: Exempt
Military Retirement Pay: May exclude greater of 75% or $10,000, but not to exceed amount included in federal Adjusted Gross Income. This exclusion is separate from other retirement income.
Military Disability Pay: Exempt
VA Disability Dependency & Indemnity Compensation Benefits: Exempt
SBP/SSBP/RCSBP/RSFPP: Same as retired pay.
Income Tax Comments: *Retirement income of up to $10,000 may be exempt from taxes.
Local municipalities average 0.90% of the property's assessed value.
Calculation of assessed value: 100% of fair market value.
Relief programs for:
Owner-occupied: Up to $1,000 reduction of assessed value allowed. Limit of 3% increase annually on assessed value. Additional exemption of $1,000 if income is less than $20,000.
65 and over or totally disabled: Up to $200 refund if income is less than $12,000. Also may be eligible for freeze on value if income less than median income for county of residence.
100% Disabled Veterans/Surviving Spouse (not remarried): Up to 100% tax exemption available depending on service-connected disability percentage.
Personal Property Tax: Yes. Rates and exemptions vary.