By Tyler Durden
Authored by Ben Szalinksi via IllinoisPolicy.org,
Chicago is tied with two other cities for the highest sales tax rates for a major U.S. city, adding another superlative for taxation of residents and visitors.
Chicago is home to the highest combined state and local sales tax rates in the nation, according to a new report from the nonpartisan Tax Foundation. Chicagoans pay a combined state and local sales tax rate of 10.25%. The city has held this dishonor since the Cook County Board passed a sales tax hike in 2016.
Long Beach and Glendale, Calif., share the top spot with Chicago. The report examined cities with over 200,000 people.
Chicagoans pay the city 1.25%, the county 1.75%, the transit authority 1% and the state 6.25% – for a total sales tax rate of 10.25%. The Tax Foundation specifically noted that many Chicago-area residents will shop online or in the suburbs to avoid paying the city’s high taxes. Even that work-around is being disrupted as online market places will be required to collect the state’s sales tax beginning Jan. 1, 2020.
When you add up sales, property and all the other local taxes and fees, Chicagoans are the most-taxed residents of any …read more
Source:: Zero Hedge