State, Local Taxes Set Records… Income, Sales, Property ALL Hit New Highs

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Real state and local income, sales and property taxes all hit records in 2017, according to data released this week by the Census Bureau.

State and local governments collected a record $404,509,000,000 in individual income taxes in 2017, according to the Census Bureau. Before 2017, the greatest level of individual income tax revenues collected by state and local governments occurred in 2015, when those governments collected $399,933,270,000 in individual income taxes (in constant 2017 dollars converted using the Bureau of Labor Statistics inflation calculator).

State and local governments also collected a record $386,153,000,000 in general sales and gross receipts taxes in 2017. Prior to that, the largest state and local general sales and gross receipt tax collections took place in 2015, when state and local governments collected $385,904,260,000 in those taxes (in constant 2017 dollars).

At the same time, state and local governments collected a record $573,064,000,000 in property taxes in 2017. Before 2017, the largest property tax collections took place in 2016, when state and local governments collected $551,936,350,000 in property taxes (in constant 2017 dollars).

Property taxes also hit a record in 2017 on a per capita basis. During the year, the record $573,064,000,000 in property taxes that state and local governments collected from property owners equaled $1,759 per each of the 325,719,178 men, women and children in the United States.

www.cnsnews.com/news/article/terence-p-jeffrey/state-and-local-income-sales-and-property-taxes-hit-records-2017

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