Counties can levy an additional sales tax of no more than 1.0%
Current average sales tax (with local taxes included): 6.246%
Common Exceptions at State Level:
Prescription Medicine: Exempt
Unprepared Foods: Exempt
Gasoline Tax: 54.10 cents/gallon (Includes all state, local, and federal taxes)
Diesel Fuel Tax: 60.10 cents/gallon (Includes all state, local, and federal taxes)
Personal Income Tax
Personal Income Tax Rate Range: Five brackets from 3.0% to 6.5% (on income over $60,000)
Standard deduction: None
Personal Exemption Allowance: $2,000. Dependent Exemption: $2,000
Itemized Deductions Allowed?: Yes, subject to limitations.
Social Security: Exempt for single filers with Adjusted Gross Income less than $50,000 (married filing jointly $100,000).
401Ks/Defined contribution employer retirement plans: Taxable at ordinary income rates*
Private pensions: Taxable at ordinary income tax rates*
Public Pensions: Up to $2,000 exempt on in-state pensions; remainder is taxable at ordinary income tax rates*
Active Duty Pay: National Guard and reservist pay is exempt as well as some active duty military pay.
Military Retirement Pay: Exempt
Military Disability Pay: Exempt
VA Dependency & Indemnity Compensation Benefits: Exempt
Income tax comments: *Exemption of income of up to $8,000 may be available if 65 and over or 100% disabled. Retirement income for police, sheriffs, and firefighters is exempt. Some municipalities charge payroll, income, or interest and dividend taxes.
Local municipalities average 0.58% of the property's assessed value.
Calculation of assessed value: 60% of fair market value
Relief programs for:
65 and over or Disabled: Reduction of up to $20,000 of assessed value is available if meet certain income requirements. Deferral programs also available.
Low-income: If property tax is over 4% of income, may receive credit for amount over 4%. Maximum credit is $1,000.
Disabled Veterans/Surviving Spouse: May be 100% tax-exempt
Personal Property Tax: Yes. Rates and exemptions vary.