Idaho ranked #11 for best overall tax burden by state for 2018
Every year WalletHub.com compares all 50 states in three categories - individual income taxes, property taxes, and sales/excise taxes. What residents pay as a combination of these three categories determines a simple ratio known as "TAX BURDEN."
Tax burden is different than "tax rate." Tax rates are the starting point and then vary widely depending on each individual's circumstances, exemptions., deductions, location of local residency, etc.
The study determined that Idaho ranked #39 (or 11th best) for overall tax burden by states.
Of interesting note is that on March 12, 2018, Idaho Governor C.L. Butch Otter signed House Bill 463. House Bill 463 reduced both personal and corporate income tax rates. Each personal income tax bracket was reduced by 0.475 percent. The corporate income tax rate was also reduced by 0.475 percent, resulting in a new rate of 6.925 percent, down from 7.4 percent.
Idaho actually reduced taxes for its residents in 2018!
While Idaho has one of the more favorable tax environments in the country, it is only one reason among many we argue people "Live Better in North Idaho"
In fact, most people do not move to North Idaho simply based on the favorable tax burden.
Other reasons people "Live Better in North Idaho" can be found here: Why North Idaho