Mon February 11, 2013
H&R Block: Louisville 7th Most Taxed City in America
H&R Block has released a graph showing what many have said for years, Louisville is one of most tax burdened cities in the country.
The findings are based on a study conducted by the chief financial officer of Washington, D.C.
That reported was touted by Councilman Ken Fleming, R-7, as a reason for Mayor Greg Fischer's administration to think twice about pushing a local option sales tax.
H&R shows that a hypothetical family of three with an annual income of $50,000 pays an estimated $6,346 in taxes annually.
That means Louisville residents carry a 12.7 percent tax burden, ahead of Boston, Massachusetts at 12.3 percent and just behind Chicago, Illinois at 12.8 percent.
The reason for the difference is that the rate for taxpayers varies across the country due to different state and local income rates as well as property, sales and automobile taxes.
Recently, the top two legislative leaders in Frankfort—Democratic House Speaker Greg Stumbo and Republican Senate President Robert Stivers—came out against the local option sales tax proposal.
Fischer told WFPL that idea is "not a tax," but is a choice that would give voters in Kentucky's cities the ability to invest in special infrastructure projects.