15 US cities where wealthy families pay the least in taxes
- For wealthy families wanting to save on taxes, these 15 cities in Washington, Texas, Florida, and Indiana are the best, according to data from GOBankingRates.
- The data considers state and local taxes, the costs of homes, median incomes, and community factors like crime rates and school quality.
- Suburbs near cities in Florida, Texas, and Washington dominate the list, especially since these states have no state income taxes.
- Most of the cities on the list are suburbs of cities like Houston and Dallas. By living just outside of cities, the data shows that wealthy families can avoid paying high city taxes, and enjoy lower crime rates, better schools, and bigger homes for less.
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Wealthy families live all over the US, but they aren't always paying the same amount of taxes.
GOBankingRates looked at the cities that offered the best tax benefits for wealthy citizens, along with the median household income, price of a top-tier home, and the quality of schools and crime rates. It found that while there were opportunities across the country in Alabama, Massachussetts, and Indiana for families to take advantage of low taxes, the best places for wealthy families were overwhelmingly suburbs in Texas.There are a few reasons why suburbs and Texas made the list so frequently. Texas is one of nine states in the US that doesn't impose income taxes on residents, along with Florida and Washington (states which also had suburbs on the list). In the suburbs, it's far easier to find better home values and lower taxes than inside the city limits.
These suburbs were ranked based on the factors above, with taxes being the No. 1 factor. Here are the 15 places in the US where wealthy families pay the least in taxes: