Tax Comparison: Ballard, WV vs Sacred heart, MN
Understanding Your Tax Burden
This page compares the three main types of taxes between Ballard, WV and Sacred heart, MN: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Ballard, WV
$2,003
Based on a $419,200 home
Rate: 0.4778%
Sacred heart, MN
$4,258
Based on a $419,200 home
Rate: 1.0158%
| Data | Ballard, WV | Sacred heart, MN |
|---|---|---|
| Effective Property Tax Rate | 0.4778% | 1.0158% |
| Estimated Property Tax | $2,003 | $4,258 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Ballard, WV are $2,255 lower than in Sacred heart, MN for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
WV
2.36%-5.12%
Single: $4,921
Married: $8,858
MN
5.35%-9.85%
Single: $5,319
Married: $9,574
| Data | WV | MN |
|---|---|---|
| Tax Rate | 2.36%-5.12% | 5.35%-9.85% |
| Single Filer ($100k) | $4,921 | $5,319 |
| Married Couple ($200k) | $8,858 | $9,574 |
| Median Income ($80.6k) | $4,271 | $5,481 |
Comparison: Income taxes in WV are $1,210 lower than in MN for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Ballard, WV
7.000%
Combined rate
Annual sales tax: $1085
(Based on $15,500 spending)
Sacred heart, MN
9.875%
Combined rate
Annual sales tax: $1530
(Based on $15,500 spending)
| Data | Ballard, WV | Sacred heart, MN |
|---|---|---|
| State Sales Tax | 6.00% | 6.88% |
| Combined Sales Tax | 7.000% | 9.875% |
| Annual Tax Amount | $1,085 | $1,530 |
Comparison: Shopping in Ballard, WV costs $445 less in annual sales tax than in Sacred heart, MN for the average household.
Tax Comparison Insights
Tax Insights: Ballard vs Sacred heart
- Property Tax: Ballard has a 0.5380 percentage points lower effective property tax rate than Sacred heart.
- Income Tax: Living in WV could save you approximately $1,210 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Ballard is 2.88 percentage points lower than in Sacred heart.
Overall Tax Burden Comparison
Ballard, WV
$7,358
Combined annual tax burden
Property
$2,003
Income
$4,271
Sales
$1,085
Sacred heart, MN
$11,269
Combined annual tax burden
Property
$4,258
Income
$5,481
Sales
$1,530
Overall Comparison: Ballard, WV has an estimated $3,911 lower total tax burden than Sacred heart, MN based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.