Tax Comparison: Bossier city, LA vs Chicago, IL
Understanding Your Tax Burden
This page compares the three main types of taxes between Bossier city, LA and Chicago, IL: 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
Bossier city, LA
$2,690
Based on a $419,200 home
Rate: 0.6416%
Chicago, IL
$8,314
Based on a $419,200 home
Rate: 1.9833%
| Data | Bossier city, LA | Chicago, IL |
|---|---|---|
| Effective Property Tax Rate | 0.6416% | 1.9833% |
| Estimated Property Tax | $2,690 | $8,314 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Bossier city, LA are $5,624 lower than in Chicago, IL 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
LA
1.85%-4.25%
Single: $4,067
Married: $7,321
IL
4.95%.
Single: $4,950
Married: $8,910
| Data | LA | IL |
|---|---|---|
| Tax Rate | 1.85%-4.25% | 4.95%. |
| Single Filer ($100k) | $4,067 | $4,950 |
| Married Couple ($200k) | $7,321 | $8,910 |
| Median Income ($80.6k) | $3,424 | $3,989 |
Comparison: Income taxes in LA are $565 lower than in IL 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
Bossier city, LA
12.000%
Combined rate
Annual sales tax: $1860
(Based on $15,500 spending)
Chicago, IL
11.000%
Combined rate
Annual sales tax: $1705
(Based on $15,500 spending)
| Data | Bossier city, LA | Chicago, IL |
|---|---|---|
| State Sales Tax | 5.00% | 6.25% |
| Combined Sales Tax | 12.000% | 11.000% |
| Annual Tax Amount | $1,860 | $1,705 |
Comparison: Shopping in Chicago, IL costs $155 less in annual sales tax than in Bossier city, LA for the average household.
Tax Comparison Insights
Tax Insights: Bossier city vs Chicago
- Property Tax: Bossier city has a 1.3417 percentage points lower effective property tax rate than Chicago.
- Income Tax: Living in LA could save you approximately $565 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Chicago is 1.00 percentage points lower than in Bossier city.
Overall Tax Burden Comparison
Bossier city, LA
$7,973
Combined annual tax burden
Property
$2,690
Income
$3,424
Sales
$1,860
Chicago, IL
$14,007
Combined annual tax burden
Property
$8,314
Income
$3,989
Sales
$1,705
Overall Comparison: Bossier city, LA has an estimated $6,034 lower total tax burden than Chicago, IL 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.