Tax Comparison: Palos park, IL vs Middle point, OH
Understanding Your Tax Burden
This page compares the three main types of taxes between Palos park, IL and Middle point, OH: 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
Palos park, IL
$8,314
Based on a $419,200 home
Rate: 1.9833%
Middle point, OH
$4,052
Based on a $419,200 home
Rate: 0.9665%
| Data | Palos park, IL | Middle point, OH |
|---|---|---|
| Effective Property Tax Rate | 1.9833% | 0.9665% |
| Estimated Property Tax | $8,314 | $4,052 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Middle point, OH are $4,262 lower than in Palos park, 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
IL
4.95%.
Single: $4,950
Married: $8,910
OH
2.75%-3.5%
Single: $2,640
Married: $4,752
| Data | IL | OH |
|---|---|---|
| Tax Rate | 4.95%. | 2.75%-3.5% |
| Single Filer ($100k) | $4,950 | $2,640 |
| Married Couple ($200k) | $8,910 | $4,752 |
| Median Income ($80.6k) | $3,989 | $2,821 |
Comparison: Income taxes in OH are $1,168 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
Palos park, IL
11.000%
Combined rate
Annual sales tax: $1705
(Based on $15,500 spending)
Middle point, OH
8.000%
Combined rate
Annual sales tax: $1240
(Based on $15,500 spending)
| Data | Palos park, IL | Middle point, OH |
|---|---|---|
| State Sales Tax | 6.25% | 5.75% |
| Combined Sales Tax | 11.000% | 8.000% |
| Annual Tax Amount | $1,705 | $1,240 |
Comparison: Shopping in Middle point, OH costs $465 less in annual sales tax than in Palos park, IL for the average household.
Tax Comparison Insights
Tax Insights: Palos park vs Middle point
- Property Tax: Middle point has a 1.0168 percentage points lower effective property tax rate than Palos park.
- Income Tax: Living in OH could save you approximately $1,168 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Middle point is 3.00 percentage points lower than in Palos park.
Overall Tax Burden Comparison
Palos park, IL
$14,007
Combined annual tax burden
Property
$8,314
Income
$3,989
Sales
$1,705
Middle point, OH
$8,112
Combined annual tax burden
Property
$4,052
Income
$2,821
Sales
$1,240
Overall Comparison: Middle point, OH has an estimated $5,895 lower total tax burden than Palos park, 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.