Tax Comparison: What cheer, IA vs Callaway, MN
Understanding Your Tax Burden
This page compares the three main types of taxes between What cheer, IA and Callaway, 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
What cheer, IA
$5,571
Based on a $419,200 home
Rate: 1.3289%
Callaway, MN
$3,064
Based on a $419,200 home
Rate: 0.7310%
| Data | What cheer, IA | Callaway, MN |
|---|---|---|
| Effective Property Tax Rate | 1.3289% | 0.7310% |
| Estimated Property Tax | $5,571 | $3,064 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Callaway, MN are $2,506 lower than in What cheer, IA 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
IA
4.4%-5.7%
Single: $3,800
Married: $6,840
MN
5.35%-9.85%
Single: $5,319
Married: $9,574
| Data | IA | MN |
|---|---|---|
| Tax Rate | 4.4%-5.7% | 5.35%-9.85% |
| Single Filer ($100k) | $3,800 | $5,319 |
| Married Couple ($200k) | $6,840 | $9,574 |
| Median Income ($80.6k) | $3,061 | $5,481 |
Comparison: Income taxes in IA are $2,420 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
What cheer, IA
8.000%
Combined rate
Annual sales tax: $1240
(Based on $15,500 spending)
Callaway, MN
9.875%
Combined rate
Annual sales tax: $1530
(Based on $15,500 spending)
| Data | What cheer, IA | Callaway, MN |
|---|---|---|
| State Sales Tax | 6.00% | 6.88% |
| Combined Sales Tax | 8.000% | 9.875% |
| Annual Tax Amount | $1,240 | $1,530 |
Comparison: Shopping in What cheer, IA costs $290 less in annual sales tax than in Callaway, MN for the average household.
Tax Comparison Insights
Tax Insights: What cheer vs Callaway
- Property Tax: Callaway has a 0.5979 percentage points lower effective property tax rate than What cheer.
- Income Tax: Living in IA could save you approximately $2,420 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in What cheer is 1.88 percentage points lower than in Callaway.
Overall Tax Burden Comparison
What cheer, IA
$9,871
Combined annual tax burden
Property
$5,571
Income
$3,061
Sales
$1,240
Callaway, MN
$10,075
Combined annual tax burden
Property
$3,064
Income
$5,481
Sales
$1,530
Overall Comparison: What cheer, IA has an estimated $204 lower total tax burden than Callaway, 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.