Written by The Business Journal Staff
Fresno and Visalia have prominent spots on a new list of the 100 US metros with the greatest income tax burden.
A study by MagnifyMoney, a financial tools and information website, ranked Visalia No. 2 on a list of places where tax bills hit the hardest, finding that from 2012-16, its residents owed an average of 12 percent of their income for taxes.
Fresno appeared at No. 5, with residents owing 11 percent of their income for taxes.
The No. 1 tax-burdened city was McAllen, Texas, where residents owe 16 percent of their income. Modesto (No. 8) and Bakersfield (No. 10) round out the top 10, each owing 10 percent.
“The study is very clear that whether or not you can expect a tax bill or a refund this year could be down to where you live,” according to a news release.
San Francisco emerged as the place where taxpayers owe the most to the IRS, with an average tax bill of $7,226, with 25 percent of residents owing money when its time to file their income tax statement.
Fort Myers, Florida, was the place where taxpayers get the biggest refunds, with 70 percent of residents receiving an average of $3,799.