15 US cities where wealthy families pay the least in taxes

Business Insider Finance 1 month ago

Wealthy families live all over the US, but they aren't always paying the same amount of taxes.

GOBankingRates looked at the cities that offered the best tax benefits for wealthy citizens, along with the median household income, price of a top-tier home, and the quality of schools and crime rates. It found that while there were opportunities across the country in Alabama, Massachussetts, and Indiana for families to take advantage of low taxes, the best places for wealthy families were overwhelmingly suburbs in Texas. 

There are a few reasons why suburbs and Texas made the list so frequently. Texas is one of nine states in the US that doesn't impose income taxes on residents, along with Florida and Washington (states which also had suburbs on the list). In the suburbs, it's far easier to find better home values and lower taxes than inside the city limits. 

These suburbs were ranked based on the factors above, with taxes being the No. 1 factor. Here are the 15 places in the US where wealthy families pay the least in taxes: 

15. Hoover, Alabama

14. Round Rock, Texas

13. Fishers, Indiana

12. Boca Raton, Florida

11. Newton, Massachusetts

10. Carmel, Indiana

9. McKinney, Texas

8. Kirkland, Washington

7. Bellevue, Washington

6. Plano, Texas

5. League City, Texas

4. Pearland, Texas

3. Allen, Texas

2. Sugar Land, Texas

1. Frisco, Texas


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