(The city wage tax is like any other income tax, a percentage that is taken from taxable income to pay for services. All other information remains the same. Pennsylvania's income tax rates were last changed eighteen years ago for tax year 2002, and the tax brackets have not been changed since at least 2001.. Pennsylvania has a flat income tax rate which applies to both single and joint filers. Ohio Revised Code 718.27 requires the Tax Administrator to publish, by October 31st, the established interest rate for tax underpayments based on the federal short-term rate that will apply during the next calendar year. Interest income earned from banks, credit unions, or savings & loan investments is exempt. 2020 rates included for use while preparing your income tax deduction. Pennsylvania Department of Revenue > Tax Information > Tax Rates > Personal Income Tax Rates Begin Main Content Area Page Content The deadline is weekly, monthly, semi-monthly, or quarterly depending on the amount of Wage Tax you withhold. TAXES 20-09, Pennsylvania (Local) Income Tax Withholding. The Philadelphia sales tax rate is %. "The largest beneficiaries of the pact are upper-income Pennsylvanians who commute to New Jersey for work but pay Pennsylvania's flat income tax of 3.07 percent," he wrote in a veto message. Tax Rates for Philadelphia - The Sales Tax Rate for Philadelphia is 8.0%. The rate as of July 1, 2019 for residents of Philadelphia decreases from 3.8809% to 3.8712%, and the rate for nonresidents of Philadelphia decreases from 3.4567% to 3.4481%. The gross receipts portion of the tax remains .1415%. You’ll also enjoy the low income taxes  of the state of Pennsylvania. I live in NJ and work in Philadelphia. The income tax rate has changed to 1.6500 percent for nonresidents of the city of Erie, Pennsylvania. The average effective property tax rate in Philadelphia County is 0.98%. State tax rules vary widely. How Much Do I Need to Save for Retirement? Another jewel of Philadelphia’s art scene is the Barnes Foundation, formerly located outside of the city but now in a convenient location down the road from the PMA. Accordingly, a federal C corporation operating in Philadelphia is subjected to an astonishing cumulative income tax rate of over 50% (Federal: 35%, Pennsylvania: 9.9%, Philadelphia: 6.45% = 51.35%). Following a legislated schedule for reductions, the rate of the net income portion of the Business Income and Receipts Tax is reduced to 6.30% for Tax Year 2018. Compare the Top 3 Financial Advisors For You, Want some help navigating the financial aspects of a big move? See section “Federal Income Types” for additional information. - The Median household income of a Philadelphia resident is $37,460 a year. The rates are expected to decrease by a quarter of a percent, beginning July 1. The school tax rate for the 2020 tax year is 3.8712%. Any paycheck that businesses issue with a pay date after June 30, 2018 must have Philadelphia City Wage Tax withheld at the new rate. Federal Individual Income Tax Rates History Nominal Dollars Income Years 1913-2013 Nominal ... Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over 10.0% $0 $17,400 10.0% $0 $8,700 10.0% $0 $8,700 10.0% $0 $12,400 Get Free City Of Philadelphia 2019 School Income Tax now and use City Of Philadelphia 2019 School Income Tax immediately to get % off or $ off or free shipping As far as cost of living goes, Philadelphia isn’t as expensive as bigger cities like New York or San Francisco. The wage tax rate for residents of Philadelphia was not increased and remains at 3.8712% (.038712). For anyone looking to do this, the median rent is $968 in Philly. The income tax rates decreased from 3.8907 percent to 3.8809 percent for residents and from 3.4654 percent to 3.4567 percent for nonresidents of the city of Philadelphia, Pennsylvania. Members get in free, while admission for non-members costs $25. No matter where you are in the interview, you can also go forward or back to find the Summary of Taxes Paid to Other States screen. Additional State Capital Gains Tax Information for Pennsylvania. Click here for a larger sales tax map, or here for a sales tax table. Use this tool to compare the state income taxes in New York and Pennsylvania, or any other pair of states. The first TWO (2) digits of a PSD Code represent the Tax Collection District (TCD)—in most cases, the county—in which the address is located. Penn will report the payment on Forms 1042-S, even if the entire amount of income is exempt under a tax … The US average is 4.6%. Pennsylvania has a flat corporate income tax rate of 9.990% of gross income. That’s $6 below the national median, which is $1,175. The total self-employment tax (note that this is completely distinct from the income tax) is set at 15.3%, if your income from self-employment in Philadelphia, Pennsylvania exceeds . New Member ‎June 3, 2019 1:38 PM. Returns and payments are due on May 15th for corporations with fiscal years that match the calendar year, and 30 days after federal returns are due for corporations with other fiscal years. Income Tax Information for Businesses. The current city wage tax rate is 3.4481%. To get a ticket to game, you’ll pay the following prices: No tour of the Philadelphia arts scene would be complete without a visit to the Philadelphia Museum of Art (PMA), which isn’t just famous for that scene in Rocky. At its height, the Philadelphia Wage Tax reached 4.96% in 1985. The tax applies to payments that a person receives from an employer in return for work or services. To review the rules in Pennsylvania, visit our state-by-state guide. Scheduled reductions to BIRT continue for Tax Year 2018. For more information about the income tax in these states, visit the New York and Pennsylvania income tax pages. No action on the part of the employee or the personnel office is necessary. The average effective property tax rate in Philadelphia County is 0.98%. The BIRT tax rate was scheduled to decrease to 6% by 2023. As with the BIRT, the Philadelphia wage tax rates were planned to decrease. As a matter of fact, according to 2018 data from the National Association of Realtors, the median sale price for such a home in Philly is $224,600. A Pennsylvania resident who makes $100,000 a year working in New Jersey saves nearly $1,200 a year by avoiding New Jersey income taxes. Pennsylvania has a flat income tax rate of 3.07%, the lowest of all the states with a flat tax. As a jumping-off point, here are a few local banks to pick from. The federal income tax is a progressive tax, meaning it increases in accordance with the taxable amount. That’s for a 915-square foot apartment, and includes electricity, heating, water and garbage. Income and Salaries for Philadelphia - The average income of a Philadelphia resident is $22,542 a year. Employer’s Return of Tax Withheld from Employees Monthly Filers: You are required to file monthly if during the previous calendar year the tax exceeded $2,399.00 or if a total in any month of the preceding calendar quarter the tax exceeded $200.00. Enter the local wages (double-taxed income) and taxes paid to Philadelphia from your W2. - Tax Rates can have a big impact when Comparing Cost of Living.   All Pennsylvanians pay 3.07%, no matter how much income they have, unlike with the progressive tax system that's imposed by the federal government and most other states. South Dakota v. Wayfair, Inc. Beginning July 1, 2019, Philadelphia will reduce the rate of the: wage tax; earnings tax; net profits tax; and; school income tax. Title: 2019 New Phildelphia Income Individual Tax Return LCK Created Date: 11/21/2006 12:35:44 PM A cheesesteak hoagie from the renowned Dalessandro’s will cost you $9. An increase in Philadelphia's median household income last year did very little to affect the city's staggering poverty rate, data recently released by the U.S. Census Bureau showed. Proponents of the flat tax system will be glad to hear that Pennsylvania has a flat income tax rate of 3.07%. Generally, Penn will withhold non-employment income paid to Nonresident Alien’s at a rate of 30% or lesser tax treaty rate, if applicable. The current top tax rate in Delaware is 6.6% for taxable income exceeding $60,000. Philadelphia, the City of Brotherly Love, offers both colonial charm and modern attractions. On top of that tax rate, Philadelphia also charges a municipal income tax, known as a “local earned income tax,” which is 3.891%. In 2021, the federal income tax rate tops out at 37%. Please refer to the table below for a list of 2021 Payroll Taxes (employee portion and employer portion) that are applicable to the city of Philadelphia in the state of Pennsylvania. At Geno’s Steaks, a cheesesteak goes for $9.25. Philadelphia-area residents who are now working from their dining-room tables or home offices are likely eligible to stop paying the tax or apply for refunds later. Property Tax Rate: $5.03 [The property tax rate shown here is the rate per $1,000 of home value. You might want to seek the services of a financial advisor, who can also help with long-term goals like retirement planning. Philadelphia has seen the job market increase by 1.2% over the last year. No action on the part of the employee or the personnel office is necessary. Pennsylvania has a somewhat unique system of taxing individual income. google_ad_client="c"+"a-pu"+"b-2244"+"847655937829";google_ad_slot="4992074260";google_ad_width=728;google_ad_height=90; Are you considering moving or earning income in another state? The tax rate on gross receipts is 0.1415%, while the income tax rate is 6.45%. I understand that i do not have to file a PA return but must for NJ. Anyone interested in U.S. history should be able to find plenty of free entertainment in Philadelphia. This rate includes any state, county, city, and local sales taxes. You can expect to pay around $67.50 a month in Philly. 0 14 10,710 duquesne-1. That’s a bargain compared to Allegheny County (home to Pittsburgh) which has an average effective property tax rate of 2.08%. However, the current rate of 3.8712% will remain in place until FY24. This is just below the national average, which is $152.11. Reduced rates. As long as companies are requiring employees to work from home, they are exempt from the 3.4481% nonresident tax. An award-winning writer with more than two decades of experience in real estate. A nonfinal tax also must be withheld on proceeds from the disposition of US real property interests (10%) and by partnerships on their ECI allocable to foreign corporate partners (35%). Residents of Philadelphia who are employed out-of-state may be required to file and pay a local income tax in that jurisdiction in addition to the Philadelphia Earnings Tax. For income taxes in all fifty states, see the income tax by state. The average monthly internet bill for the U.S. as a whole is $62.52, which is about $5 cheaper than Philadelphia. The City of Philadelphia wage tax is a tax on salaries, wages, commissions and other compensation paid to an employee who is employed by or renders services to an employer. However, half of this tax is deducted from your income, for income tax purposes. The statewide sales tax rate is 6%, though two counties charge an additional sales tax above this rate. The Combined Rate accounts for Federal, State, and Local tax rate on capital gains income, the 3.8 percent Surtax on capital gains and the marginal effect of Pease Limitations (which results in a tax rate increase of 1.18 percent). That makes the city’s market significantly cheaper than other East Coast cities like New York ($403,900) and Boston ($460,300). The latest sales tax rate for Philadelphia, PA. If you are eligible, residents pay 3.3712%, non-residents 2.9481%. Tax Table (2018 and After Returns) Tax Table (2017 and Prior Returns) If your New Jersey taxable income is less than $100,000, you can use the New Jersey Tax Table or New Jersey Rate Schedules. Philadelphia has plenty to offer sports fans. Tax-Rates.org provides free access to tax rates, calculators, and more. The employees also provide assistance to callers concerning their City of New Philadelphia income tax issues. Tax rates may differ for individuals and corporations. That means you’ll spend around $100 more on food in Philly than the $324.43 U.S. average. The current rates for the Business Income & Receipts Tax (BIRT) are 1.415 mills (1.415% per $1,000) on gross receipts, and 6.25% on taxable net income. The wage tax is a city income tax used to fund the operation of city government. For an in-depth comparison, try using our federal and state income tax calculator. This tool compares the tax brackets for single individuals in each state. Philadelphia is one of just three cities nationwide to assess taxes on personal income, corporate income, sales, and property. If you want to eat out, you can expect to pay $15 for a meal at an inexpensive restaurant in Philadelphia. The average price for a three-course meal for two at a mid-range restaurant jumps up to $60. The parking tax rate of 22.5% would increase to 27%. Business Income & Receipts Tax rate (BIRT) freeze. According to May 2019 data from Numbeo.com, the minimum recommended amount to spend on food for a day in Philadelphia is $13.70, for a monthly minimum of $424.84. The new Wage Tax rate for non-residents of Philadelphia who are subject to the Philadelphia City Wage Tax is 3.4567% (.034567). If you are eligible, residents pay 3.3712%, non-residents 2.9481%. For tax year 2020, Arkansas’s individual income tax rate schedule for high earners has been consolidated from six brackets into four and the top marginal rate dropped from 6.9 to 6.6 percent. Future job growth over the next ten years is predicted to be 28.4%, which is lower than the US average of 33.5%. You can still find a single-family home in the Philadelphia metro area for under $300,000. The Federal Income Tax, in contrast to the Pennsylvania income tax, has multiple tax brackets with varied bracket width for single or joint filers. "If they were subject to New Jersey's income tax, they could pay a top marginal rate … To download a list of both PSD Codes & EIT Rates, click here . This will calculate your credit. Only the highest earners are subject to … School Income Tax Regulations; Property tax regulations; Paying City taxes. Both parts must be filed. Taxes. Working for a New Jersey company but living in Pennsylvania can save high-income households a significant amount. Beginning January 1, 2019, the withholding rate on income over five million dollars is 11.8%. For those subject to the middle rate schedule, the top rate has dropped from 6.0 to 5.9 percent. If you’re looking for a two bedroom apartment in the City of Brotherly Love, you’ll pay a median rate of $1,169, according to Apartment List. Since New Philadelphia is a mandatory filing city, the employees in the Income Tax Office review all city income tax returns for residents and businesses. In Philadelphia’s case, there is a slightly higher rate, 3.92 percent for residents, who presumably consume more city services, and a slightly lower rate for non-residents, 3.4912 percent, who commute into the city to work.) The wage tax is the city’s largest revenue stream. However, the new budget proposes the rate remain at 6.2% with the reductions planned to resume in FY24. The property tax rate would rise … Effective September 12, 2016. Unpaid Municipal Income Tax – Interest. Tax Rate; Personal Income Tax: 3.07 percent: Inheritance and Estate Tax: 0 percent on transfers to a surviving spouse or to a parent from a child aged 21 or younger 4.5 percent on transfers to direct descendants and lineal heirs 12 percent on transfers to siblings Any paycheck that businesses issue with a pay date after June 30, 2018 must have Philadelphia City Wage Tax withheld at the new rate. Until updated 2018 tax rates become available for Pennsylvania, the tax brackets shown above and used in the income tax calculator will be from tax year 2016. The new Wage Tax rate for non-residents of Philadelphia who are subject to the Philadelphia City Wage Tax is 3.4567% (.034567). If you pay admission, you’ll get two consecutive days of access to the museum, as well as the Rodin Museum, the Perelman Building and the Cedar Grove historic house. The good news is that the Philadelphia Wage Tax rates will be reduced for taxable compensation paid on or after January 1, 2006. The new Wage Tax rate for residents of Philadelphia is 3.8809% (.038809). Tax Rates for Philadelphia, PA Sales Taxes : 7.00% [ The total of all sales taxes for an area, including state, county and local taxes. Ask our Home Buying expert. Any other income, gain or profit characterized as “fixed or determinable, annual or periodic” (FDAP) is subject to a 30% withholding tax, unless the rate is reduced under a tax treaty or the income is ECI. Resident Philadelphia wage tax rate freeze / non-resident Philadelphia wage tax increase. No action on the part of the employee or the personnel office is n… For an in-depth comparison, try using our federal and state income tax calculator. The 2018 United States Supreme Court decision in South Dakota v. Wayfair, Inc. has impacted many state nexus laws and sales tax collection requirements. Then, contact the Tax Collector/Officer to determine your local tax rates and PSD codes. For more information about the income tax in these states, visit the New Jersey and Pennsylvania income tax pages. Residents pay Pennsylvania state income tax at a flat rate of 3.07%. Click PDF below for images. This includes income from your investments, certain business distributions, and net income from rental duplexes. The Philadelphia resident rate will be 4.301% and the non-resident rate will be 3.7716%. Residents of Philadelphia pay a flat city income tax of 3.93% on earned income, in addition to the Pennsylvania income tax and the Federal income tax.Nonresidents who work in Philadelphia pay a local income tax of 3.50%, which is 0.43% lower than the local income tax paid by residents. for residents of Philadelphia, or 3.5019% for non-residents Who pays the tax The City Wage Tax is a tax on salaries, wages, commissions, and other compensation. Thirty-two states levy graduated income tax rates similar to federal tax brackets, although brackets differ widely by state. Accordingly, the budget proposes a reduction to 6.15% in FY24 and then to 6.10% in FY25. There are also relative bargains to be had in the housing market for both renters and home buyers. There are a total of 69 local tax jurisdictions across the state, collecting an average local tax of 0.121%. Philadelphia City Income Taxes to Know. This basically doubles your self-employment tax rate. The rate as of July 1, 2019 for residents of Philadelphia decreases from 3.8809% to 3.8712%, and the rate for nonresidents of Philadelphia decreases from 3.4567% to 3.4481%. Pennsylvania's income tax rates were last changed eighteen years ago for tax year 2002, and the tax brackets have not been changed since at least 2001.. Pennsylvania has a flat income tax rate which applies to both single and joint filers. The Federal Income Tax, in contrast to the Pennsylvania income tax, has multiple tax brackets with varied bracket width for single or joint filers. The income tax rates decreased from 3.8907 percent to 3.8809 percent for residents and from 3.4654 percent to 3.4567 percent for nonresidents of the city of Philadelphia, Pennsylvania. Published: April 1, 2020 Effective: Pay Period 05, 2020. The new Wage Tax rate for non-residents of Philadelphia who are subject to the Philadelphia City Wage Tax is 3.4567% (.034567). Non-residents of Pennsylvania can’t claim a tax credit against Philadelphia Earnings Tax for income taxes paid to any other state or political subdivision. The tax rate, currently 3.8809 percent for Philadelphia residents and 3.4567 percent for nonresidents who work in the city, gets reduced a little bit every year. Tax Rates for Philadelphia, TN . These are the main income taxes: City of Philadelphia Wage Tax – This is a tax on salaries, wages, and other compensation. - The Income Tax Rate for Philadelphia is 7.0%. The US average is 7.3%. The statewide sales tax in Pennsylvania is 6%. It’s lower than Chicago’s 10.25% sales tax, the highest of any city in the country. Philadelphia does allow residents employees working in a Pennsylvania local earned income tax (EIT) jurisdiction to take a credit. Pennsylvania’s corporate net income tax has a flat rate of 9.99% (this makes it one of the highest corporate tax rates in the country). Most states conform to federal rules for determining: gross income, timing of recognition of income and deductions, most aspects of business deductions, Get details and regulations for the Philadelphia Realty Transfer Tax rate. Therefore, your income level and filing status will not affect the income tax rate you pay at the state level. No state has a single-rate tax structure in which one rate applies to all taxable income. NJ Income Tax – Tax Rates Gross Income Tax. I have a w2 which shows box 15 (PA), box 19(local income tax)$1201,( box 18 local wages) 34896, and on box 20(locality)Philadelphia. A return must be filed even if a loss is incurred. Want to sample one of the city’s famous Philly cheese steaks? General Tax Information. The BIRT is based on both gross receipts and net income. This document includes a summary schedule of City of Philadelphia tax rates since 1952. Mark as New; Bookmark; Subscribe; Subscribe to … This bulletin supersedes TAXES 18-61, Pennsylvania Local Income Tax Withholding, dated July 16, 2018. The new Wage Tax rate for residents of Philadelphia is 3.8809% (.038809). But don’t expect big savings — for someone with a $50,000 salary, the reductions planned for fiscal year 2020 would mean about $5 less in wage taxes. If you earn these types of income, you will need to file a return and submit the taxes due. Pennsylvania's flat tax rate, compared with New Jersey's progressive rates based on income, is more advantageous the more you make. Philadelphia 2021 Payroll Tax - 2021 Pennsylvania State Payroll Taxes. The statewide sales tax rate is 6%, though two counties charge an additional sales tax above this rate. The city wage tax rate in Philadelphia is a flat 3.93% for residents and 3.50% for nonresidents who work in the city. This tool compares the tax brackets for single individuals in each state. The new wage tax rate for non-residents of Philadelphia, who are subject to the Philadelphia city wage tax, is 3.5019% (.035019). Combined with the state sales tax, the highest sales tax rate in Pennsylvania is 8% in the city of Philadelphia. In 32 U.S. states plus Washington D.C., taxes are progressive, which means rates go up as your income does. Proponents of the flat tax system will be glad to hear that Pennsylvania has a flat income tax rate of 3.07%. In 2018 the rate was 6.30% on taxable net income. The tax rate may be fixed for all income levels and taxpayers of a certain type, or it may be graduated. That’s about on par with New York City, which has a sales tax rate of 8.875%. Electronic funds transfer (EFT) Modernized e-Filing (MeF) for City taxes; Make an appointment to pay City taxes or a water bill in person ; How to file and pay City taxes; Interest, penalties, and fees; Pay delinquent tax balances; Tax forms & instructions. That’s a bargain compared to Allegheny County (home to Pittsburgh) which has an average effective property tax rate of 2.08%. The City of Philadelphia wage tax is a tax on salaries, wages, commissions and other compensation paid to an employee who is employed by or renders services to an employer. City residents have to pay 3.8712% and non-residents owe 3.5019% (2020 tax year). Since the mid-1990s, Philadelphia mayors have worked to lower the rate. Sales Taxes: 9.00% [The total of all sales taxes for an area, including state, county and local taxes.Income Taxes: 0.00% [The total of all income taxes for an area, including state, county and local taxes.Federal income taxes are not included.] Admission to the museum is $20 for an adult. The income-based rates are 0.5% lower than standard rates. The more someone makes, the more their income will be taxed as a percentage. Bank of America® Travel Rewards Visa® Credit Card Review, Capital One® Quicksilver® Cash Rewards Credit Card Review, top financial advisor firms in Philadelphia, 7 Mistakes Everyone Makes When Hiring a Financial Advisor, 20 Questions to Tell If You're Ready to Retire, The Worst Way to Withdraw From Your Retirement Accounts. For income taxes in all fifty states, see the income tax by state. All paychecks issued after June 30, 2019 must reflect the new rates. For more information about the income tax in these states, visit the New Jersey and Pennsylvania income tax pages. The federal corporate income tax, by contrast, has a marginal bracketed corporate income tax.Pennsylvania's maximum marginal corporate income tax rate is the 1st highest in the … The new Wage Tax rate for residents of Philadelphia is 3.8809% (.038809). Unlike most major cities, the cost of renting in Philadelphia is fairly affordable. - The Income Tax Rate for Philadelphia is 7.0%. Initially, moreover, local income taxes proved most viable in states which had not adopted their own income taxes. If you make $80,000 a year living in the region of Pennsylvania, USA, you will be taxed $19,351.That means that your net pay will be $60,650 per year, or $5,054 per month. If you’re unsure whether renting or buying is a better financial move for you, try consulting with a financial advisor. All other information remains the same. That’s the lowest rate of any of the eight states with a flat income tax. In the end, that’s a mere $21 more expensive than the $947 mark for the U.S. as a whole. Photo credit: © iStock/f11photo, © iStock/rabbit75_ist. Want to add on internet? That’s one of the best rates in Pennsylvania. Children 12 and under get in for free. Use this tool to compare the state income taxes in New Jersey and Pennsylvania, or any other pair of states. Pennsylvania levies a flat state income tax rate of 3.07%. Summary. But on the first Sunday of every month and every Wednesday after 5 p.m., you can pay whatever you want to get in. Thinking about downsizing to a one bedroom apartment? Numbeo.com’s May 2019 data places the average monthly utility bill in Philadelphia at $145.61. Note: We don't currently have Pennsylvania's income tax brackets for tax year 2018. The wage tax will not increase for Philadelphia residents who also work in the city. Philadelphia has an added 2% sales tax, for a total of 8%. SmartAsset’s. More specifically, the market appreciated by 141.16% from 2000 to 2018. Despite nearly 70% of the Philadelphia housing market consisting of homes worth $238,000 or less (NeighborhoodScout, 2018), Philly boasts solid long-term appreciation rates. Federal Income Tax. The five states with the highest top marginal individual income tax rates are: California: 13.30%; Hawaii: 11.00%; New Jersey: 10.75% The City Tax Status for South Park Township has been updated from Resident (R) to Duty State (DS) and Resident (R). For local governments, income taxes came later; 31 states had already adopted individual income taxes by the time Philadelphia, Pennsylvania became the first municipal government to levy a tax on income. The US average is $28,555 a year. Your average tax rate is 24.19% and your marginal tax rate is 32.72%.This marginal tax rate means that your immediate additional income will be taxed at this rate. Have a question? 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A whole is $ 20 for an adult and home buyers non-resident Philadelphia Wage tax is 3.4567 (! Mid-1990S, Philadelphia isn ’ t as expensive as bigger cities like New York Pennsylvania... And taxes paid to Philadelphia from your income level and filing status will not affect income! Which had not adopted their own income taxes in all fifty states, see the income tax rate for,... Of home value BIRT, the New Jersey and Pennsylvania income tax rate of 22.5 % would to. That collect this revenue, everyone pays at the same flat rate hear that Pennsylvania has a tax... A flat income tax rate for residents of Philadelphia is 3.8809 % (.034567.! Rate you pay at the state income taxes in all fifty states, visit the New York,. Jersey 's progressive rates based on income over five million dollars is 11.8 % housing.

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