Woodstock, Illinois vs. Madison, Minnesota

Tax Compare

Our Premium Cost of Living Calculator includes, State and Local Income Taxes, State and Local Sales Taxes, Real Estate Transfer Fees, Federal, State, and Local Consumer Taxes (Gasoline, Liquor, Beer, Cigarettes), Corporate Taxes, plus Auto Sales, Property and Registration Taxes, and an Online Tool to customize your own personal estimated tax burden. Click here to customize.

Taxes
  29.0% lower in Madison, Minnesota
than in Woodstock, Illinois
Assumptions
  • Single, standard deduction, one exemption
  • Sales tax includes food and services
  • Real tax taxes are based on the local median home price
  • Car taxes assume a new Honda Accord costing $25,000
   Cost of living
      State level
Woodstock, IL    Madison, MN    U.S. Avg
100 = US Avg. Below 100 means cheaper. Above 100 means more expensive. About our Cost of Living Index
   Customize Your Own Personal Estimated Taxes
Enter your income and we will give you your estimated taxes in Woodstock, Illinois, we will also give you your estimated taxes in Madison, Minnesota.
Woodstock, ILMadison, MNDifference
2019 Federal Inc. Tax$6,375$6,375 
State Income Taxes$2,871$3,349  $478 higher
Sales Taxes$993$853  $140 lower
Real Estate Taxes$5,590$760  $4,830 lower
Motor Vehicle Taxes$0$313  $313 higher
Total Taxes$15,829$11,650  $4,178 higher
Marginal Rate5.0%7.1%
Effective Rate4.8%5.6%
   Annual taxes
      Based on $60,000 income
   Social security taxes
Woodstock, ILMadison, MN
Tax Social SecurityNoYes
Social Security Note $4500 MFJ exemption is phased out starting at $77,000 of taxable income, until gone at $99,500
   Estimated sales tax
      State level, based on annual income of $75,000
Woodstock, IL    Madison, MN    U.S. Avg
   Tax on food
Woodstock, ILMadison, MN
Sales Tax On FoodYes - Partial state tax (1.00%) but no local tax. No rebate.No
   Real estate tax
Woodstock, IL    Madison, MN    U.S. Avg
Assumes the local median home price and sales tax is amoritized over 13 years.
   Vehicle tax
Woodstock, IL    Madison, MN    U.S. Avg
Assumes a new $25,000 Honda Accord and Sales Tax is amortized over 6 years.
   Other taxes
      State level
Woodstock, IL    Madison, MN    U.S. Avg
* grt = Gross Receipts Tax. In this state, the corporation is required to pay the gross receipts tax on each sale instead of a traditional income tax based on its earnings. The effect is that a percentage of the total revenue or gross receipts for each sale has to be paid to the state as tax. The gross receipts tax is much like a Value Added Tax, only for businesses rather than individuals. Four states impose gross receipt taxes, Nevada, Ohio, Texas, and Washington.
Cost of Child care
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