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Californias richest residents earn a lot of money.
They also pay a large proportion of that to Uncle Sam.
Those exorbitant earnings also benefit the state as a whole.
In fact, they might betaxedat a higher rate than you would think.
Keep reading to uncover the findings.
As for income taxes, the top 1% pays approximately $122.5 million per year.
Cost of Living in California
Living in the Golden Stateisnt cheap.
For example, the average single family home value is $793,150.
This is more than double the average home value of $357,138 in the U.S.,according to Zillow.
The cost of living indexes were sourced from Missouri Economic and Research Information Center.
The average single family home value was sourced from Zillow Home Value Index for January 2025.
The states were sorted to show the highest to lowest tax share percentage.
All data was collected on and is up to date as of March 6th, 2025.
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