Portland, Oregon, is the least favorable city for high-income individuals with regard to tax rates, while cities such as New York, Honolulu, and San Francisco have the lowest purchasing power for those making $250,000.
A June 1 report by consumer-focused financial information provider SmartAsset looked at how far $250,000 per year of income is worth in various American cities. For its analysis, SmartAsset compared the after-tax income of the 76 largest cities, adjusting those figures for the cost of living in each place. Portland was found to be the “least favorable” city for high-income earners. If an individual making $100,000 went on to earn $250,000, their effective tax rate would jump from 7.47 percent to 41 percent, according to the report.
