UNION COUNTY — Union County is ranked fourth in the state as a place that owes the most taxes, according to a recent study by personal finance resource, SmartAsset.
Each tax season millions of U.S. taxpayers are issued refunds for the amount of money they overpaid within that tax year. Meanwhile, some taxpayers end up owing money to the IRS after filing their taxes because they underpaid throughout the year. SmartAsset analyzed data from the IRS to determine the counties where people received the highest average tax refunds and the counties where people owed the most money after filing their taxes.
To determine the counties that received the highest average refunds, SmartAsset divided the total amount of money refunded by the IRS in each county by the number of refunds issued in each county. They did the same to calculate the average amount owed, by dividing the total taxes owed in each county by the number of filers that still owe taxes.
SmartAsset ranked and indexed each of the counties where residents receive the highest average refunds and where residents pay the most after filing their taxes.
Union County has a population of 24,910 taxpayers who owe taxes and the average amount owed is $6,406. It has a population of 72,800 of taxpayers who receive refunds and the average amount refunded is $3,030.