The analysis breaks down total tax collections—federal (72 percent), state (15 percent), and local (14 percent)—and examines recent growth trends. It shows unprecedented rebounds in state revenue post-pandemic, surging property collections at the local level, and volatile federal receipts, all of which shape this year’s tax burden and after-tax buying power.

Looking ahead, the report projects continued revenue growth—especially locally—and highlights major tax relief proposals before the 2025 Legislature, including sales tax exemptions and property tax reforms that could shift future Taxpayer Independence Days.