list of millionaires in west virginia

While there are probably few millionaires in the cockpits of commercial airplanes, airline pilots, co-pilots and flight engineers are among the best-paid workers in the state. New Hampshire's high concentration of millionaires hinges on Concord and Laconia. Fortunately, for rich and not-so-rich alike, Idaho's overall cost of living is 7.5% below the national average. Rich people not your cup of tea? But then, with a cost of living almost 12.2% below the national average, paychecks tend to go further. Wyoming accounts for about 40% of the nation's coal production, and the vast majority of the state's output comes from the Gillette area, which has a high concentration of millionaires as a result. And property taxes, particularly in Detroit, are steep. Jim Justice, received $5 million to $10 million. A levy on stock dividends and interest income from bonds and other investments is being phased out and will be gone by 2022. Those who earn more than $373,894 are rich. More than a quarter-million of Ohio's 4.7 million households have investable assets of at least $1 million. Taxes more than make up for higher prices, however. For example, groceries alone cost 39% more in Juneau. Income taxes are on the high end because more than 200 school districts and Appanoose County add their own income taxes on top of the state-level tax. But it's worth noting that the city of Wilmington taxes wages of everyone who lives or works there at 1.25%. Wyoming has the smallest population of any state, but it punches above its weight when it comes to millionaires, thanks to abundant natural resources and recreational activities. This is our tenth time ranking the richest cities in West Virginia. She has worked in schools all over the world, and has developed groundbreaking curricula that have helped countless students excel. About the only bright spot in Connecticut's tax picture is that localities can't add to the Constitution State's 6.35% sales tax. In an extreme example, Tupelo is one of the 10 cheapest cities in the U.S. Mississippians also enjoy some of the lowest property taxes in the nation, and its income tax levy, already fairly low, continues to shrink. However, the loss of the federal personal exemption due to the new tax law means that many Utahns, particularly those with multiple dependents, will pay higher state taxes than before. The Beehive State runs a flat tax system. When you purchase through links on our site, we may earn an affiliate commission. 50 Top Stock Picks That Billionaires Love. Where is the highest concentration of millionaires? Jefferson County is the richest in West Virginia, according to U.S. Census Data from 2010. Heres how it works. Partly that's because Rhode Island is expensive for homeowners. For 2019, it was 5.4% on income over $8,424. As such, the Mountain State's median real estate taxes are among the lowest in the U.S., according to the Tax Foundation. Although N.H. is a relatively tax-friendly state especially for retirees the high concentration of millionaires contributes to relatively high living costs. When it comes to lifestyles of the rich and famous in Nebraska, one name immediately comes to mind: Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.B (opens in new tab)), is the Cornhusker State's richest and most famous resident by a wide margin. "Chances for aurora as far . They're disproportionately located in the greater New York City area, however, where a million bucks doesn't go that far. Oregonians face the country's highest income tax bracket. He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move. How . We then averaged all the rankings for a place into a Rich Score with the place having the lowest overall Rich Score, Bridgeport, crowned the Richest City In West Virginia For 2023. The 11 Best Closed-End Funds (CEFs) for 2020. New Mexico picked up a billionaire for the first time in newcomer Ron Corio, a solar entrepreneur. Median income for all households is below the U.S. level, and yet home prices are well above the national median. The southwest corner of the state is the base for many hedge funds and prominent public companies. Share of millionaire households. The combined net worth of the billionaires in some U.S. cities exceeds the entire annual GDP of many states. She is also a strong advocate for equal opportunity, and she works tirelessly to ensure that all students have access to quality education regardless of their socioeconomic status or race. Regardless of wealth, Nebraskans can take comfort in a cost of living that's 10.5% lower than the national average, according to the BEA. In the Los Angeles-Long Beach-Anaheim metro, more than 360,000 households have at least $1 million in investable assets. Data on residency and net worth came from the list, which is updated every five minutes to reflect changes in stock prices and private company valuations. Florida is well-known for its absence of a state income tax, which helps put it into Kiplinger's top 10 most tax-friendly states. Concentration of millionaires: 4.81%. Now, D'Aniello's net worth is a whopping $3.8 billion. Helpfully, the Show Me State no longer taxes Social Security benefits for many taxpayers. Among other policies, income tax rates reach 8.75%. Prior to being elected as a senator, Manchin served as the 34th governor of West Virginia from . The Tax Foundation's average combined state and local sales tax rate for Washington is the fourth-highest in the country, as is its gas tax. If you need proof that the house always wins, just take a look at Nevada. Taxes aren't overly onerous, at least compared to many of its New England neighbors. Sales taxes have a broad reach here (and include groceries), but they're generally low. The cost of living is 3.4% lower than the national average, according to the BEA. Not only does Oklahoma boast a cost of living that's 11.6% below the national average, but its largest city offers remarkably affordable prices for its size. 65 Best Dividend Stocks You Can Count On in 2020. N.J.'s cost of living is 13.4% higher than the U.S. average, according to C2ER. It's 8.2% less expensive to live in the Tar Heel State than the national average, and Durham is one of the happiest places to live in the U.S., according to the Gallup-Sharecare Well-Being Index. Abigail Johnson, CEO and chairwoman of Boston-based Fidelity Investments, is the state's wealthiest resident with a net worth of $14.1 billion. 15 Dividend Kings for Decades of Dividend Growth. How did we come up with these mega wealthy cities? Turn-of-the-century Bramwell, West Virginia, was a rich little town with more millionaires than any place of its size in America. Overall, the cost of living in the Yellowhammer State is 13.6% below the national average. HOME. California's reputation as a high-tax destination is built in part on how aggressively it goes after big earners, with a 13.3% tax rate that kicks in at $1 million (for single filers) of taxable income. Unfortunately for millionaires and non-millionaires alike, Michigan is not tax-friendly. Oil wealth is what gives Alaska its high percentage of millionaires. Ray Dalio, founder of hedge fund Bridgewater Associates, tops the state's rich list with a net worth estimated at $18 billion. The state levy for sales tax is 2.9%, but localities can add as much as 8.30%. Antonia Leonard is an education expert who has dedicated her life to helping students achieve their academic goals. The tax picture for retirees is a little more mixed, however. Property taxes are the second-lowest in the country, and all homeowners age 65 or older are exempt from state property taxes. Luxury-brand retailers tend to focus on this demographic. The cost of living in Rhode Island is a whopping 18.6% higher than the national average, according to C2ER. West Virginia: 27,302: 22: $35,234: 50. And thanks to abundant revenue that the state collects from oil and mineral rights, Wyoming millionaires shoulder one of the lowest tax burdens in the U.S. With no income tax, it's No. Data is current as of March 29, 2021. Illinois has a higher concentration of millionaires than the national average, and a million bucks goes a bit farther in the Prairie State than it does in much of the rest of the country. Within the state, you're most likely to find millionaires living in the Phoenix-Mesa-Scottsdale metro area. Taxes are rough, too. Average Household Income: $65,332. The first thing that comes to most peoples minds when they think about determining the richest places is to simply identify personal incomes. Texas is a place of extremes when it comes to taxes, too. Mississippi: 39,270: 21.5: $34,508: Indeed, an hour's drive north of Walt Disney World, you'll find The Villages, a sprawling retirement haven with a high percentage of affluent residents. He's reportedly worth $12.6 billion. Los Alamos, New Mexico best known for the world-famous Los Alamos National Laboratory seems like an unlikely place to find a lot of millionaires. That helps make the cost of living in Ohio cheaper by 11.6%. Most states exempt food and drugs from their sales tax, but that's not the case in Illinois. When it comes to paying taxes, the situation for Kentucky residents is mixed. Sales taxes with an average combined rate of 9.16% do take a bite, though. Generally speaking, it's a pricey place to live if you're wealthy. Batten the hatches for continued market tumult without eating high fees with these six Vanguard ETFs and mutual funds. Published 22 February 23. LINK TO NETSTATE . Medical specialists, CEOs and dentists are among the top-paid jobs in the state. But be forewarned: Income tax bites hard on higher incomes, with the top rate of 6.5% kicking in on taxable income over $60,000. Locals have said their Mountain State neighbors have a strong sense of community, and that they are unpretentious and humble. Others even said West Virginians are pretty much the nicest people on the planet, and even though their state pride runs deep, theyre very welcoming to outsiders. The states with the highest number of millionaire households just might surprise you. Published 21 February 23. Tennesseans also tend to keep more of their hard-earned dollars. For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in West Virginia. The state is 3.5% less expensive than the U.S. as a whole. By Charles Lewis Sizemore, CFA Wisconsin ranks among Kiplinger's least tax-friendly states, thanks to high income and property taxes. In West Virginia, Lewisburg is the only city home to a billionaire. John Menard, Jr., founder of the Menards home improvement chain, is the state's richest resident with a net worth of $18.8 billion. Property tax rates in South Carolina are low too. Sales taxes are high (and are applied to groceries), and property taxes are steep, too. Here's a look at the worst counties in West Virginia according to the data: Mingo County; Mcdowell County; Webster County; For more West Virginia reading, check out: Cheapest Places To Live In West Virginia; Best Places To Retire In West Virginia; Safest Places In West Virginia; Richest Cities In West Virginia; Detailed List Of The Best .