SALT LAKE CITY — Consumers be aware — $100 isn’t “worth” the same amount in each state, according to a map released Monday.
The Tax Foundation released the map after compiling data from theBureau of Economic Analysis. With average prices for similar goods being higher in coastal states, the same amount of money will buy a consumer comparatively less in high-price states and comparatively more in low-price states, according to Tax Foundation.
The map shows the value of goods that $100 can buy in each state compared to the national average, according to Tax Foundation. The $100 was worth the least in the District of Columbia where it equated to $84.60, and the money went the furthest in Mississippi where it equated to about $115.74.
“The same amount of dollars are worth almost 40 percent more in Mississippi than in D.C., and the differences become even larger if metro area prices are considered instead of statewide averages,” according to Tax Foundation. “A person who makes $40,000 a year after tax in Kentucky would need to have after-tax earnings of $53,000 in Washington, D.C. just in order to have an equal standard of living, let alone feel richer.”
Money in Utah had a slightly higher relative value with $100 equating to around $103.31.