10 least tax-friendly states for retirees

When you're living on a fixed income, every penny counts -- which makes these states particularly unwelcoming for retirees.

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VIDEO ON MSN MONEY

133Comments
Oct 22, 2013 10:42PM
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Inaccurate and/or misleading reporting.  Minnesota is widely regarded as the worst state for retirees.  The sales tax rate in the 7 county metro region of the Twin Cities (where the vast majority of people live) is 7.125%; not 6.875%.  The sales tax rate in Mpls and St. Paul proper is even WAY higher.  I don't know where they come up with these property tax figures, but my home is valued at just over $400,000 and my property taxes are 7 grand !!!  And that's not in a tony area at all.  Lastly, the top estate tax rate is not 16%, it's an insane 41% !!  The 16% figure is what the average is.  The new "gift tax" that was just enacted by the Demos along with the new 9.85% top rate that applies to incomes of a whole whopping $150K makes this state the land of not 10,000 lakes, but 10,000 TAXES!  Don't ever move here if you are successful or seek to be.  MN loves to import 3rd world poverty and then give them every freebie in the world.  Same with the ghetto rats from Chicago, Gary, and Detroit.  The Twin Cities, Duluth and St. Cloud are infested with them.

 

P.S. - It snows from November (sometimes Oct.) through April.  But all the welfare scum that move here in droves don't care about that part.

Oct 22, 2013 9:47PM
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8 Of the 10   are DEMOCRAT STATES        F Y I
Oct 22, 2013 9:19PM
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I'm leaving NJ soon after living here for years.  Can no longer afford it.  Of course, I will have to pay the exit tax, er transfer tax.  LOL!  You can't even flee without it costing you money here in NJ.
Oct 23, 2013 4:47AM
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Hmmm.  No coincidence most of these are "blue" states??? 
Oct 23, 2013 11:50AM
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renounce your citizenship and become an "undocumented immigrant" and any of the states on the list will fall over themselves trying to give you benefits that they fund through the taxes you used to pay

...then sit back, light a cigar and enjoy your retirement!

Oct 23, 2013 11:35AM
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The states that harm the elderly the most are 80% blue, yet the elderly, obviously suffering from dementia tend to vote for the exact same people who screw them.
Oct 23, 2013 9:37AM
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New York property taxes are more than twice the median you have stated in this article. The property taxes are almost $9,000 on my property valued at $290,000 (Zillow market value $270,000) in a suburb of Albany, NY and the really high taxes are in Long Island and the New york City Suburbs. Most of the local taxes are the result of the high paid public school teachers and the really high paid administrators of which there are too many.  For example a high school may have half a dozen principals and vice principals.  The non school taxes are driven up by the generous police and fire pensions as almost all firemen and policemen get full pay and benefits while disabled and the disability can be almost anything as the unions insist cancer and heart ailments are all job related.  Local fire departments have more firemen living on disability pay  in Florida  working in physical jobs  than working in the local fire department, Also police and firemen double and triple their last years pay with overtime pay which doubles and triples their retirement.  The retirement is tax free in most cases because they are on the job one day and totally disabled the day they retire.  The bulk of the remaining local tax collection goes to cover the local share of the State's generous and fraud riven Medicaid program which costs twice as much per participant than any other State.

Oct 23, 2013 3:29AM
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Only a blithering IDIOT would live in Calfornica at any stage of their life...let alone when they are retired! Ditto for New York! And New Jersey especially!

Oct 23, 2013 11:54AM
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Financial servitude. America thrives on it. Our backroom political crap shooters depend on it.

Out sourcing good paying American jobs are to blame.

Love my country, fear my government.

Oct 23, 2013 12:12PM
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The United States and most of the States  are close to reaching a tipping point. The country is essentially bankrupt. What our leaders are doing is postponing the inevitable with debt financing. There are three solutions to the problems: the first is debt repudiation and bankruptcy, the second is  inflation which makes the debt worthless or close to it. Both of these outcomes could lead to revolution. The third way is to grow the economy. Under the present leadership this won't  happen.    
Welcome to a live in America of less and less. 
Oct 23, 2013 11:29AM
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Retirees must come to California.  The tax crazy bastard socialist democrats will tax the living crap out of you.  I need that money now that I have moved.
Oct 23, 2013 11:28AM
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All the NY and NJ people are moving here after they retire and yes these are mostly liberal democractic states who have enacted more taxes in order to fund the political pandering.
Oct 23, 2013 12:00PM
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****es vote liberal Democrat only to get highest taxes, COL, and out of control spending, then  whine about Republicans who cuts taxes on all incomes (Bush tax cut) and spending. 

 

You just can't cure stupid.  

Oct 23, 2013 11:42AM
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Sum it up....................the United States as long as Obama is president.
Oct 23, 2013 10:43AM
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Where is New Mexico? I had to pay income taxes on my tax refund money- have to pay for all those entitled in the 'Land of Entitlement', oops, I mean the '"Land of Enchantment"
Oct 23, 2013 12:04PM
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All liberal states but two! When are you liberal morons going to wake up and realize you pay dearly for a so called free ride. 
Oct 23, 2013 11:50AM
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I live in Cali and the property tax calculations seem off.  According to this my property tax should be about $6,700 per year when, in fact, it is ~$9,900 per year.
Oct 23, 2013 11:48AM
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I don't agree with Oregon. When you retire, you finally get a break on taxes. The property tax is still a fraction of California's because of the ridiculous value placed on homes there. Your medical can be written off dollar for dollar on your state return. Your S.S.isn't taxed unless you bring in huge bucks in retirement, and as the article says, up to $6100 can be written off on state for Fed taxed income.  It's still one of a handful of states with no sales tax. How is this a tax nightmare? I have in-laws who just retired here from California, and they are happy as a clam at the tax difference.
Oct 23, 2013 2:25PM
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California residents pay the highest income tax rates in the U.S. The state sales tax increased from 7.25 percent to 7.5 percent in January. 

And we are still broke. I guess providing for millions of illegals that vote democrat is expensive!
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