10 most tax-friendly states for retirees

Over time taxes can take a big chunk out your nest egg. These low-tax states can make your retirement funds go a little farther.

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219Comments
Oct 26, 2013 3:51PM
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According to Harry Reid, people don't mind paying more taxes, and actually want to pay more.  (he made this statement just the other day.)  He certainly doesn't speak for me, and I seriously doubt his sanity. 
Oct 21, 2013 1:18PM
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Moved to Tampa area last year after retirement.  Looked around for a while and it was hard to beat Florida for property avail. and price, low taxes, etc.  Lots of pluses here that other places couldn't measure up to, culture, climate, services, taxes, cost of living, etc..  Lived and worked in Texas and this place beats Texas hands down.  My annual property tax here is less than my SCHOOL tax in Texas, much less all the rest of it.  No, it's not paradise, but I like it here and I can afford it and live comfortably.
Oct 21, 2013 11:36AM
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I think the writer better go back and check on property taxes.  Sorry but Nevada's is much higher than reported.    Also, taxes are only one consideration when considering a place to retire.  The cost of living and the availability of services is another.     Alaska is not the place to retired due to the very high cost of living and the very very long Winters.  
Oct 26, 2013 3:27PM
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I live in Texas. There is no state income tax and you can buy a BEAUTIFUL LARGE brick home--a mansion if you wish--for under 200K.  You can live the good life in Texas and not even have to scrimp and save to do it. The lone star state should have been on this list. Any state that has NO STATE INCOME TAX should be on this list actually.
Oct 26, 2013 3:28PM
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I was surprised Texas was not ranked? The state has no income tax!!!
Oct 26, 2013 3:29PM
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Nothing like giving liberals directions as to what state they can move to so they can screw that one up by voting to raise their taxes!
Oct 26, 2013 3:23PM
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The information given, provides insight into specific taxes, e.g. sales tax, property tax, inheritance tax. However, nothing is said about the basic requirements of living in those selected states. For example: Air conditioning will easily cost in excess of $500 per month in desert locations, while northern latitudes will incur huge heating costs in winter. Also, property maintenance is higher--wood rot, termites, a variety of repairs. Access to quality doctors and hospitals, too.

 

Look at the whole picture when you make the retirement decision. You may find that you are better off right where you are.

Oct 21, 2013 4:11PM
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South Carolina,
Article forgot to mention the very high tax you have to pay on your vehicle/boat etc each year.
The more expensive the vehicle etc., The more you pay.
Oct 26, 2013 3:31PM
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Please consider more than just income tax if considering retiring to Fla. Will you be able to take the heat, humidity, bugs.dirt and all the other little things most people don't  think about  when considering a place to retire. We moved to Fla 3 years ago in April. The summer heat was almost unbearable. After 3 years we came back to Tennessee, and will die here. Really can't think of a single thing that was cheaper in Fla than it is here.
Oct 26, 2013 4:37PM
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Minnesota is a very high taxed state... Food And I am sure clothing will be pretty soon ... Just don't fart in this state you will be TAXED  ...But we do have free snow ..he he he
Oct 26, 2013 3:14PM
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sales tax in phoenix arizona is 8.3% this article is wrong. i live here i so i should know
Oct 21, 2013 1:31PM
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The 6 percent sales tax reported for Florida is the base rate and doesn't include the "local option" sales taxes that counties are allowed to collect.  There are 9 counties that charge 7.5 percent out of 67 counties and only 11 that collect the base 6 percent.  Check the rates when you are researching where to buy a house.  Also be sure to check on how much utilities such as electricity cost.  Some cities are MUCH more expensive than their neighbors.
Oct 26, 2013 3:38PM
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what states have  a food tax? and that is worse than a income tax  
Oct 26, 2013 3:39PM
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I lived in Florida for 5 years and wish I was still there. Circumstances beyond my control caused me to move to a different state. The only things I didn't like about Florida were the billions of bugs and insects and the high humidity. I could have lived with those, but now I'm somewhere I don't want to be and don't have the money to move back to Florida. Hind sight is always 20-20.
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the states with natural resources, i.e. oil , natural gas and coal are one and two, predominantly republican. Also low unemployment and Dems hate it cuz the agenda doesn't work here. No food stamps needed here. 
Oct 21, 2013 1:03PM
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It all rather depends on you income level.  If you have a fat income you may want to avoid states with income tax.  Most retirees, by far, do not have fat incomes.  Then you want to avoid states with high sales tax or any sales tax if possible.  The lower the income the greater the sales tax penalty.  If your income is low enough seniors are frequently exempted from paying property tax.  Where possible pay a little attention to the hidden sales taxes (aka excise taxes) in, for example, gasoline.  Unless you have a really fat estate (more than $1,000,000) you really don't have to concern yourself with inheritance or estate taxes.  (You're dead anyway so what do you care?)
Oct 26, 2013 3:38PM
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There is no tax on food in Florida.  That is the major cost in a retirees budget.
Oct 26, 2013 3:25PM
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Who the phuck would want to retire in Alaska?

Oct 26, 2013 3:31PM
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Wyoming is a great State, no doubt, but it does have one of the highest vehicle registration rates in the country as well as one of the highest, if not THE highest, medical insurance premiums under the new ACA (ObamaCare).
Oct 21, 2013 12:50PM
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Wait, low taxes make your dollar go farther?  So a high level of services that state taxes pay for aren't all necessary in retirement, but they are for working people?  Just trying to understand the liberal perspective is all.
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