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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72Comments
Mar 30, 2014 7:37AM
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        The government should take a tax - friendly  lesson from these states instead of constantly  shaking the taxpayer down. Stop giving money to counties that hate us and give it to our military  personnel  that protect us. Enough already of buying some foreign country's freedoms with American blood, if they want those freedoms let them spill their blood for them so they learn to hold them dear. This is just the beginning of a long list of things that should be stopped or as least directed to our own. Lets solve our problems not theirs !
Mar 30, 2014 7:50AM
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Alaska No.1? Anyone check the cost of living in Alaska? This article is just plain stupid, who cares if the taxes are low when the cost of living is so high?
Mar 29, 2014 5:43PM
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Fact check that GA. is phasing out all state property tax by 2016?
Mar 30, 2014 3:50AM
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Nevada's sales tax is 8.1%, not 6.5

 

Mar 30, 2014 4:02AM
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Why not Alabama?  For seniors with income of $40K or below, there is no property tax or income tax.  The cost of living is a lower in most every category than any other state.  Florida might look good if you do not consider the high home insurance due to hurricanes.
Mar 30, 2014 5:43AM
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Exactly, Alabama would and should be on the list. Who would want to live in Florida anyways? What am I saying?  Alligators', large snakes and illegal's for drug trafficking. I don't know who does these type of reports, is it real estate millionaires trying to become billionaires in the super pak?
Mar 30, 2014 9:45AM
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Mississippi,   oh yeah.  I can hardly wait to move there to save a couple nickels.
Mar 29, 2014 5:43PM
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One flaw with the criteria in this article for determining most affordable states is that Seniors often take advantage of county senior centers, senior health benefits of the county health dept, the transportation system, and quality hospitals.

This survey appears to believe they stay home all the time.

Mar 30, 2014 9:09AM
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The FL info is correct to a degree. It leaves out the exceptionally high costs of Homeowners Insurance, HOA Fees in most places as FL has sold itself out to developments catering to the dying boomer generation (not younger families) for the quick cash gain now, property taxes that can equal or eclipse the high insurance costs, usage of park facilities in many counties has one or more fee's associated with it usually starting with parking, and then when you get past all that you get the blessing of sitting in traffic to go a mile or two. The waters are polluted, the drinking water supply is poor, the fishing has been depleted so even sport fishing is poor, and the fishing industry that made FL's coastlines a mecca for great seafood has bee douched almost out of existence. The citrus groves are being neglected in many place, farmers tried to make a quick buck selling out at "boom" times and are now ridden with trees that are infected with some asian tree cancer, over inflated property values, and few buyers except the hedge fund liars who make more developments to prey upon the retiring Boomer generation. As an added bonus most coastal towns, Fort Myers for instance, has corruption that runs from city seats to the county and right through the State Senate and Governor seat. 

Why the hell would anyone consider retiring or moving to Florida? Because thins like this **** rating tell them its a cheap state to live when in fact it isn't. Even the pay to COL difference is so wide its not even a fair comparison. Everything about FL is designed to take money AWAY from its residents and visitors, not live cheaper. 

No. 10: Florida

State income tax: None
State sales tax: 6 percent
Estate tax/inheritance tax: No/no

Mar 30, 2014 1:07PM
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I could live in Wyoming...but the others? No thanks.
Mar 30, 2014 12:39PM
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I don't know about the rest of the state, but Nashville Tennessee has 3 of the top 5 Hospitals in the Country which I find particularly pretty important as folks are aging. Also ZERO State tax, and a decent cost of living as compared with other states. In my 14 years here I have seen almost no sign of the apparent recession that the rest of the country saw a few years ago. and there are so many things to do around here (including the Grand Ole Opry and great off Broadway shows at TPac). The central location puts you in Atlanta, Cincinnati, St. Louis, Indianapolis, Louisville, Pigeon Forge, Memphis, and casino's in Tunica Mississippi, Cherokee North Carolina, Paducah Kentucky, Evansville Indiana all within 2 to 5 hours by car and daily (cheap)busses  running to the Tunica and Paducah locations.  Nashville is an AWESOME place to retire.
Mar 30, 2014 8:55AM
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No. 10: Florida

State income tax: None
State sales tax: 6 percent
Estate tax/inheritance tax: No/no

Mar 30, 2014 10:20AM
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Many states who have no state income taxes  have higher property taxes. Some have less services as a result of less taxes. It probably equals out in the wash unless you live in really high tax states such as NY, NJ, CA, or CT.
Mar 30, 2014 12:22PM
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Dark lord, you say the government should take a lesson from these states? These states do not have to pay for the trillions going out to military. Did you know that the military has about 55% of the budget? That is also owns 3/4 of the debt?  Foreign aid is actually exchange for being our friends and allowing us to have military installations on their soil.  The remainder of our budget pie is everything else, which includes everything else.  Taxes are actually at the lowest level they have been in over 60 years, but look where it has us! We are shaving off all the services and programs for the most vulnerable and it is costing jobs, costing us a much lower quality of life. Parks, libraries, pools, schools, senior centers and community centers are closing down everywhere so the Koch brother types can have even more to add to their billions. We give huge subsidies to places like Walmart so they can hire people at minimum wage that don't pay taxes because they are poor and further more they have to rely on public assistance to survive. You don't get anything for free. Taxes pay for things we need...start going after the real culprits: the wealthy folks and corporations that have bought off our politicians who refuse to raise their taxes and leave everyone else in the country struggling to survive and no quality of life!  It is not all going to other countries...other than in bombs, but we are losing a ton to the big boys!
Mar 30, 2014 9:04AM
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Articles such as this always remind me that I am really, really pleased that I didn't vote for Barry Obama in either election.  I guess that's just the racist in me.
Mar 30, 2014 12:53PM
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More tail wagging the dog, anti-tax propaganda. If the complex and personal decision to retire after a lifetime of work was merely based on the simplicity of lowest taxes, why isn't everyone clamoring to move to these 10 states? Last I checked, I'm not taking any of my money with me when I die.That 4000 square foot house that's so affordable in the moonscape of Wyoming-you can have it! Go ahead, follow this article's mantra and move to save precious dollars. Enjoy living in places that are either too hot and humid, too cold, too desolate, too remote, or too far from your family-you'll have plenty of time to count your money over and over-sounds like a fun way to live, doesn't it?
Mar 30, 2014 1:30PM
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Another Poorly formatted article, slide shows are so 1999
Mar 30, 2014 9:29AM
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I agree that Alabama should be on the list, but really, who'd want to spend any amount of time there, and if you're in the more temperate climate near the coast, you'll not be exempt of any hurricanes either.   Many reports are not heavily researched by "news outlets" that run 24/7/365 and we, the public, are often gullible consumers of the information or indoctrination that is published.  Keep it light and look at this as an entertainment industry. 
Mar 30, 2014 1:42PM
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Givernment will tax anything they can.  Take from the maker, give to the taker.
Mar 30, 2014 2:13PM
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Ok, let me tell you about Nevada, since I live here.   
There is not state income tax, but there is a state business license fees of around $300.00 a year if you own a business, that doesn't include the city business license fee.  There are employer taxes that have been implemented in the last 5 years that replaces the state income tax.  
The sales tax depends on where you live, Carson City 7.475% and looking at raising it, Las Vegas 8.1%,  Minden/Gardnerville 701% etc.  There is not a county in Nevada that is under 6.85% sale tax and none of them are looking to lower the sales tax.  This writer doesn't know a thing about Nevada.
This is how the property tax is determined in Nevada.  Take the $207,600. X 35% X 3.65= $2,652.09
The amount of the property times the % rate times the rate that is determined by the state and county where you live equals the amount of property tax that you will pay.  It is no where near $1,749.00 a year, you can double it and will be a safer amount to rely on.  Your property taxes go up every year here and if your neighbor sells their home for a lot more that the $207,600 your are reassessed at that amount, not what your home was purchased for.
Also, people over 65 are not given a break on their taxes, they pay the full amount there and it doesn't matter about their income either.   Nevada uses fuzzy math to do their property taxes
I would suggest you look for another state to move to, that is what we are doing now that we are retirement age.l 
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