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Tax-Unfriendly States for Retirees~Top 10
Old 11-06-2010, 01:10 PM   #1
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Tax-Unfriendly States for Retirees~Top 10

Are you included in this list? Income and sales tax seems to be the reason for being included in this group.

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Some states offer attractive tax benefits for retirees. Not these states, however. Here's our list of Tax-Unfriendly States for Retirees, either because of higher-than-average taxes across the board, or for policies that don't exempt much retirement income from state taxation. Where's the best state for you to retire? For retirees living on a fixed income, state income and sales taxes can really eat into your nest egg.
tax-unfriendly-states-for-retirees: Personal Finance News from Yahoo! Finance
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Old 11-06-2010, 01:42 PM   #2
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Just looked at their writeup for Ohio and found a number of errors in their data, so I'd take all this with a grain of salt.

My favorite scenario relates to what a friend did some years ago, moving to Vancouver, WA. He lives in a state with no income tax, and Portland, OR is right across the river so he can shop where there is no sales tax. Nice combination!
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Old 11-06-2010, 02:46 PM   #3
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California! Hurray, hurray! We're #1!
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Old 11-06-2010, 07:51 PM   #4
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I can't believe that NY did not make the top 10. They are usually #1.

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Old 11-06-2010, 09:26 PM   #5
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I don't feel like paging through the whole slideshow to find out what the top ten states are. Hopefully Missouri isn't one of them.
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Old 11-06-2010, 09:50 PM   #6
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NJ has highest in the nation property taxes. Our schools fair high in national test scores. Home rule is big here with 565 municipalities and over 600 school districts. The Medicaid system here covers children, the poor and the elderly. There is a program that limits property tax increases for retirees. Retirees typically receive an annual property tax rebate as well.

Gasoline tax is among the lowest in the country. No tax on food or clothing.

We're among the top in per-capita income.
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Old 11-07-2010, 12:15 AM   #7
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Quote:
Originally Posted by braumeister View Post
My favorite scenario relates to what a friend did some years ago, moving to Vancouver, WA. He lives in a state with no income tax, and Portland, OR is right across the river so he can shop where there is no sales tax. Nice combination!
Yup. Good idea.
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Old 11-07-2010, 08:29 AM   #8
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Quote:
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NJ has highest in the nation property taxes. Our schools fair high in national test scores. Home rule is big here with 565 municipalities and over 600 school districts. The Medicaid system here covers children, the poor and the elderly. There is a program that limits property tax increases for retirees. Retirees typically receive an annual property tax rebate as well.

Gasoline tax is among the lowest in the country. No tax on food or clothing.

We're among the top in per-capita income.
We have no kids and just keep driving around in a large pickup.
Greetings from New Jersey!

LOL, I wish that were true. My quarterly RE tax on an average home is twice what relatives pay in other states for a full year.
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Old 11-07-2010, 08:43 AM   #9
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This is what I use. Not a rating comparision, but you can see who does what:

Taxes by State
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