Categories: Featured Post

Ready to Retire? Here Are the Top 25 Most Tax-Friendly States For You

Photo by wavebreakmedia from Shutterstock

21. Idaho

  • State sales and average local tax: 6.03 percent
  • State tax on your Social Security: None
  • Effective property tax: 0.75 percent
  • Income tax rate (65+): 6.93 percent

Those who want to spend their golden years in Idaho will benefit from a reasonable low property tax and no tax on their Social Security benefits. Yet, the Gem State is found in the 21st position. Why? Because its income tax rate is pretty high. The 4th highest on this list, to be precise.

20. Texas

  • State sales and average local tax: 8.19 percent
  • State tax on your Social Security: None
  • Effective property tax: 1.69 percent
  • Income tax rate (65+): 0 percent

Texas is tax heaven for most seniors. Participants of a recent survey even said Texas is one of the cheapest states to move to during retirement. If you decide to relocate here, you will enjoy your full Social Security benefits since the state doesn’t have taxes on them. In fact, no income taxes are applied here. However, like all things in life, Texas has its downfalls, too. Its high sales tax and property tax rates make it really difficult to purchase a home.

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13

Recent Posts

  • Seniors' Club
  • Travel

12 Useful Travel Tips Every Senior Should Know

Now that we have vaccines, many seniors are eager to travel again. While many of…

3 years ago
  • Tips & Tricks

10 Scams Every Tourist Should Watch Out For

When you're traveling, you're not spending all of your time and energy trying to figure…

3 years ago
  • Health
  • Nutrition

10 Benefits Of Lemons That’ll Surprise You

Don't you have a member in your family that grabs a lemon and easily eats…

3 years ago
  • Entertainment
  • Fun Dose

10 Crazy And Hilarious Movie Gimmicks

Ever since it started, the motion picture industry hasn't ceased to impress its audience with…

3 years ago
  • Entertainment

12 Classic Game Shows Most People Have Forgotten About

Most of us have a favorite TV show we loved so much that we used…

3 years ago
  • Body & Mind
  • Health

6 Doctors You Should Never Go To

Have you ever thought about having surgery? Maybe you have a medical condition and you…

3 years ago