The Lowest Tax States for Retirees

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NEW YORK STATE SALES TAX IS 8.675%

RJR of NY 9:09AM April 18, 2010

"The most expensive, and therefore worst, state for retirees is California. Seniors in the highest tax bracket not only pay a whopping 10.55 percent income tax rate, but they also pay an 8.25 percent sales tax each time they go shopping."
Gov. Schwartzenegger raised the taxes to their current rates. Being a good socialist whose father was a devoted Nazi to Hitler and National Socialism, such actions are in his blood. No wonder he refused to meet with Bush when he travelled to California as President but has met with Obama every time he comes to the golden turkey state.

Steve of SC 8:29AM April 18, 2010

After retirement state income tax is not that critical. Property and sales taxes become irksome hurdles to cross. In Texas the property taxes are too high and any retiree should do his math before moving in there.

SAM B of TX 6:03AM April 18, 2010

...so unless every retirement dollar is critical, LIVE where you really WANT to live, whatever the reasons. You'll get by, and, if you're truly happiest there, isn't it worth the extra cost? Monetarily, sounds like Alaska is THE place to go. It wouldn't be my last pick, but probably in the last three or so.

Ron of CA 4:01AM April 18, 2010

It can be the cheapest state to live in once you have your house if .... if you locate to a low real estate tax town...... the range goes from about 10 dollars per 1000 to almost 50 per 1000 so choose wisely..... another tip for the frugel in NH..... drive an older car .... the excise tax is small once the car is over 5 years old..... NH is a state where you can live cheaper but beware the tax and spend crowd are growing in numbers..... the old frugal NH yankee that kept the over all tax bills low is going extinct.....

chris of NH 2:34AM April 18, 2010

or be a permanent tourist..... a boat can provide a home that moves.....if you don't like one area ya vote with your sail..... good luck....

chris of NH 2:24AM April 18, 2010

We've heard all this before. But let's think out of the box and here's a thought:
These states don't have individual income taxes: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. These states charge no sales tax: Alaska, Delaware, Montana, New Hampshire, and Oregon.
So the best place to live is Alaska. Or live in Washington along the Oregon border and shop in Oregon and avoid paying sales taxes. Same goes for living in Wyoming or South Dakota and shopping in Montana or living in Nevada and shopping in Oregon. You don't pay personal income taxes or sales taxes.

cheap of AK 11:57PM April 17, 2010

i agree with texas. mississippi taxes 5% state income and 7% sales tax and provides little or no benefits for your taxes except paying the welfare benefits of the many uneducated and unemployed with no planning to improved this continuing trend

A of MS of MS 9:08PM April 17, 2010

Colorado and New York may have low state sales taxes, but the major cities there have high local taxes. And Ron and Larry are right, you have to take property taxes into account. Indiana, for example, does well in that respect plus it has a flat income tax. Still, I think Texas is as good a place to retire as any. The cost of living is quite low and the weather is usually good.

Micahel 7:01PM April 17, 2010

The state of California is simply not worth it anymore. It was a great place to live back in the day. But the last 15 years under liberal rule have not only ruined but bankrupted it.
IOU's last year handed out for months at a time, this year it's going to be even worst. My prediction......bankruptcy in the next 12 months, just like things to come at the federal level.

Jon of CA 4:56PM April 17, 2010