8. District of Columbia
The Capital of the World: Washington, DC, the U.S. capital, is a dense city on the Potomac River, adjoining the states of Maryland and Virginia.
It is worth considering spending your golden years in D.C., whether the motive is to be near family and friends or to hear the Atlantic coast calling your name.
Even though the overall cost of living in Washington, D.C., is high, the regular tax load for retirees isn’t.
The District of Columbia releases all Social Security retirement reimbursements from the city income tax and offers a presumption against government pension income.
But, at the same time, it taxes other income from retirement accounts.
Which one of these tax-friendly states is your favorite?
8 Responses
I am astounded you have left out NH. Taxes were a primary consideration after I retired from the Army in 1992. We have have NO income tax or state sales tax in our state. Need I say more? In addition we have the lowest state tax on gasoline in New England. The argument that our high property taxes wipe out the other tax advantages does not fly!
Utah would be a much better place to live than Nevada with its dependence upon gambling taxes.
very informative wish that I had known before retiring,
we live in Arkansas and we are at full retirement age. if we still work do we need to have taxes held out of our social security checks
Does anyone have personal experience with retirement in South Carolina? Is it as tax-friendly as it sounds?
Does anyone know if Arizona has an income tax for seniors? I’ve been thinking of moving there to be closer to family, but I would like a first-hand account from someone who retired there!
I’m considering relocating to Colorado. What are the long-term financial implications for retirees?
I’m moving from Florida to North Carolina any suggestions