Here’s an excerpt from a new blog over at Eastern Shore Housing:
Thanks to Twitter and Schell Brothers (@SchellBrothers) we learned this week that Delaware is officially the best place to retire. Kiplinger’s Magazine researched the total tax burden — income taxes, property taxes and sales taxes — for a typical retired couple in each of the 50 states and Washington, DC. And the results are clear: Delaware retirees pay far less in taxes than retirees living anywhere else in the country.
Retirees who live on a fixed income need to choose their place of retirement wisely. With taxes sometimes taking a big chunk of the household budget, retirees should look for areas that offer low taxes overall, and a state with no income tax (like Florida or Texas) isn’t always the answer.
Kiplinger’s factored in the finances, expenses and incomes of a hypothetical couple with each state’s average home price and compared the “retirement tax bite” state by state. Living in Delaware, the average retired couple enjoys zero income tax, zero sales tax and relatively low property taxes. According to Kiplinger’s a couple in Delaware can expect to pay about $543 a year in taxes.
Taxes in the runner up state, Alaska, are nearly double that at $1,032 and in Pennsylvania, the country’s least tax friendly place for retirees, couples can expect to pay about $7,391 in taxes. For all the results and details, check out the original article here.
You can read the whole blog here.
We’ve been saying it for a long time, and finally it’s catching on! Delaware IS the best place to retire in the US! Read more about why Delaware is for you over at Delaware4U.
