Tax comparison between US States

[jmc]

If your thinking about retiring to another state, this might be interesting. Breaks down each states' taxes by State, inheritance, vehicle, retirement income exemptions, property. Fed taxes not include since they're the same everywhere. Some states (mine) also have county taxes that vary by county so they didn't include that but it's easy to look up.

State-by-State Guide to Taxes on Retirees

 

[polo1665]

Interesting site, a lot of info. Thanks for posting it.

 

[Agvg]

Do you feel you got value for what you pay for in the form of taxes?

 

[MAD777]

Very interesting. However, state wide averages can be deceiving. For instance, my state has only property tax, which varies by town. The range across the state is $6 to $34 per $1,000 depending on the town. There's no income tax or sales tax. So for me, my tax burden is solely determined by which town I live in, not which state.

 

[polo1665]

Do you feel you got value for what you pay for in the form of taxes?

To be completely honest, I feel like a lot of other people get value for what I pay in the form of taxes. That discussion however, is inherently political, and is verboten here.

 

[Hay Dude]

Live in PA, but DE is only 1/10th mile away with tax free shopping & fuel.

 

[Oaktree]

Very interesting. However, state wide averages can be deceiving. For instance, my state has only property tax, which varies by town. The range across the state is $6 to $34 per $1,000 depending on the town. There's no income tax or sales tax. So for me, my tax burden is solely determined by which town I live in, not which state.

Yes, this is very deceiving. Comparing property taxes from one state to another is very apples and oranges...some states re-assess property every so many years, while others go by purchase price...so if you paid $30,000 for your house in 1972, that's what your tax rate is based on as long as you own it. Seems unfair to me.
Also, home values vary considerably from state to state...yeah the tax rate in state A might be half of what state B's is, but if the average house price is double it all comes out in the wash.
I had to laugh when I saw California listed as "tax friendly".

 

[wngsprd]

I usually find Kiplinger to be quality information, but I found a significant error in what they show for my state - Virginia. Don't know enough about other states.

I also did a 5 state comparo and would argue that they are incorrectly labeling states...I don't agree with showing California and Washington as tax friendlier than Texas and North Carolina. It certainly depends on your income level, spending habits and the real estate/vehicle you own.

 

[polo1665]

I usually find Kiplinger to be quality information, but I found a significant error in what they show for my state - Virginia. Don't know enough about other states.

I also did a 5 state comparo and would argue that they are incorrectly labeling states...I don't agree with showing California and Washington as tax friendlier than Texas and North Carolina. It certainly depends on your income level, spending habits and the real estate/vehicle you own.

What was the error that you found for Virginia?

 

[TractorGuy]

Yes, this is very deceiving. Comparing property taxes from one state to another is very apples and oranges...some states re-assess property every so many years, while others go by purchase price...so if you paid $30,000 for your house in 1972, that's what your tax rate is based on as long as you own it. Seems unfair to me.
Also, home values vary considerably from state to state...yeah the tax rate in state A might be half of what state B's is, but if the average house price is double it all comes out in the wash.
I had to laugh when I saw California listed as "tax friendly".

We get a Save Our Homes discount. It doesn't stop our taxes from going up but offers some protection against inflation. After you retire your income typically doesn't increase that much so it seems perfectly fair not to increase one's property tax beyond their means. We have Californians moving to our state all the time and paying above market value for property. If our taxes tried to keep pace with their escalating property values we would be homeless in a few years.

I usually find Kiplinger to be quality information, but I found a significant error in what they show for my state - Virginia. Don't know enough about other states.

I also did a 5 state comparo and would argue that they are incorrectly labeling states...I don't agree with showing California and Washington as tax friendlier than Texas and North Carolina. It certainly depends on your income level, spending habits and the real estate/vehicle you own.

I bought a stockcar from a guy in Virginia a few years back. He was telling me how your license plates were priced by vehicle value. This seems terribly unfair to me. He said he won't own anything less than 10 years old. I'm sure many others in that state adopt the same practice. Seems the auto dealers would lobby against that. Ours tags are based on vehicle weight.