Kiplinger recently ranked the top states in which to retire based on special tax breaks for seniors, easy access to amenities, and active lifestyle opportunities for older adults. Using dasta from Kiplinger’s, AOL Real Estate recently determined Georgia ranks among the top 6 states empty-nesters and retiring baby boomers should consider. Along with reasons you might have already considered like climate, tax breaks are the main reason Georgia ranks high in attractiveness for places to retire. Social security income and up to $35,000 of most types of retirement income are exempt from taxes. You can read the full article on AOL. Other states that ranked high are:
- Arizona: Home owners who meet certain residency requirements and are ages 70 and up can apply to defer their property taxes.
- Delaware: It has no state or local sales tax, and older home owners may be able to qualify for a property tax credit up to $500.
- Florida: The state has no inheritance tax, state tax, or retirement income tax.
- Louisiana: Civil service, state and local government pensions, as well as military income and social security, are exempt from the state’s income taxes.
- Mississippi: It has one of the lowest property taxes in the nation.