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Move 24: Retire with low taxes
Charleston, S.C., is a good low-tax city in which to retire.
With many states suffering frightening fiscal shortfalls, heftier taxes may lie ahead. These senior-friendly towns (low cost of living and crime, good hospitals) boast relatively low taxes now -- and are in financially strong states that are unlikely to impose hikes in the near future.
Laramie, Wyo.
State income tax: None
Sales tax: 6%
Median property tax: $1,029
Median home price: $162,000
Bloomington, Ind.
State income tax: 3.4% (Social Security is exempt)
Sales tax: 7%
Median property tax: $1,079
Median home price: $138,000
St. Michael's, Md.
State income tax: 4.75% (Social Security and some pensions are exempt)
Sales tax: 6%
Median property tax: $1,526
Median home price: $307,000
Charleston, S.C.
State income tax: 7% (Social Security and some pensions are exempt)
Sales tax: 8.5%
Median property tax: $1,110
Median home price: $179,000
NEXT: Move 25: Download Retire Logix
Last updated April 28 2011: 11:32 AM ET
Source: Tax Foundation, CCH, National Council of State Legislatures, Trulia, local realtors
None of these states have 2011 budget shortfalls. Income tax for income of $75,000. Sales tax is state and local; property taxes, county.
None of these states have 2011 budget shortfalls. Income tax for income of $75,000. Sales tax is state and local; property taxes, county.
