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ideal-LIVING
Retirement Blog

Tax Friendly States

Fall_TaxImageFind Your Ideal Living Location in The Most Tax Friendly States

Planning your retirement is an important life decision. After all, you have worked hard for it, so you want to make the most of the opportunity. Deciding on all the personal preferences you want in your retired life comes first—golf courses, fitness centers, the beach—but once that is figured out it is time to move on to the less thrilling, but equally important side of things. Money. You want to make sure you are getting the most for your dollars, so moving to a state with lower taxes or states with no retirement income tax at all is something to look into.

Benefits of Tax Friendly States

Alaska is the only state without state income tax or sales tax. As appealing as that sounds, most retirees are not looking to move to a place with true winters. Instead, they are looking to move to a place that is warmer, with less intimidating winters. Despite the attractive tax offer in Alaska, other states are becoming more tax friendly and are changing tax rates and exemptions to attract “amenity migrants.” Texas and Florida take the lead tax-wise as states with no retirement income tax at all, and Tennessee follows closely, only taxing dividend and interest income. Both Georgia and North Carolina have made significant changes to their taxes recently, angling their tax benefits to attract more retirees who want to live in tax friendly states. Most states specifically exempt Social Security and pensions from taxes, which is an attractive feature for retirees who receive a bulk of their income through those means. Below is a table offering a quick look at several most friendly tax states and how they compare to each other tax-wise.

State Income Tax Sales Tax Social Security
North Carolina 6-7.75% 4.75% Exempt
Florida None 6% Exempt
Georgia 1-6% 4% Exempt
Tennessee None (only dividends and interest) 7% Exempt
Texas None 6.25% Exempt
South Carolina 3-7% 6% Exempt
Virginia 2-5.75% (Statewide local rate of 1%) 4% Exempt
Delaware 2.2-6.75% None Exempt

Communities from Tax Friendly States Will Be at Upcoming Expo

The majority of the states listed above are warm weather states, which is a big factor in deciding where to retire. People want warm weather. But based on their income tax, these states are also favorable when it comes down to your money, and how much of it you will have in order to enjoy your new living environment. However, this is just a small sample of information on tax friendly states. At the ideal-LIVING Resort and Retirement Expo, there will be 8, tax friendly states present (NC, VA, DE, GA, SC, TN, MD, FL), ready to answer your tax questions more in depth. But it is not just tax information at the Expo. It is an in depth look the places you are considering retiring to, and the communities within. It is an experience you do not want to miss out on when seeking out where to retire!

(Source: Kiplinger.com)


Request information from these Tax-Friendly Communities

Stonecroft Village

Stonecroft Village

Womelsdorf, Pennsylvania

The 55+ community of Stonecroft Village, set in the beautiful Tulpehocken Creek Valley of Berks County, PA, was designed with relaxation, natural beauty, and recreation in mind, to be enjoyed alongside neighbors 55 and over at a similar stage in life.
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PA


The Isles of Collier Preserve - Florida Gated Communities

The Isles of Collier Preserve - Florida Gated Communities

Naples, Florida

Nestled within a pristine natural setting just minutes from downtown Naples and the vibrant 5th Avenue shopping and dining district, Florida's preeminent homebuilder is creating a colorful update of classic coastal living. Inspired by the timeless architecture and traditions of Old Naples, elegant new Minto homes will overlook miles of scenic kayak and biking trails.
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FL


Logan Homes - Home Builders in Premier North Carolina Communities

Logan Homes - Home Builders in Premier North Carolina Communities

Leland, North Carolina

Logan Homes offers 80+ beautiful home plans, tons of choices, quality craftsmanship, energy efficiency and the innovation that will enhance your lifestyle - all for a very smart price.
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NC


Albemarle Plantation - North Carolina Gated Communities

Albemarle Plantation - North Carolina Gated Communities

Hertford , North Carolina

On the North Carolina's Inner Banks is a golf and marina community with a lifestyle like no other! Perched between historic Edenton and Elizabeth City, NC, it's an easy drive to any major city along the coast going north or south. With easy access to Tidewater Virginia and the Outer Banks of North Carolina, you will experience small town charm and big city culture at its finest.
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NC


Rarity Bay

Rarity Bay

Vonore, Tennessee

Rarity Bay on Tellico Lake is an award-winning gated lakefront community that combines waterfront living with mountain views and amenities that include a country club, championship golf course, tennis and pickleball facilities, swimming pool, community docks, horseback riding, hiking trails, and more. Come be a part of it and make the majestic Smoky Mountains and serene, clear waters of Tellico Lake the backdrop for your vacation home, second residence or forever home.
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TN


Lucero Golf & Country Club

Lucero Golf & Country Club

Chiriqui, Panama

Also known as a Paradise in the Sky, Lucero is the perfect property to retire and to find a second home. You can choose from our Duplex Villas, our Townhome, our a condo, each of them will be designed by paying attention to detail and according to your preferences. With us you will find a place to disconnect from the world and get lost in nature.
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PAN


Sunrise Village - Active 55+ Resort

Sunrise Village - Active 55+ Resort

Mesa, Arizona

Step into this active 55 plus community in East Mesa and be amazed at how affordable a resort lifestyle can be! You will discover friendly people, luxury amenities and newly remodeled homes from the $30s. Our gated community offers a year-round calendar of social events planned by our Activity Director.
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AZ


Encore at FishHawk Ranch by David Weekley Homes

Encore at FishHawk Ranch by David Weekley Homes

Lithia, Florida

Grab a workout buddy and hit the gym or satisfy your competitive side with a spirited game of bocce or pickle ball. Meet on the great lawn for yoga or lounge by the sparkling pool.
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FL


Plantation Bay Golf and Country Club — Florida Golf Communities

Plantation Bay Golf and Country Club — Florida Golf Communities

Ormond Beach, Florida

An abundance of sparkling new facilities take this prestigious private community to luxurious new heights, with two clubhouses, a magnificent 7,000-square-foot Spa and Fitness Center, 10 tennis courts and 45 holes of golf to challenge and delight players of all levels. Plantation Bay is the perfect place to get pampered, stay in shape and play, all right in your back yard.
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FL


K. Hovnanian’s Four Seasons at Belle Terre

K. Hovnanian’s Four Seasons at Belle Terre

Lewes, Delaware

Located in Lewes, DE,. Four Seasons at Belle Terre is a 55 Plus active lifestyle community featuring low-maintenance single family homes. Residents will enjoy a 6,000 sq. ft. clubhouse with outdoor pool, as well as a state-of-the-art fitness center, billiards room, game room, lounge and aerobics room. Step outside to enjoy an extensive trail system, fire pit, outdoor kitchen, pickle ball and bocce courts.
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DE


Heritage Shores - Delaware Retirement Communities

Heritage Shores - Delaware Retirement Communities

Bridgeville, Delaware

The homes at Heritage Shores have been designed to maximize your lifestyle by incorporating the latest technologies and floorplans, providing ease of maintenance and energy efficiency.
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DE


Medley at Southshore Bay

Medley at Southshore Bay

Wimauma, Florida

Medley at Southshore Bay is designed especially for active adults who want the best life has to offer. The rich variety of amenities include a Metro lagoon by Crystal Lagoons, with 5.5 acres of crystal-clear blue waters, ideal for swimming and kayaking. Residents will enjoy private amenities including a social clubhouse, resort-style pool and tiki bar, a dog park, walking trails, golf-cart paths and more!
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FL


Champion Hills

Champion Hills

Hendersonville, North Carolina

At Champion HIlls you'll enjoy life in perfect balance. Our golf and tennis community and country club, situated in the mountains of Western North Carolina with breathtaking views of the surrounding Blue Ridge Mountains, is secluded, but not isolated-casual yet elegant-relaxed, but with easy access to the unlimited activities and entertainment of Asheville and Hendersonville.
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NC


Home Towne Square

Home Towne Square

Ephrata, Pennsylvania

The 55+ community of Home Towne Square, by Landmark Homes, is situated near Ephrata, PA, about an hour from Philadelphia, in the charming Pennsylvania Dutch Country. Landmark Homes designed Home Towne Square to reflect the culture and tradition of the Dutch Country, including an Arts & Crafts homestyle.
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PA


Village Green - Active 55+ Resort

Village Green - Active 55+ Resort

St. Petersburg, Florida

Welcome to Village Green, where you'll find luxury living at an affordable price. Village Green is an active 55+ adult community with a wide selection of pre-owned homes from the $30's, a multi-million dollar clubhouse, a full-time Activities Director, friendly people, and the finest in resort amenities. Whether you're looking for the best value in retirement, or simply a place to live life a little easier near the water, you'll find it a Village Green. Visit us and see why so many of our residents say it's like being on vacation all year long.
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FL


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