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US cities with the highest and lowest taxes for retirees

Choosing the ideal place where you could spend your golden years, you take into account many factors: cost of living, weather, proximity to people you love. With this choice, taxes also play an important role in the list of priorities. GOBankingRates I decided to help you and compiled a list of the most and least favorable US cities in terms of retirement taxes.

Фото: Depositphotos

To determine the most and least tax-friendly for retirees, GOBankingRates rated American cities for 5 factors: the estimated total amount of taxes withheld annually upon retirement, the effective state tax rate on pension, the amount paid in property taxes annually , estimated property tax rate and sales tax.

On the subject: Pension in the USA: how and on what do Russian emigrants live

Although many cities were listed due to the 0% tax rate, the absence of pension taxes does not necessarily make the city “tax free”.

For example, Austin (Texas), despite its 0% tax rate, has become one of the least tax-friendly cities. This is due to the high sales tax and annual real estate taxes, three times the average for the United States.

Regardless of whether you will retire in many years or it is just around the corner, it is important to know how taxes will affect your future. Explore the best and worst places to retire.

Cities with the lowest taxes for retirees

1. Louisville, KY

  • Annual retirement taxes: $ 0
  • Effective pension tax rate: 0%
  • Cost of home: $ 165
  • Annual property tax estimate for counties: $ 1489,50
  • Real estate tax rate: 0,90%
  • Sales Tax: 6,00%

2. Jacksonville, FL

  • Annual retirement taxes: $ 0
  • Effective pension tax rate: 0%
  • Cost of home: $ 180
  • Annual property tax estimate for counties: $ 1535,10
  • Real estate tax rate: 0,85%
  • Sales Tax: 7,00%

3. Las Vegas

  • Annual retirement taxes: $ 0
  • Effective pension tax rate: 0%
  • Cost of home: $ 274
  • Property Tax Annual Budget: $ 1975,68
  • Real estate tax rate: 0,72%
  • Sales Tax: 8,25%

4. Atlanta

  • Annual retirement taxes: $ 0
  • Effective pension tax rate: 0%
  • Cost of home: $ 264
  • Property Tax Annual Budget: $ 2089,55
  • Real estate tax rate: 0,79%
  • Sales Tax: 8,90%

5. Nashville, Tennessee

  • Annual retirement taxes: $ 0
  • Effective pension tax rate: 0%
  • Cost of home: $ 267
  • Property Tax Annual Budget: $ 2563,20
  • Real estate tax rate: 0,96%
  • Sales Tax: 9,25%

6. Memphis, Tennessee

  • Annual retirement taxes: $ 0
  • Effective pension tax rate: 0%
  • Cost of home: $ 89
  • Property Tax Annual Budget: $ 1229,58
  • Real estate tax rate: 1,38%
  • Sales Tax: 9,25%

7. Tampa, FL

  • Annual retirement taxes: $ 0
  • Effective pension tax rate: 0%
  • Cost of home: $ 224
  • Property Tax Annual Budget: $ 2451,41
  • Real estate tax rate: 1,09%
  • Sales Tax: 8,50%

8. Miami

  • Annual retirement taxes: $ 0
  • Effective pension tax rate: 0%
  • Cost of home: $ 337
  • Property Tax Annual Budget: $ 3446,58
  • Real estate tax rate: 1,02%
  • Sales Tax: 7,00%

9. New Orleans

  • Annual retirement taxes: $ 515
  • Effective pension tax rate: 0,99%
  • Cost of home: $ 179
  • Property Tax Annual Budget: $ 1096,17
  • Real estate tax rate: 0,61%
  • Sales Tax: 9,45%

10. Fresno, California

  • Annual retirement taxes: $ 715
  • Effective pension tax rate: 1,37%
  • Cost of home: $ 246
  • Property Tax Annual Budget: $ 1599
  • Real estate tax rate: 0,65%
  • Sales Tax: 7,98%

Фото: Depositphotos

On the subject: What kind of pension will I receive in America

Cities with high taxes for retirement

1. San Jose, California

  • Annual retirement taxes: $ 715
  • Effective pension tax rate: 1,37%
  • Cost of home: $ 989
  • Property Tax Annual Budget: $ 6626,30
  • Real estate tax rate: 0,67%
  • Sales Tax: 9,25%

2. San Francisco

  • Annual retirement taxes: $ 715
  • Effective pension tax rate: 1,37%
  • Cost of home: $ 1
  • Property Tax Annual Budget: $ 7437,65
  • Real estate tax rate: 0,55%
  • Sales Tax: 8,50%

3. Albuquerque, New Mexico

  • Annual retirement taxes: $ 1623
  • Effective pension tax rate: 3,12%
  • Cost of home: $ 205
  • Property Tax Annual Budget: $ 1660,50
  • Real estate tax rate: 0,81%
  • Sales Tax: 7,88%

4. Charlotte, North Carolina

  • Annual retirement taxes: $ 1426
  • Effective pension tax rate: 2,74%
  • Cost of home: $ 232
  • Property Tax Annual Budget: $ 2441,25
  • Real estate tax rate: 1,05%
  • Sales Tax: 7,25%

5. Austin TX

  • Annual retirement taxes: $ 0
  • Effective pension tax rate: 0%
  • Cost of home: $ 384
  • Property Tax Annual Budget: $ 7576,62
  • Real estate tax rate: 1,97%
  • Sales Tax: 8,25%

6. Boston

  • Annual retirement taxes: $ 1549
  • Effective pension tax rate: 2,98%
  • Cost of home: $ 596
  • Property Tax Annual Budget: $ 4654,26
  • Real estate tax rate: 0,78%
  • Sales Tax: 6,25%

7. Milwaukee

  • Annual retirement taxes: $ 1366
  • Effective pension tax rate: 2,55%
  • Cost of home: $ 124
  • Property Tax Annual Budget: $ 2779,84
  • Real estate tax rate: 2,24%
  • Sales Tax: 5,60%

8. Portland, Oregon

  • Annual retirement taxes: $ 2306
  • Effective pension tax rate: 4,43%
  • Cost of home: $ 420
  • Property Tax Annual Budget: $ 3573,40
  • Real estate tax rate: 0,85%
  • Sales Tax: 0%

9. Minneapolis

  • Annual retirement taxes: $ 2127
  • Effective pension tax rate: 4,09%
  • Cost of home: $ 268
  • Property Tax Annual Budget: $ 2707,81
  • Real estate tax rate: 1,01%
  • Sales Tax: 8,03%

10. Omaha, Nebraska

  • Annual retirement taxes: $ 1871
  • Effective pension tax rate: 3,60%
  • Cost of home: $ 179
  • Property Tax Annual Budget: $ 3526,30
  • Real estate tax rate: 1,97%
  • Sales Tax: 7,00%

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