7 States Where Retirees SHOULDN’T Buy a Home

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Retiree
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Kansas

Population: 2,937,150

Tax on retirement benefits: Yes

Cost of Living for Retirees: 12.70%

State income tax: 3.10% to 5.70%

Average property tax: 1.33% of market value

One good thing about those who hope to retire in the Sunflower State is that all Social Security income and in-state public pension income are exempt from state taxes for retirees earning an adjusted gross income of $75,000 or smaller.

Military and federal government pensions are also excused. Sadly, revenue from private retirement plans like 401(k)s and IRAs are fully taxed, as well as any income coming from out-of-state public pensions. This state also has the 8th highest average state and local sales tax.

This means that those weekly shopping trips for essentials can be pretty expensive. The state’s property taxes are costly, with the average tax on a $350,000 home being $4,655.

But, the state DOES offer property tax relief for low-income elders through a refund for up to 75% of property taxes paid.

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