If you are looking around for the best state to retire in, the good news is that there are a number of states that would really like you to choose them first. All such states know that the home retirees buy and the money they spend locally exemplifies an important and clean industry. And therefore, they have taken steps to make themselves attractive to retiring boomers.
States like North Carolina, Florida, Nevada, and Texas don’t have a problem attracting retirees. For instance, active adult communities in Florida possess a good reputation and several beautiful places to retire. However others, such as West Virginia and Mississippi, have a harder time bringing in more and more retirees without incentives. In this webcast, we will lay stress on the states that have taken considerable steps to increase the number of people retiring in those states.
States that provide the best bet of Attracting Retirees
This list comprises of the states that have no income tax, with one as an exception. Alaska is excluded as it is an expensive place to live and is really cold in winters. So let us walk through the states that have gone the extra mile in their efforts to attract retirees:
Active adult communities in Florida have no income tax or estate tax. As per the Amendment 10, save our Homes Act, is a top-notch program that protects homeowners from big property tax surge. The Sunshine State comes with a warm winter climate, extremely long coast line, and an endless list of towns where retirees can come across things to do and communities to welcome them.
It comes with no income tax or estate tax. When we talk about Las Vegas, there is a lot to do with hundreds of active adult communities. Winters in Nevada are warm and the landscape is just stunning.
- South Dakota
Again, South Dakota comes with no income tax or estate tax. Although winters are not so great here, but there are some nice places to live and many beautiful places to live.
Texas is one of the few states that comes with a Certified Retirement Community Program and aims to make towns in the state more attractive for the retirees.
This state has a Certified Retirement Community Program with no estate or inheritance taxes. Cost of living in the state is low and activities like, fishing, hunting and boating are quite prevalent.
- North Carolina
North Carolina also comes with a Certified Retirement Community Program with no estate or inheritance taxes. However, the out of state retirement income is usually taxed.
- West Virginia
It also has a Certified Retirement Community Program. Here, the social security is taxed and that is a potential negative. There is a lot to do in the outdoors of West Virginia and the real estate prices are quite attractive.
The state comes with no income tax, although there is an estate tax. Real estate prices in the western part of the State are very high, but retirees can still relish a fantastic in this varied state.
This Peach State does come with an income tax, but since it offers a generous $65000 per person exclusion for people over 65, not many retired folks would be required to pay the income tax. However, the winters are warm here.
So what do you think now? In your experience do the above mentioned states strike you as retirement friendly? Did you ever consider other states that we have considered? Well, all the above states provide a conducive environment for communities above 55. Let’s make the move now!