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Kiplinger: 10 Least Tax-Friendly States for Retirees

10 Least Tax-Friendly States for Retirees

Some states offer attractive tax benefits to woo retirees.

Then there are these ten states that are stingy with tax breaks for retirees. Some don't offer any breaks on Social Security benefits -- a significant source of most retirees' income. Many of these states also have no special tax treatment for other types of retirement income. Others impose higher-than-average taxes across the board. And many have either an estate tax or inheritance tax.

Property taxes were also a factor. High property taxes are the single biggest reason retirees living on a fixed income decide to move elsewhere, says Tom Wetzel, president of RetirementLiving.com. John Brady, editor of TopRetirements.com, agrees: "The most significant tax threat to most retirees is the property tax because it is based on the value of your home and bears no direct relation to your income."

(iStock)

More From Kiplinger:
The 5 Best U.S. Cities for Retirees
QUIZ: Are You Saving Enough For Retirement?
10 Most Tax-Friendly States for Retirees



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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