Where to retire cheaply in the US?

[nightlysparrow]

Originally Posted by Tac-Sea

I've eyed St. Petersburg/Tampa area of Florida, and Nevada, but am still looking.

Also to consider about FL: Florida tops nation in home insurance cost, doubles U.S average | www.actionnewsjax.com

[Prickly Pear]

Arizona is in the top three of most gun friendly state (with Alaska and Florida) has fairly cheap housing in most of the state, and has a low tax burden. I suggest looking here. Forested Arizona will be expensive, but high desert and low desert Arizona will be cheap.

[jakabedy]

Originally Posted by kehkou

New Mexico has no income tax . . .

Ummm, yes it does. And nobody escapes it. I mean, nobody who has a positive federal AGI escapes it. It also doesn't exempt certain government pensions like other states do. (i.e., in our move from AL to NM, we knew we would be taking a 4.9% hit on my husband's federal pension, which was exempt in Alabama).

_____________________________________

The Land of Enchantment uses a four-bracket, graduated rate table:

1.7 percent on the first $5,500 of taxable income.
3.2 percent on taxable income between $5,501 and $11,000.
4.7 percent on taxable income between $11,001 and $16,000.
4.9 percent on taxable income of $16,001 and above.
For married couples filing a joint return and heads of household, taxes are levied at:

1.7 percent on the first $8,000 of taxable income.
3.2 percent on taxable income between $8,001 and $16,000.
4.7 percent on taxable income between $16,001 and $24,000.
4.9 percent on taxable income of $24,001 and above.
New Mexico's personal income tax "piggybacks" on federal returns, using the federal adjusted gross income as its base. New Mexico used the same dollar amounts as the IRS for personal exemptions, standard deductions and itemized deductions.

[kehkou]

Originally Posted by jakabedy

Ummm, yes it does. And nobody escapes it. I mean, nobody who has a positive federal AGI escapes it. It also doesn't exempt certain government pensions like other states do. (i.e., in our move from AL to NM, we knew we would be taking a 4.9% hit on my husband's federal pension, which was exempt in Alabama).

_____________________________________

The Land of Enchantment uses a four-bracket, graduated rate table:

1.7 percent on the first $5,500 of taxable income.
3.2 percent on taxable income between $5,501 and $11,000.
4.7 percent on taxable income between $11,001 and $16,000.
4.9 percent on taxable income of $16,001 and above.
For married couples filing a joint return and heads of household, taxes are levied at:

1.7 percent on the first $8,000 of taxable income.
3.2 percent on taxable income between $8,001 and $16,000.
4.7 percent on taxable income between $16,001 and $24,000.
4.9 percent on taxable income of $24,001 and above.
New Mexico's personal income tax "piggybacks" on federal returns, using the federal adjusted gross income as its base. New Mexico used the same dollar amounts as the IRS for personal exemptions, standard deductions and itemized deductions.

Yikes I better start paying state tax then!