Tax - Best Us Places?

[manthing]

Billings, Mont.
Montana has no state sales tax. But low taxes don't mean few amenities. Billings preserves remnants of prehistoric Native American culture at the Pictograph Cave historic site and features historic and contemporary art at the Yellowstone Art Center. The 120-mile drive from Billings to Yellowstone National Park offers views of glaciers, mountains and lakes.

Cheyenne, Wyo.
The city, famous for hosting the largest outdoor rodeo in the world, is cutting its budget to try to stave off tax increases. Wyoming is one of seven states without income tax.

Doral, Fla.
The Sunshine State is another income-tax-free zone. The Doral Golf Resort & Spa hosts a PGA tournament every year. And Doral is just 1 mile from the Miami airport and 12 miles from downtown Miami.

Henderson, Nev.
Las Vegas' less glittery cousin is only a short drive from the Strip, the Hoover Dam and Lake Mead. Retirees can also take in a show at the largest outdoor amphitheater in the state or check out the bird-viewing preserve. The Hyatt Regency is situated on Lake Las Vegas and boasts 25 acres of waterfront.

Juneau, Alaska
It pays to live in the largest state in the union. Alaska has no income or sales tax, and residents receive annual dividend payments from the Alaska Permanent Fund. Seniors in Juneau are exempt from the city's sales tax and also get large property-tax exemptions.

Manchester, N.H.
New Hampshire has no sales or income tax, and withdrawals from 401(k)s and IRAs are also tax-free at the state level. Instead, the state levies a 5% tax on interest and dividend income of more than $2,400 annually ($4,800 for couples). An additional $1,200 is tax-exempt for residents 65 and older.

Nashville
Senior citizens in the Music City less than a certain income level — $35,390 in 2007 — may be able to freeze the amount of property tax due on their primary residences. Tennessee also does not tax earned income, except for dividends and interest.

Sioux Falls, S.D.
Each second, the Big Sioux River pours 7,400 gallons of water down the 80-foot falls for which the city is named. Falls Park's 50-foot observation tower offers panoramic views of its 42 acres and beyond. Nearby Montrose is home to the Porter Sculpture Park, where visitors can marvel at a 60-foot statue of the extinct Egyptian longhorn.

Spokane, Wash.
Spokane's business-friendly tax structure keeps the economy humming along. After work at their second careers (free of state income tax), retirees can stroll along the river running through the center of town or hike in the nearby mountains.

Stafford, Texas
This suburb has no income or city property tax and boasts the lowest sales tax in the Houston area. Retirees can take in ballet, theater, concerts and seminars presented at the 90,000-square-foot Stafford Centre or traverse the 35 acres of green space throughout the city.


so where do you plan to retire?

[benjam138]

Most definitely not Doral, FL. I lived in Ft. Lauderdale (about 30 mins from Miami) for 5 years and would never ever consider moving back. The people are very rude, the cost of living is outrageous, and then you gotta deal with hurricanes. No thanks!

[lordsmurf]

Texas has moderately high sales tax (~8%), high property taxes (state, county, city), and no income tax.

Tennessee has high sales tax (9-10% -- one of the highest, maybe THE highest, of all 50 states), low property taxes, and no income tax. The cost of living here is much lower than what I had in Texas. It was a pleasant "bonus" to move here.

Even with a budget shortfall of about $1 billion, Tennessee is still (thankfully) against state income tax. In a "Bible belt" pro-McCain state, I often wonder how it is that we have so many programs for the poor. Too many, in my opinion, and I'm a moderate Democrat. I'm surrounded by hypocrites.

[debwalsh]

I'm surprised Delaware isn't even on the list - no sales tax, and the most corporate-friendly states in the union - many companies incorporate there for tax benefits.

I knew a lot of people who lived in New Hampshire and worked in Boston (and drop 1-2 or more hours a day to get to work). The tax advantages are good in New Hampshire, and I think generally so is the quality of life. But while people may qualify for the dividend payments in Alaska, a very large percentage of the population is subsistence level.

[SavageAmusement]

We have (indiana) no food tax, and 6.5 for everything else- and a cap for housing and rental taxes-

So its pretty good- i know we also have cheaper cigarettes, not that I smoke, and cheaper gas- (I think)
I filled up today at 1.64 a gallon- i don't know comparison rates thought

[konfusion]

1.64 what octane?

[SavageAmusement]

http://www.garygasprices.com/Hammond/index.aspx

87 octane-

today its 1.74 it always jumps on the weekend because we are so close to the expressway and illinois (literally 2 miles from illinois)

but its about 1.70 normally now-

[MagnificentMarcus]

Washington State may not have a income tax (which I really like!), but it does have a high sales tax 9% (not on food), high property taxes and one of the highest gas taxes in the nation. If our govenor has her way, our one advantage will disappear!

[lordsmurf]

Tennessee even taxes basic food stuffs.

[MagnificentMarcus]

Our legislators & gov, plan to start charging a fee on unhealthy foods. Of course we will probably see a tax increse on liquor too!

I'm paying $33.00 for my Knob Creek Bourbon! Geeez!

[lordsmurf]

I'm fine with taxing non-essential or prepared foods.

I see a need for taxes, so I'm not bothered by sales tax (you pay on what you spend only), but I preferred Texas not charging 9.25% to 10% on milk, basic meats, 100% juice, bread, etc. These Tennessee costs filter into restaurant prices too, where everything is at least 10-20% more than other states. But I guess if it lets property taxes stay low, and prevents income taxes, I won't grumble too loudly.

The costs of buying basic foods, or buying out, is sometimes an even cost trade. So I opt for more eating out, living in this state.

I have no idea what liquor taxes are like here, I should start reading more receipts (I buy and drink a lot of wine). I know fuel (something I buy) and cigarettes (something I don't buy) have really high taxes here. I don't know what hotel taxes are. I know that Texas is exorbitant, and I think Arkansas is high too (the state between, where I often crash for the night).

We all pay our taxes one way or another.

[manthing]

spare a thought for people in the scandinavian countries. some of these countries have very high taxes, maybe 50% or even 60%!

but it is hard to define highly (or lowly) taxed places because of all the variations involved. income tax, goods and services tax, local tax, tax on interest earned etc can vary hugely.

then there is the possibility of loss of benefits, which is a tax in a roundabout way.

i suppose its easier to work out if you saw how much you saved every month if you did exactly the same thing from place to place.

so if you had the same mortgage level in place A and place B, filled up the car, go out, buy the same groceries etc so that your lifestyle is the same, then notice what you have left in the bank in both places.

perhaps that will be a truer indicator of which place has the "better" tax rates.

for me, UK is quite highly taxed. but not overly so.
i will need to keep working till at least 60-ish.

then i will have see where my money stretches most.
london is very expensive, so if i'm in UK, i will have to look outside the city.
then again, UK weather is not that great, so i'll probably have to look towards south europe or asia somewhere.

i hear Beverly Hills has nice weather and is reasonable cheap!

[MagnificentMarcus]

MAnthing- I think you might what to question what you've been hearing regarding Beverly Hills!