10 Most Tax-Friendly States For Retired Taxpayers

7th Best: South Carolina

The downside: Like in the previous states, the sales taxes are not at all friendly. In South Carolina, however, the average combined state and local rate is 7.46%. Prescription drugs and groceries are still exempt.

Why it’s still a good place to move: There’s no state income tax on Social Security benefits, nor any estate or inheritance tax. There’s an exemption of up to $10,000 in retirement income, with a $3,000 for individuals under 65.

Single filers can also benefit from a $15,000 deduction from other taxable income, or a $30,000 deduction for joint filers. The cherry on top: below-average property taxes, with a median of $601 per $100,000 in assessed home value and the right to exempt the first $50,000 in property value for at least one year for former residents of the Palmetto State.

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