5th Best: Nevada
The downside: Sales tax is on the higher end at an average combined state and local rate of 8.23%, but groceries and prescription drugs are exempt. Also disappointing: There are no property-tax breaks for seniors.
Why it’s still a good place to move: Seniors have a very good shot at stretching their retirement savings for quite a while as there’s no income tax, no estate tax, and no inheritance tax. Just make sure you stay away from Vegas!
There’s no state income tax on Social Security benefits and other types of retirement income, either, which makes living in Nevada even more affordable for retirees. Did we mention the low property taxes at a median of $533 per $100,000 in home value? Add this to the list of reasons to spend your golden year in the Silver State.
RELATED: Top 10 States with the Lowest Property Taxes
