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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1491  
Subject: Re: What is the best state to retire in? Date: 5/13/2004 5:04 PM
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From a tax perspective, I've heard that Pennsylvania is an attractive state for retirees since they don't tax income drawn from pensions and other retirement vehicles?

Depending on where you live, PA can be a bargain. A couple of years ago however, Kiplingers ranked them dead last out of the states based on all taxes. While state income taxes are currently low, (and rising,) and pensions acrued while a PA resident are not taxed, the property taxes can be huge. The Kiplingers report took info based on the state capitols, Harisonburg in this case which has high property taxes, but if you live in other areas the taxes are not so high. Most townships also have now or in the near future their own earned income tax to help pay for schools. Our township went from having 50% fo school costs paid by the state to an all time low of 14%...thus the need for more local taxes.

I just did a search for the article, but can't find it. I did find references to some retirement report Kiplingers is willing to sell you. How kind.

IP


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