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September 25, 2011         Main Home

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Taxes and Retirement

Most people think that Florida is the most tax-friendly state for retirees, and while it is tax-friendly because it has no state income tax (and therefore no retirement income tax), real estate is assessed at 100% and there is a state sales tax.  Overall, other states beat Florida when it comes to being tax-friendly at retirement time. These include Oklahoma, Wyoming, Mississippi, Louisiana, Kentucky, Georgia, Alabama, South Carolina, Delaware and even Pennsylvania.  And on the other end of the scale, California, Oregon, Nebraska, Iowa, Minnesota, Wisconsin, Maine, New York, New Jersey and Connecticut are among the least friendly tax states when it comes to retirement.

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Melbourne Population:  78,000  |  Percentage Age 45 or Better:  42%   |  Cost of Living:  Below  U.S. Average   |   Crime Rate:  Above  U.S. Average  |  Current Temperature 

 

 

Alamanda Key

4290 Alamanda Key Dr., Melbourne, Florida  32901

(321) 984-2600

300 single family homes and town homes

Priced from high-$100,000s

Age Restriction:  55+

Web Site

Gated, two lakes, front porches, tropical landscaping

Florida Stats:

Population, year 2009 estimate - 18,537,969

Persons 65 years old and over, year 2009 - 17.2%

High school graduates, percent of persons age 25+, year 2000 - 79.9%

Bachelor's degree or higher, pct of persons age 25+, year 2000 - 22.3%

Persons of Hispanic or Latino origin, percent, year 2009 - 21.5%

White persons, not Hispanic, percent, year 2009 - 59.5%

Median household income, year 2008 - $47,802

Social Security taxed? No

Source: U.S. Census Bureau

 

 


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