Nation's #1 Tax Hell
Where To Retire magazine, Spring, 2002 edition, has an interesting article designed to helps its readers compare the various locales around the country as potential retirement spots. The magazine boasts a readership of half-a-million. The article compares the tax load: property, sales, income and other taxes a retiree would pay in each of 163 cities and towns in all 50 states. The article begins with these paragraphs:
In searching for a place to retire, one question can alert you to a difference of thousands of dollars in yearly costs among destinations. What's the total tax burden for this town? You may be looking at a tax heaven, or a tax hell.
Tax research by Where To Retire (Magazine) shows the dramatic economic impact that relocation can have. For instance, a move from Pittsburgh, Pa to Williamsburg, Virginia could cut taxes by nearly 70% for a retired couple with $50,000 in income and a home valued at $150,000. Their total annual tax burden could drop from $8,452 in Pittsburgh to $2,563 in Williamsburg, leaving $5,889 in spending money each year. (end quote from the article.)
The article has two charts, one with a list of Ten Tax Heavens (desirable places to live); and Ten Tax Hells (the least desirable places to live based on taxation.) Here are the two lists (with tax figures based on $50,000 retirement income--Social Security, pension, investments):
Editor's note: The tax burden in Pittsburgh is the greatest among 163 cities in 50 states, according to Where To Retire Magazine. The magazine also publishes a comprehensive guide on the overall tax burden in all o163 cities for nine different hypothetical couples with varying income levels and home values, so retirees can more closely gauge the impact of a relocation on their particular circumstances. To learn more about their comprehensive guide; and Where To Retire magazine, you may visit www.wheretoretire.com.
A major reason Pittsburgh is the #1 Tax Hell in America, according to this publication, is the real estate taxes. They make up a substantial portion of the tax burden. Pennsylvania has two of the five Tax Hells in the publication--Pittsburgh #1 and Philadelphia #5. Is it any wonder that Pennsylvania is not growing? Is it any wonder Pittsburgh continues to lose population?
- John Norvaisas says :
- Im John Norvaisas and im running for state rep against Paul Clymer.
My number one goal is to get rid of our current property tax system.Paul Clymer is the State Government Committee Chairman and he won't let House Bill 1947 out of committee.I need your help to get rid of him.In return i will fight every day to get rid of our states tax hell!
Thank you very much!
Candidate for the State house
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