Photo by Phillip Ingham
Is your state on this list?
When the time comes to choose a place to live there are many factors to consider. Some people look for a good school system; others may choose based on climate or the cost of living in a specific area. One factor that you may not have considered, but should, is the amount of state income tax for the area you are considering.
The amount of state income tax typically should be a deciding factor when selecting a place to live. While different counties may have differing personal property taxes and sales taxes in place, the state income tax is statewide. Lower tax rates in any spectrum help make it more affordable to live and if you can find a nice affordable balance then you have made a great location choice.
State income tax differs from state to state; some states even have no state income tax. When trying to decide upon a place to call home you may want to consider moving into states that have low state income tax rates as well as affordable sales tax and property taxes. Here are the top 10 states with the lowest state income tax rates according to Kiplinger, as well as some other tax information to help you make a decision.
|
