#5 State: Florida
No. Florida isn’t No.1 because it has no state income tax, no estate tax, no inheritance tax, and other things for people over 65. Seniors can get a property tax exemption of up to $50,000 from some city and county governments and/or an exemption equal to the assessed value of the property — if the property is worth $250,000, the homeowner has lived there for at least 25 years, and household income does not exceed $29,454.
Also, widowers can claim an additional $500 exemption. But the median property tax on the median home value of $166,800 is $1,702, and state sales taxes average 6.8 percent and can climb as high as 8 percent.
