3. Kansas
Residents with a Social Security number are exempt from Kansas income tax, especially those with a federal adjusted gross income of $75,000 or less. If you have a federal AGI of over $75,000, your social security benefits will be taxed by the state.
Don’t forget that the state sales tax on groceries will be reduced to 4% next year in 2023. Regarding property taxes, the median property tax rate is almost $1,411 per $100,000 of assessed home value.
In this state, there is no estate tax or inheritance tax.
4. Missouri
Despite the fact that the state of Missouri has pretty high taxes, retirees still choose this destination for their golden years.
If you are a married couple that has a gross income of less than $100,000, you won’t be taxed. If you are a single taxpayer with an AGI of less than $85,000 as well, you won’t be taxed. All the groceries are taxable at a 1.225% state rate and other additional taxes may apply.
According to state law, the top income tax rate in Missouri will be reduced by 0.7%. When it comes to property taxes in Missouri, the median property tax rate is $959 per $100,000 of assessed home value.
Missouri is among the states where your inheritance won’t be taxed.
