How GEORGIA Taxes Retirees

Georgia taxes for retirees are among the lowest in the nation.  In fact, Georgia ranks in my top 8 for most friendliest towards retirees!    Georgia is even more tax-friendly than its neighbor to the north, Tennessee even though Tennessee has no income tax.  Weird right? And this is a perfect example of the need to look beyond just the states with no income tax as a place to retire that is tax-friendly. For example, in GA, if you are married and have income up to $130k, there is NO TAX! While it's sales tax is the 20th highest in the US, the state does not tax food.  Individual municipalities can though. so do your research on which county taxes food.  But, think about it, what is one largest consumption products? You got it, groceries.  So, in GA, you can get by with a minimal tax on groceries, if any at all.  Property taxes average just under 1%.  Which puts Georgia in the middle of all 50 states. But because the median house value is quite low, the actual dollar amount in property tax is low relative to a lot of other states in the US. It needs to be understood that each county can allow its own homestead exemption for property taxes on top of what the state allow.  I did not know this and neglected to file my own homestead exemption which cost me $3500. https://youtu.be/2V3kwpTh0cs Once your over 65 years old, you can claim a double exemption from  state property taxes as well if your income other than Social Security and pension income is less than $10k That could prove to be pretty significant. Think about it, in GA if you're over 65, you pay 0 income tax and 0 property tax, within certain thresholds of course   You only pay sales tax on non-food items.  Finally, you will pay  hefty fee to register your vehicle for the first time.  Trust me, it can easily go into the $1000s. But after that, your vehicle tax is well below $100 a yer. So, all in all, GA is quite favorable from a tax perspective. Nice climate, nice tax structure, it's a great place to live.  ================================= If you like what you see, a thumbs up helps A LOT. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: https://www.youtube.com/channel/UCSEzy4i9xrKPoaU9z0_XbmA?sub_confirmation=1 GET MY BOOK:   Strategic Money Planning: 8 Easy Ways To Put Your House In Order It's FREE if you're a Kindle Unlimited Subscriber! https://amzn.to/2wKGi50 GET ALL MY LATEST BLOGPOSTS: http://heritagewealthplanning.com/blog/ PODCAST: https://itunes.apple.com/us/podcast/josh-scandlen-podcast/id1368065459?mt=2 LET'S SOCIALIZE! Facebook: http://Facebook.com/heritagewealthplanning Linkedin: https://www.linkedin.com/in/joshscandlen/ Quora: https://www.quora.com/profile/Josh-Scandlen Google +: https://plus.google.com/u/1/108893802372783791910