Because many retirees are on a fixed income, property taxes can play an important part in the decision of where to live during retirement years.
The Tax Foundation has released its 2022 property tax index map of the United States. The index is evaluated by state and local taxes on real and personal property, net worth, and asset transfers.
Best and Worst States for Property Tax
According to their analysis, in 2022 the states with the best scores on property tax are Indiana, New Mexico, Idaho, Delaware, Nevada, and Ohio. States with the worst scores are Connecticut, Vermont, Illinois, New York, New Hampshire, Massachusetts, New Jersey, plus the District of Columbia.
How Are States Becoming More or Less Competitive?
The analysis also provides a table on how a state’s property tax structure has become more or less competitive in recent years.
For example, the property tax in Florida — a popular location for retirees — has not changed in its competitiveness since 2019. However, South Dakota has become more competitive in the last few years.
To view the table and other data from the Tax Foundation, go here.
