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Kiplinger: Connecticut a Bad Place for Retirees

The financial magazine says Connecticut’s taxes aren't the best retirees.

 

With a high income tax and the second-highest property taxes in the nation, Kiplinger ranked Connecticut as the least tax-friendly state for retirees. 

According to the magazine:

Connecticut can be inhospitable to retirees, depending on their income level and where they earned their retirement benefits. Some residents of the Constitution State can exclude their Social Security benefits from state income taxes, but only if their adjusted gross income is less than $50,000 (less than $60,000 for married couples).

Fellow New England states Vermont and Rhode Island also made the list, as did nearby New York and New Jersey.

Although Connecticut’s 6.35 percent sales tax is among the highest in the nation, a recent report put Connecticut in the middle of the pack . Connecticut’s municipalities do not charge additional sales taxes.

Peter September 15, 2012 at 09:38 AM
No worries, the rich will continue to flee to Florida. Will the last retiree to leave Connecticut please turn off the lights?
Sherry Duffy September 17, 2012 at 02:23 PM
Only problem is that CT is one of the most stimulating states offering everything possible to keep an aging population engaged, active, and lively. Miles of walking, hiking and biking trails, arts and cultural opportunities one could never keep up with, plus beautiful beaches. Our close proximity to Boston and New York City offers lively opportunities. Our senior centers are outstanding offering every activity imaginable for free or at very reasonable cost. We have easily accessible public transportation, some specifically for seniors. There are endless organizations aimed at younger and older seniors. Volunteer opportunties are amazing and rewarding. We don't write our seniors off or devalue the contribution they have to make. While our state is expensive, there are many ways to pinch pennies and cut costs, possible assistance with heating bills, etc. I personally enjoy the challenge of stretching my dollars. Most of all, living in CT allows seniors to stay active and involved in a way many other states do not. That's worth a lot to me!
Peter ThePolish Kiryluk September 18, 2012 at 05:51 AM
CT has absolutely awful laws, new laws are formed because of Wfsb, a person gets killed, and a new law is born in CT, there is also absolutely nothing to do for old or young people, who cares about nature? You can only deal with West Nile so much, yeah what you didn't know? Or Lime ticks? Florida has way better laws for business and plenty of bathrooms to use when your driving, In the State of CT, you have to hunt for a Mobil, or you will have to rupture your kidneys. This state also has a fantasticly Delivery tax for electricity, a home running AC the whole year in Florida for heat and cold, costs about 70-100$ a year. If you tried to do the something in CT your looking at 70-100 Plus the Delivery Taxes which are Half of the bill making it 140 for 1 window AC not Central, too 200. There is also much less choice for Restoration, no night life, property tax on your car, thats right your car, the state of Florida costs you nothing for your car and registration is 37$ in FL, not 200$. You also have CT income tax which this year takes 150$ out of the 400$ check people in the low end get. DO you know how much income tax Florida takes? NONE just federal, and the minimum wage is similar as well, expect you get to keep more money. So what does CT do with all the money it gets? Fraud, friends get friends projects and its politics as usual. & PS the things to do list,for the rest area on 91 is 4, 4 things to go see or do.

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