States where the overall tax burden is low and there is no income tax unless noted…no estate tax…and no tax on Social Security benefits…
Alaska municipal sales taxes average less than 2%. The gas tax is the lowest in the country, and permanent residents receive an annual stipend, recently $1,600, from the state’s oil revenues. Property taxes can be significant—they average about $1,200 per $100,000 in assessed value—but the first $150,000 of assessed value is exempt for home owners age 65 and up.
Delaware income tax rates range from 2.2% to 6.6%. It has no sales taxes and very low property taxes—around $600 per $100,000 of assessed value, on average.
Florida property taxes average about $1,000 per $100,000 in assessed value. Sales taxes are 6% to 8.5%.
Nevada has low property taxes—averaging $700 per $100,000 in assessed value. Sales taxes are 6.85% to 8.27%.
Tennessee taxes dividends and interest, but that’s just 1% in 2020 and this tax will disappear in 2021. Property taxes average less than $750 per $100,000 of assessed value. Sales taxes are 7% to 9.75%.
Texas sales taxes are 6.25% to 8.25%. And property taxes are nearly $2,000 per $100,000 assessed value.
Wyoming sales taxes are just 4% to 6%. Property taxes average a little over $600 per $100,000.
