Best and Worst States for Taxes in 2024 - Ranking and Comparison

Looking to make a move in 2024 and considering the impact of state taxes on your finances? In this video, we dive into a comprehensive ranking and comparison of the best and worst states for taxes in 2024. Discover which states offer the most tax-friendly environments and which ones might leave you with a hefty bill. Stay informed and make the best decision for your financial future. Watch now to find out where your state stands!
These are the websites I cited in the video:
Information about state income tax rates from USA Facts website:
usafacts.org/a...
Information about state property tax rates from RocketMortage:
www.rocketmort...
Forbes article on Property tax with almost the same info:
www.forbes.com...
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Dawn Dickenson
Berkshire Hathaway Home Services - Arizona Properties
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📲 Call/Text Direct: 928-832-0555
📲 Schedule Your Zoom: livinginnorthernarizona.com

[@ramiroalvarez1227]

Hope CA doesn’t infect your state politics :) as they will hit the ballots..

[@laymansworld9858]

Kansas appears to be in the middle of everything, but don't forget the cost of vehicle tags every year. In Kansas, you might want to consider driving old cars or pickups because you will be shocked at how much it costs to renew a tag every year on a newer vehicle. I retired in 2020 and government has been in my pockets more than I have.

[@purplesprigs]

As someone house hunting, I don't care what the property tax rates are. I care about dollars. Idaho has "low" property taxes (0.67) but the average is $5,455. Meanwhile, Wisconsin has "high" property taxes (1.61) but the average homeowner pays only $2,497. When I look at similar sized homes, I want to know my annual tax bill. That's all.

[@livinginnorthernaz]

Good point, the tax rate will give you an idea on how to estimate taxes for a home you might be interested in. You might have a lower tax rate in a state like Arizona, but if the home price is high you can pay a higher dollar amount for a similar sized home compared to a state where home prices are lower but tax rate is higher.

[@kerrypritchett9901]

This is very informative!! Thanks Dawn!! 😊

[@elsaanndo7720]

Very helpful! Thank you

[@johng4093]

State income tax can still be important to retirees if they have traditional IRAs. Withdrawals in many states will be taxed as income. When reach early 70s you will be forced to start yearly withdrawals that can push you into very high tax brackets. BTW, you don't have to pay the state where you deferred the taxes, you pay state where you live when withdrawing, so if move to no/lower tax state you can save $.

[@infocyde2024]

I'm poor, but I will be renting in Flag soon. If things go well, and I feel stable enough to settle down, I plan on contacting you to help buy me a place in Flagstaff. It won't be a few a few years though. Thanks for your videos.

[@livinginnorthernaz]

You’re welcome ☺️