Carson seen as retiree tax haven | NevadaAppeal.com

Carson seen as retiree tax haven

Nevada Appeal staff report

Carson City is among the top 10 Nevada communities listed by SmartAsset of New York as a tax friendly community in a tax friendly state for retirees.

The New York-based financial technology firm said Carson City, Nevada’s capital, was eighth in the state in rankings that mainly reflected income and property taxes for a retiree with $50,000 in annual income. Income tax for each Nevada community was pegged at $5,356 and so the rankings mostly reflected property taxes.

Silver Springs was first with property taxes of $812. Carson City came in at $1,336, behind not only Silver Springs, but Sun Valley, Spring Creek, Pahrump, Fallon, Elko and Winnemucca. No. 9 was Laughlin and the 10th position was held down by Boulder City, which had $1,420 in property taxes, according to SmartAsset.

Nevada was listed as one of the seven very friendly tax states and lack of a state income tax here was mentioned. The other six in the very friendly category were Alaska, Florida, Georgia, Mississippi, South Dakota and Wyoming.

8thWhere Carson City stands in the state according to rankings that mainly reflected income and property taxes for a retiree with $50,000 in annual income.

The hypothetical retiree’s annual income was based on $15,000 in Social Security, $15,000 in retirement savings, such as a 401(k) or IRA, $10,000 in regular pension and $10,000 in post-retirement wage income.

Nationally, the SmartAsset report’s annual income tax level was pegged at $6,223 and the property tax was listed as $2,107 for the hypothetical retiree.