What Does It Cost to Retire in These US States?
13. New Mexico
New Mexico's desert landscapes are a sight for sore eyes, but their tax laws might give you a headache. Social Security benefits, retirement income, and pensions are all subject to taxation with an exemption of up to $8,000 for some. The good news? Property taxes are on the lower end, and low-income seniors might be eligible for tax credits and deferral programs. With median home prices at around $201,000, you'll need about $47,184 annually in the Land of Enchantment.
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