La. named among top 10 most tax-friendly states for retirees
Boasting "a bayou full of tax breaks to retirees," Louisiana once again has been included on Kiplinger's list of the top ten most tax-friendly states for retirees. Social Security, military, civil-service, and state and local government pensions are exempt from state income taxes in Louisiana, the magazine notes, as well as a maximum of $6,000 per person of annual retirement income. Homeowners who are 65 and older with adjusted gross incomes under $65,891 can also freeze the assessed value of their homes as long as they own and reside in them. Add to that low personal income and property tax rates, and the Louisiana heat maybe isn't so bad after all. Louisiana was also on Kiplinger's list of the top 10 tax-friendly states for retirees last year. Earlier this year, Forbes magazine listed Baton Rouge as one of America's "25 Best Places to Retire in 2013." See the complete Kiplinger report. —Staff report
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