is maine tax friendly to retirees
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Maine Retirement Tax Friendliness Smartasset
Is Maine tax-friendly for retirees.
. Then below the map link to more content about state taxes on retirees including our picks for the 10 most tax-friendly and the 10 least tax-friendly states for retirees. State Tax Breaks Available for Military and Retirees. You may know that military allowances like Basic Allowance for Housing are tax-free.
Social Security is exempt from taxation in Maine but other forms of retirement income are not. The states property taxes are somewhat higher than the national average at a 130 effective rate. Seniors who receive retirement income from a 401k IRA or pension will pay tax rates as high as 715 though a small deduction is available.
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