Mature Market Experts Stat of The Day: Why Retirees Move Out Of Maryland, The Land of Taxes

Think taxes matter to the mature market? Maryland’s government-based economy draws many migrants seeking employment. However, the State’s relatively high cost of living is a factor influencing retirees and near-retirees to migrate to states with lower living costs. Measured as the share of state and local taxes paid by individuals, Maryland has the highest share of any of the 50 states (i.e. the share of business taxes is the lowest). States that attract the majority of Maryland’s elderly migrants have tax policies that are more favorable to retirees than Maryland’s.

 

Source: The Dynamics of Elderly and Retiree Migration into and out of Maryland, Task Force Report

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: