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


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