If you are looking for a place to retire to that will give you the most “bang for your buck”, you should consider moving to Picayune, in Pearl River County, Mississippi! Registered as a Certified Retirement Community, Picayune offers some great features for retirees.
According to the Kiplinger Retiree Tax Guide to Mississippi, “It not only exempts Social Security benefits from state income taxes, but it also excludes all qualified retirement income — including distributions from IRAs, 401(k)s, 403bs, and qualified public, private and military pensions — from state income taxes. Remaining income is taxed at a maximum 5%. Mississippi is home to some of the cheapest property taxes in the nation. Residential property is taxed at 10% of its assessed value. Motor vehicles are taxed at 30% of their value. Homeowners 65 and older qualify for a homestead exemption on the first $75,000 of value. The state has a 7% sales tax, but prescription drugs, residential utilities and health-care services are exempt. County and city taxes may add an additional 3% to the state sales-tax rate. There is no inheritance tax.”
Combine that with the fact that Picayune is in the center of tourism opportunities, being central of a 50 mile radius of New Orleans, Hattiesburg, and the Mississippi Gulf Coast, and you have a great place to retire to, while being able to enjoy a warmer climate, and lots of entertainment opportunities.