Kiplinger just announced its top 10 Tax-Friendly States for Retirees in 2011 and Georgia is #6 on the list!  Kiplinger discovered that in addition to our fabulous Southern location, the peach state has some wonderful tax advantages for seniors. In Georgia, Social Security income is exempt from taxes and so is up to $35,000 per person of most types of retirement income, including pensions, annuities, rental income, interest, dividends and capital gains for residents 62 and older.

As a huge bonus to those looking to retire in Georgia, taxes on all retirement income will be phased out completely in 2012. Any remaining income is taxed at rates ranging from 1% to 6%, with the top tax rate kicking in on income in excess of $7,000. The statewide sales tax is only 4%, but counties can add up to 4% of their own taxes. Food and prescription drugs are exempt from sales taxes.

It pays to buy Georgia real estate too! Homestead exemptions are available to full-time residents of Georgia, and residents age 65 and older may qualify for additional property tax deductions. There are a number of active adult communities to choose from offering maintenance free living if you are looking to retire in the state. From large, master planned communities such as Soleil Laurel Canyon, Windsong at Seven Hills and Cresswind at Lake Lanier to smaller intimate communities built by The Orchards Group or Jim Chapman Communities, you are sure to find a fit for your retirement style.

Click here to read the full-report on why Kiplinger picked Georgia.

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