Ohio doesn’t tax Social Security benefits. And they provide a tax credit of up to $250 against your taxes if your adjusted gross income is below $100k. Remember a credit is a simple dollar for dollar reduction in taxes. So credits are a good thing.
Ohio’s sales tax puts them in the top 20 of the country. While not oppressive the sales cost is over 7%.
The property tax is among the highest in the nation. But given the value of homes in Ohio is lower than the national average the actual dollar amount Ohioans pay in property tax is lower than half of the US states.
By and large, Ohio falls smack dab in the middle of overall tax burden for retirees.
Watch the video here.