How Oregon Taxes Retirees (Blog)

Oregon has NO sales tax! Let’s state that again, Oregon has NO SALES TAX! That’s huge my friends. Now, income tax is a whole different story though. But not having a sales tax is a big deal. Don’t minimize that.

While income tax rates are very high, 9% on Taxable Income over $17k for Married Filing Jointly, Oregon does not tax Social Security income.

Thus to reduce your taxable income, you really need to maximize your Social Security benefits. THere is a retirement pension exclusion but you really need to have little income to qualify. I’ve attached the link below. Look at page 101.

Property taxes are about the norm in the US and while there is a small homestead exemption, most won’t qualify.

Now Oregon does have an estate tax which is rather restrictive too. I’ll get into that on future videos.

So, all in all, moderate property tax, NO sales tax, and while a high income tax but one that can be addressed with proper planning, Oregon is actually quite favorable to retirees.

 

Video can be found here.

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