Posted on May 28, 2015
What are the tax implications for military pensions in your State? Please start post with State name
7.15K
14
19
3
3
0
Maine/New Jersey, I've lived in 2 States as a retiree. In New Jersey a military pension is 100% State Tax free, but you have the burden of high property tax (highest in the nation last I checked). In Maine you pay State Tax on the pension amount over the first $10K but at the age of 62 combat veterans get a 100% property tax exemption and prior to age 62 disabled vets get a property tax exemption.
How are military pension treated in your home State? What is your State sales tax rate? What would you estimate the property tax rate for a $100K home? Does your state have property tax on vehicles each year?
How are military pension treated in your home State? What is your State sales tax rate? What would you estimate the property tax rate for a $100K home? Does your state have property tax on vehicles each year?
Retired
Pension
Taxes
Edited 9 y ago
Posted 9 y ago
Responses: 12
0
0
0
0
0
0
Good article that covers this question...
States That Don’t Tax Military Retirement Pay | RapidTax
Military veterans should consider retiring to one of these states if they want to lighten their tax burden
(0)
(0)
MSgt Brian Welch
Got it, but I'd like to understand other taxes within the state that may nullify the tax free status of the military pension.
(0)
(0)
Read This Next
Continue with Facebook 
Continue with Google