An annual ranking of the best states for retirees puts Delaware at the top of the list.
Neighboring Pennsylvania ranked No. 4. Ranking No. 2 and three were Florida and West Virginia.
The ranking, contained in a slide show from the online site of the personal finance magazine Kiplinger’s cited the state’s tax rate for retirees, which exempts Social Security income.
Lifestyle considerations also went into the ranking, with Kiplinger’s praising the amenities available in the coastal area of the state. Another ranking involved the age of the population.
States with younger populations tended to rank lower as a location for retirees. Click here for the worst states for retirees. Texas, for example, has low taxes and living costs in some areas. Still, the relative youth of its population contributed to a low retirement location from Kiplinger’s.
It was pointed out that housing prices are higher in the coastal areas. However, Kiplinger’s took note of the more affordable Milford area and pointed out its health care facilities.
Milford, which had suffered from a decline in manufacturing employment over the years, is now one of the fastest-growing areas of the state, with an increasing number of retirees moving into the areas.
Bayhealth, the operator of Milford Memorial Hospital, plans to build a $250 million health care campus from the ground up on the edge of the city, with the current hospital to be evaluated for future uses.
The issue of an aging population in the state led Gov. Jack Markell to propose a reduction in the property tax break for seniors, a move that was strongly opposed by legislators and constituents.
Republicans, a distinct minority in the General Assembly, have called for spending cuts to compensate for the loss of tax revenue in a state that heavily depends on a high personal income tax, corporate fees, gambling and unclaimed property as revenue sources.
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