Louisiana Ranks High For Low Taxes And Retirees
We know Louisiana has it's issues. We've got our problems just like any other state in the union does. Still, we wouldn't live anywhere else. We love it here for the joie de vivre, but those that don't know about our secret might be looking for other reasons to come here. According to the financial website run by Kiplinger there are at least two great reasons to call Louisiana home.
Overall we give it a very favorable ranking just because it has low income tax rates and very low property taxes, third lowest in the country.
Senior Associate Editor for Kiplinger Sandra Block made those comments to the Louisiana Radio Network. She also mentioned that our state's gas tax is about .20 cents lower than most other states in the union. This makes driving in Louisiana a little less expensive, at least at the pump, than it does to operate a car in other states.
The state's low income taxes can be a good thing or a bad thing depending upon which side of the issue you're looking.
Certainly there are trade-offs and some people are more than happy to live in a high tax county or high tax state if they believe they are getting really good services.
The downside to lower taxes is decrease in social services. Those lower taxes might also mean that roadways and infrastructure are not maintained to the highest level either. There are also concerns about funding for education in a state with a low income tax.