News

Maine ranks 6th on list of bad places to retire

on

maineretire

Maine is the 6th worst place to retire, according to a study produced by Bankrate.com that considered a host of variables.

“The Pine Tree State can boast excellent access to medical care and a relatively mild crime rate,” the study says. “Yet it ranks No. 6 on Bankrate’s list of bad places to retire for a few reasons.”

In addition to Maine’s frigid temperature, the study states, “Both the cost of living and state and local taxes are among the highest in the country.”

The study comes as lawmakers on the Taxation Committee are slated to debate the so-called Gang of Eleven’s proposal to increase and expand Maine’s sales tax while slashing income taxes. (Recommended: Gang of Eleven tax plan changing on eve of public hearing…)

Retirees, who typical do not earn regular income and will not benefit from an income tax reduction, will be hardest hit if the Legislature agrees to raise the sales tax to 6 percent and apply it to residential water, electricity, firewood, and other goods and services.

The number one worst place to retire? Oregon.

S.E. Robinson
Maine Wire Reporter
srobinson@mainepolicy.org

About Steve Robinson

Steve Robinson was the editor of The Maine Wire from 2013 through 2014. A native of Dexter, Maine, Robinson is a graduate of Bowdoin College, and is currently a Producer for The Howie Carr Show in Boston.

Recommended for you

Discuss this story