John Burns data scientist Ian Kennedy highlighted the stark contrast in property tax rates across the U.S., revealing that states like New York, New Jersey, and Pennsylvania have the highest taxes (1.75% to 2% or higher), prompting retirees to move. Meanwhile, Western and Southern states report lower rates (less than 0.5%). Chris Porter from JBREC emphasized that migration patterns are increasingly influenced by younger generations who leave high-tax states, leading retirees to follow. This demographic shift marks a significant trend in American relocation patterns.
The recent trend of retirees migrating to other states is one of the largest such movements in U.S. history, predominantly driven by high property taxes in some areas.
Retirees frequently follow their adult children who leave high tax states, indicative of a significant demographic shift influenced by younger generations.
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