Columbia, S.C. - According to Kiplinger's Personal Finance magazine, South Carolina has the fourth lowest "total retirement tax bite" in the nation. The magazine's ranking is based in part on retirees in South Carolina paying the sixth lowest income tax in the nation and the fourth lowest property tax. The "Today" show publicized these statistics in a report this morning.

"South Carolina offers a great deal for our seniors," Governor Hodges said. "Our taxes are low and our quality of life is high. Being recognized for having one of the lowest total retirement tax bites in the nation is good news for South Carolina."

Kiplinger's is not the first national publication to single out South Carolina for low taxes. According to the non-partisan State Policy Reports, South Carolina has the 7th lowest state and local taxes per capita in the nation. South Carolina also falls below the national average in per capita state and local property, income, and sales taxes.

"We've already been praised for keeping our taxes among the lowest in the country, and for offering innovative tax cuts like the annual August sales tax holiday. Thanks to these low taxes, the SilverCard prescription drug initiative, and, most importantly, our friendly people, South Carolina is becoming one of the best places in America for retirees," concluded Governor Hodges.

LINKS

Full Kiplinger's article:
www.kiplinger.com/magazine/archives/2002/July/managing/taxmap.html

"Today" Show link:
http://www.msnbc.com/news/780510.asp