Elite healthcare and a big pension exclusion at 65+. Watch out: county income taxes on top of state tax, and the only estate-plus-inheritance tax combo in America.
The short version
Social Security: not taxed at all.
Pensions: Generous pension exclusion at 65+ (about $41,700, indexed).
401(k) and IRA withdrawals: The pension exclusion covers many 401(k)/IRA withdrawals at 65+.
The setup: Brackets 2%–5.75%, plus county income tax of roughly 3%.
The average effective property tax rate is about 0.92% — roughly $2,760 a year ($230 a month) on a $300,000 home. Your county sets the real number.
Help for seniors: Homestead tax cap plus an income-based homeowners' tax credit.
Try your own home value in the Property Tax Estimator.
Overall cost of living runs about 15% above the U.S. average. The combined state and average local sales tax is 6.00%.
January days top out around 42°F and July days around 88°F, with roughly 213 sunny days a year. Watch out for: Nor'easters and occasional coastal hurricanes.
Johns Hopkins and top hospitals — among the best healthcare in the nation.
Maryland has an estate tax and an inheritance tax. Only state with both: estate tax above $5 million, plus a 10% inheritance tax on some heirs