Birch Bay tops list for being tax-friendly to retirees

Birch Bay seniors may be pleased to know that their own backyard is rated as the most tax friendly retirement area in Washington state.

SmartAsset, a financial technology company that offers financial advice, analyzed tax data including sales, property, income, fuel and Social Security tax to get its results.

The study ranked the top 10 cities in Washington. Coming in second was Parkwood, followed by Barberton, Brier, Sudden Valley, Maplewood, Wollochet, East Port Orchard, Lake Stickney and Shoreline.

The study looked at how much a retiree would pay on $50,000 of annual income ($15,000 from Social Security, $15,000 from retirement savings, $10,000 from a private pension and $10,000 in wages).

In Birch Bay, taxes paid came out to be $6,295 in income tax, .8 percent in property tax, $994 in sales tax and $248 in fuel tax. Social Security, pension and retirement accounts aren’t taxed in Washington state.

For more information on the study, visit the SmartAsset website at bit.ly/3NsA5NX.