Pro: Low Taxes
When you move to Alaska, you’ll immediately enjoy a financial boost in the form of lower taxes.
If you’re moving from a state with a higher personal income tax, you’ll see an immediate bump in your take-home pay in Alaska. Plus, since there’s no state sales tax and no sales tax within Anchorage, you’ll see fewer add-on costs at the register. Keep in mind, though, that some municipalities in Alaska do charge sales tax, including Bethel, Homer, Kodiak, and several others—another benefit to staying in Anchorage!
Plus, when you look at the overall tax burden for Alaskan residents, you’ll find it quite favorable. In fact when taking into account property tax, income tax, sales tax and excise tax, WalletHub ranks Alaska as #50—the state with the least overall tax burden. (Sometimes it’s good to be last!)
That said, you may find that you need to put those savings to work for you pretty quickly.