Nantucket /ˌnænˈtʌkɪt/ is an island about 30 miles (50 km) by ferry south from Cape Cod, in the U.S. state of Massachusetts. Together with the small islands of Tuckernuck and Muskeget, it constitutes the Town of Nantucket, and the conterminous Nantucket County, which are consolidated. As of the 2010 census, the population was 10,172. Part of the town is designated the Nantucket CDP, or census-designated place. The region of Surfside on Nantucket is the southernmost settlement in Massachusetts.
The name "Nantucket" is adapted from similar Algonquian names for the island, perhaps meaning "faraway land or island" or "sandy, sterile soil tempting no one".
Nantucket is a tourist destination and summer colony. Due to tourists and seasonal residents, the population of the island increases to at least 50,000 during the summer months. In 2008, Forbes magazine cited Nantucket as having home values among the highest in the United States. Home prices per square foot are considered much higher than those in the Hamptons on Long Island.
The National Park Service cites Nantucket, designated a National Historic Landmark District in 1966, as being the "finest surviving architectural and environmental example of a late 18th- and early 19th-century New England seaport town".
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How did Massachusetts earn the grade of C? We examined the state taxes based on how age friendly they are. Massachusetts has a state sales tax of 6.25%. Of particular interest is that Massachusetts does not have taxes on social security. There are estate taxes. There are no taxes imposed on inheritance. Massachusetts has an effective property tax rate of 1.21%. Weighing these taxes and other taxes most likely to impact the aging population is how Massachusetts earned its state tax grade of C.
Learn more about taxes in Massachusetts