Taxes (Albuquerque, Alamo: houses, utilities, live)

[ajzjmsmom]

Originally Posted by Tim Rankin

NM taxes overall are very low IMO. Even the property taxes may now stay low, if the legislation for "lightning tax" repeal goes through.

Also, people often think that if a state has no personal income tax it's a good deal. Far from it. Wyo has none, but is in the top 10 in terms of overall tax load. Texas may have no income tax, but you get slammed with the combination of property tax, property insurance and electricity rates.

New Mexico is a virtual tax haven compared to many other states.

To be really honest I haven't seen to much difference in electricity rates between where I lived in Texas and the 3 towns I have lived in NM.

[Vinegaroon]

Originally Posted by jazzlover

I think it means that Vinagaroon doesn't have anything against Texans, but he wouldn't let his daughter marry one.

And without Texans, who would we make fun of up on the mountain skiing? Well, I guess Okies, but to me they are one and the same thing.

[ajzjmsmom]

Originally Posted by Vinegaroon

And without Texans, who would we make fun of up on the mountain skiing? Well, I guess Okies, but to me they are one and the same thing.

Yeah but without those Texans up in the moutains skiing how would towns like Ruidoso and Cloudcroft prosper?

[nmnita]

Originally Posted by Mike Horrell

It certainly looses a big chunk but in our case we'll have to hit our late 70s before
we start to actually fall behind in total benefits paid. I'd rather rely on getting
into the system and "locked in" as well as 15-16 years of increased income while
we can take best advantage of it than worry about slowly falling behind on total
pay out.

The IRS site has charts and calculations to illustrate alternate pay-out curves.
Debbie retired 5 years early because we had reached a pension level that was
very good and that would only improve by a couple thousand dollars a year
if she stayed another 5 years. Instead, we moved to Central America, had
lots of adventures, made good friends and enjoyed a lifestyle that will not
exist much longer (CA is going down the tubes rapidly).

It's all about trade-offs and I think a surprising number of middle-income Americans
could actually benefit from collecting early SS. Certainly, not all, but a good number.

biggest problem with collecting early, which we did is being taxed if you decide to work part time and make over XXX dollars (this keeps changing) I got hit bad one year without realizing how much over I had gone. The other negative, hubby started collecting only a few months before his 65th BD but it affected my getting 1/2 of his..We lost about $200 a month just for a stupid few months.

Nita

[rybert]

Originally Posted by ajzjmsmom

Yeah but without those Texans up in the moutains skiing how would towns like Ruidoso and Cloudcroft prosper?

They wouldn't, but we'd be better for it!

[rruff]

Originally Posted by nmnita

moved to NM, had 1675 sq ft, 1/3 of an acre and a much nicer neighborhood. Of course the house was older: our taxes 810.00 a year.

Do property taxes generally run a little under 1% of initial purchase price, plus a max 3% per year increase after that? That was my understanding anyway.

[mortimer]

I bought a place in 2007 and, yes our property taxes are about
90% of 1% of the purchase price.

This year, our property tax valuation was exactly the same as
is was last year. Our rates went up by 27% from the rate that
the prior owner paid in 2006.

Our neighbors, who are likely paying less than the prior owners
here, are seeing the 3% rise this year.

[Tiger Beer]

I wonder how New Mexico taxes would compare with Nevada?

[weroses]

Don't Know We've got alot of taxes in Ky

[lisdol]

Originally Posted by ajzjmsmom

To be really honest I haven't seen to much difference in electricity rates between where I lived in Texas and the 3 towns I have lived in NM.

I pay 13.2 cents per kwh in NM. Curious what TX is if NM is so much better. I know GA Power charged a lot less. And that is directed at Tim Rankin, not you, sorry I quoted your post for that.