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income tax = none (note there is a tax on dividend income and capital gains)
vehicle taxes vary by county, there is a $27 annual vehicle registration statewide and some counties add on a "wheel tax" that might be as much as the state tax. In our county, it's just the state tax of $27/car or motorcycle, vintage vehicles can pay a one time registration tax ($35) and never pay again. Boat registration is about $24/yr. Don't know what the RV registration might be, probably similar.
Sales tax varies by county but is general around 9% and very few things are exempt. Vehicle sales tax is lower (I think around 5-6%), but must be paid upon registration, even on the re-sale of a used vehicle to a private party.
It all depends on the county you are looking at. In the eastern part of the state, that sounds about right. However, the counties surrounding Nashville seem much higher.
OP: You may want to look at what's going on on the border before you commit to AZ. Its not a pretty sight and I don't think our govt. is interested in improving the situation. That's what changed my mind about TX. We're heading north and investing in longjohns.
It all depends on the county you are looking at. In the eastern part of the state, that sounds about right. However, the counties surrounding Nashville seem much higher.
True.
3,100 sq ft house in the Nashville Urban District (actual city has multiple rate districts) = $4,500/yr
It all depends on the county you are looking at. In the eastern part of the state, that sounds about right. However, the counties surrounding Nashville seem much higher.
So the message is be careful not to view local taxes, such as property taxes, as statewide. The property tax in Nashville is still cheaper than it was back in my home in rural northern CA. When researching retirement locales, it helps to drill all the way down to the local level before deciding EXACTLY where to retire. Being on one side or the other of a county line or urban services boundary could be an important factor if property taxes are a major factor in your decision.
So the message is be careful not to view local taxes, such as property taxes, as statewide. The property tax in Nashville is still cheaper than it was back in my home in rural northern CA. When researching retirement locales, it helps to drill all the way down to the local level before deciding EXACTLY where to retire. Being on one side or the other of a county line or urban services boundary could be an important factor if property taxes are a major factor in your decision.
That is an important truth. So many people write about the property taxes in __________ (fill in name of state) as being high, low, or moderate. But in most states property taxes are set, or at least partly set, by counties/cities.
There may be some exceptions which would allow one to generalize. New Hampshire comes to mind; as there are no sales taxes or income taxes there (except on dividends and interest), it stands to reason that property taxes will be high throughout the state.
As TheShadow said, "It helps to drill all the way down to the local level....."
I just returned home to north Texas from visiting my father in northern California. I was surprised after comparing both our cost. We are both retired and over 65, both our homes are valued approximately the same $350K. I purchased mine in 1983 and he in 1992, but this is where the similarity ends.
In California, he only pays $2050 for property tax I pay $5600 reduced from almost $7000 because I’m now over 65. My homeowners insurance has a 1% deductible for an insured value of $450K; he has a $500 deductible for on a $430K value and I pay more with zero claims.
His electric cost in the summer is $75 to $135 per month, mine is $175 to $400. My natural gas is $40 minimum, just because I pay for the line to the house, he pays $15 every two months. My water/sewer bill was $105 last month and I conserve.
He pays an average of $3.53 for a gallon of gasoline, I pay $3.19, and however, I could not fined one toll road in his area. I pay tolls going north or south, east and west average $6.00 per 2 gallons of fuel for 50 mile round trip. My cost $6.15 per gallon.
Could not find any difference in food or restaurant cost. He pays only a small amount of state and federal adjusted income tax, I pay 12% federal.
I also pay 8.25% sales tax in Texas; he pays the same.
For a retiree California seems to be better than Texas.
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Yes, the locality matters, tax-wise!
