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Old 01-17-2016, 06:36 PM
 
Location: Grove City, Ohio
10,133 posts, read 12,387,762 times
Reputation: 13976

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Quote:
Originally Posted by marino760 View Post
I'm happy to see the state I wish to eventually move to is in the bottom 10. Lower wealth, lower property taxes and property values mean I'll get a nicer home for the money and a significantly lower cost of living. Not all of us are retiring with millions in our 401K.
Politico is a left leaning magazine. Did you notice nearly all of the best states are "blue" and nearly all the bottom states are "red" politically? I'm willing to be that's no coincidence or accident.
Yeah, I hope people in New Hampshire earn a lot more money because they are going to need it.

New Hampshire comes in at #49 out of 51 in property taxes just behind New Jersey and Illinois with an average real estate tax of only $3,649!

You would think with an average of $304/month out of a social security check would really be an attraction to folks looking to retire on a fixed income!

2015’s States with the Highest and Lowest Property Taxes
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Old 01-17-2016, 06:39 PM
 
Location: Wasilla, AK
7,256 posts, read 4,143,320 times
Reputation: 15677
Quote:
Originally Posted by ansible90 View Post
The problem I have with tax burden rankings is they tend to be based on the highest income brackets. Example: doesn't help me to know the top tax rate of a state when my income puts me at the lowest or next-to-lowest rate.

BTW, the audience of Politico has nothing to do with the sources of information they pulled from. The sources were pretty nonpolitical.

The sources may be nonpolitical, I'm not questioning that. But the rankings were compiled with their readership in mind.
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Old 01-17-2016, 06:44 PM
 
Location: Wasilla, AK
7,256 posts, read 4,143,320 times
Reputation: 15677
Quote:
Originally Posted by Mircea View Post
Indeed.

You'd think for retirees, rankings would be based on

1] weather
2] access to Medicaid
3] access to Medicare
4] wait times for medical in general
5] doctors per thousand population
6] specialists per thousand population
7] access to hospitals and other medical
8] over-55 population
9] amenities for the over-55 population
10] transportation





Not always practical, but several short visits should suffice.

Taking Friday off on a long weekend to visit a place can help narrow down the possibilities rather quickly.

It never fails to amaze me how many people move sight unseen to a new place, then whine incessantly that it doesn't meet their expectations.

The only one on that list that was a consideration for us was #1. 2-10 were never part of the equation. 2-10 will be a factor for some, but not all retirees.
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Old 01-17-2016, 06:58 PM
eok
 
6,684 posts, read 3,171,794 times
Reputation: 8464
Quote:
Originally Posted by biscuitmom View Post
Laissez les bons temps rouler!
That shouldn't be in French. It's an English expression. It sounds better in English.
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Old 01-17-2016, 07:50 PM
 
Location: Los Angeles area
14,018 posts, read 17,740,386 times
Reputation: 32304
Quote:
Originally Posted by nicet4 View Post
Yeah, I hope people in New Hampshire earn a lot more money because they are going to need it.

New Hampshire comes in at #49 out of 51 in property taxes just behind New Jersey and Illinois with an average real estate tax of only $3,649!

You would think with an average of $304/month out of a social security check would really be an attraction to folks looking to retire on a fixed income!

2015’s States with the Highest and Lowest Property Taxes
Well, it's hardly surprising that property taxes are high in New Hampshire, being that they have no sales tax and no income tax except on interest and dividends!
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Old 01-17-2016, 10:37 PM
 
Location: Jamestown, NY
7,841 posts, read 7,329,858 times
Reputation: 13779
Quote:
Originally Posted by Escort Rider View Post
Well, it's hardly surprising that property taxes are high in New Hampshire, being that they have no sales tax and no income tax except on interest and dividends!
Which may be fine for working people, but isn't fine for retirees on a fixed income, especially when coupled with the high price of real estate in NH.

Generally speaking, unless you're a retiree with a large income from investments, you're better off picking a state with a state income tax and lower property taxes. Certainly a retiree living primarily off SS and small pension or withdrawals from savings would be much better off in states with income taxes since most states don't tax SS income at all. Other states exempt some/all pension income. Still others have much lower rates for lower income people. This means that many, perhaps most retirees in those states won't pay much, if anything, in state income taxes.
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Old 01-17-2016, 11:18 PM
 
Location: VT; previously MD & NJ
2,202 posts, read 1,346,551 times
Reputation: 6336
Quote:
Originally Posted by Linda_d View Post
Which may be fine for working people, but isn't fine for retirees on a fixed income, especially when coupled with the high price of real estate in NH.

Generally speaking, unless you're a retiree with a large income from investments, you're better off picking a state with a state income tax and lower property taxes. Certainly a retiree living primarily off SS and small pension or withdrawals from savings would be much better off in states with income taxes since most states don't tax SS income at all. Other states exempt some/all pension income. Still others have much lower rates for lower income people. This means that many, perhaps most retirees in those states won't pay much, if anything, in state income taxes.
It always amazes me that so many people of modest incomes don't understand this.
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Old 01-18-2016, 04:22 AM
 
Location: Washington State
18,536 posts, read 9,580,194 times
Reputation: 15784
Quote:
Originally Posted by GeoffD View Post
You can change the criteria used for the ranking and make the order pretty much anything you want.

The criteria used in this particular ranking doesn't particularly apply to retirees. Most retirees have a totally different set of criteria.

I own property in #1 New Hampshire, #3 Vermont, and #6 Massachusetts. I know lots of affluent retirees in all three places. None of them are places you'd consider retiring without having high net worth or a pretty good income stream. The cost of living is simply too high.
I agree that retirees have a different set of criteria due to no kids in school (well for most) & no need to generate income. Also agree that you can alter the ranking if you change the criteria....for me, the top states have no attraction.
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Old 01-18-2016, 06:30 AM
 
13,912 posts, read 7,405,593 times
Reputation: 25408
Quote:
Originally Posted by Escort Rider View Post
Well, it's hardly surprising that property taxes are high in New Hampshire, being that they have no sales tax and no income tax except on interest and dividends!
I need to correct some information. The property tax rate is set locally in New Hampshire. It varies wildly depending on the tax base funding the school system. Towns with lots of expensive vacation homes, a large amount of commercial area, or that are remote and have few children in the school system have very low property tax rates. If you pick New Castle (oceanfront vacation homes), Moultonboro (lakefront vacation homes), or any of the ski resort towns, tax rates are well below 1% of assessed value. On the flip side, there are relatively poor towns with low property prices and little industry with lots of children in the school system that have a New Jersey-like 3+% property tax rate.

...so you can pick a town in New Hampshire with a low tax rate, buy land that isn't wanted by the vacation home owners, build your retirement house, and not get eaten alive with property taxes.

Here's a link to the New Hampshire municipal property tax rates broken out by town:
http://revenue.nh.gov/mun-prop/munic...-tax-rates.pdf

Towns below 1%: Bartlett (Attitash ski resort), Bridgewater & Hebron (Newfound Lake), Moultonboro (lake Winnipesaukee), New Castle (oceanfront), Newington (malls, airport, and office parks). There are also a bunch of remote extreme northern New Hampshire towns with even lower property tax rates because nobody lives there.
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Old 01-18-2016, 07:46 AM
 
Location: Whereever we have our RV parked
8,787 posts, read 7,707,284 times
Reputation: 15080
Escort sums it up pretty good. I can't figure out why anyone would want to use these rankings as a basis for retirement, unless you want to retire in a place that has a lot less of "those kinds of people". Besides, the weather in those high ranking states, like MN stinks most of the year. Who wants to spend retirement waiting for the weather to warm up and stop raining or snowing.
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