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Old 03-24-2016, 03:25 PM
 
Location: Albuquerque NM
1,660 posts, read 1,525,919 times
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Quote:
Originally Posted by Submariner View Post
Those property taxes are high, much higher than my entire 'tax burden'. Our taxes, insurance, utilities, heat combined are less. It must be a lot more than simply the school expense.
Many of those paying high property taxes in Texas live in big subdivisions outside Dallas/Fort Worth, Houston, Austin, and other large metropolitan areas. These large master plan developments are usually in unincorporated areas and have to collect taxes to construct and maintain water, sewer, and drainage infrastructure. As the Municipal Utility Division (MUD) is responsible for the infrastructure, the taxes are called MUD taxes. Supposedly over time the tax will be reduced although that may not happen. And I'm not sure how the roads get funded. But everybody likes a nice new home and the homes will be less expensive and have better schools than the nearby city. One of my brothers lives in such a community and pays about $7K in taxes for a $225K home. My other brother lives in an older neighborhood in a small city and pays about $1500 a year in property taxes.
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Old 03-26-2016, 10:43 AM
 
147 posts, read 126,001 times
Reputation: 148
Quote:
Originally Posted by ABQ2015 View Post
Many of those paying high property taxes in Texas live in big subdivisions outside Dallas/Fort Worth, Houston, Austin, and other large metropolitan areas. These large master plan developments are usually in unincorporated areas and have to collect taxes to construct and maintain water, sewer, and drainage infrastructure. As the Municipal Utility Division (MUD) is responsible for the infrastructure, the taxes are called MUD taxes. Supposedly over time the tax will be reduced although that may not happen. And I'm not sure how the roads get funded. But everybody likes a nice new home and the homes will be less expensive and have better schools than the nearby city. One of my brothers lives in such a community and pays about $7K in taxes for a $225K home. My other brother lives in an older neighborhood in a small city and pays about $1500 a year in property taxes.

Wow, I had no idea Texas was so brutal on property taxes (depending on where you are apparently). That certainly offsets the zero state income tax perk. Ouch.
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Old 03-26-2016, 10:58 AM
 
Location: Haiku
4,093 posts, read 2,576,815 times
Reputation: 6039
Quote:
Originally Posted by Dean Trails View Post
I need exactly $2,083.33 a month in order to survive.
There is a survival budget and then there is a having-fun budget. We did not retire to sit home on the couch, we like to travel and do things. My wife takes lots of classes, paints. I surf. We go on bird watching trips. We go to other countries. We go to concerts and plays. All that costs way more than the survival budget. For us our survival budget is closer to $5k/month. Our discretionary budget is another $2k/month.
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Old 03-26-2016, 11:05 AM
 
Location: Forests of Maine
30,683 posts, read 49,455,573 times
Reputation: 19134
Quote:
Originally Posted by JJGittes65 View Post
Wow, I had no idea Texas was so brutal on property taxes (depending on where you are apparently). That certainly offsets the zero state income tax perk. Ouch.
I agree.

I am low-income. Many fellow retiree-posters here earn far more than I do on my pension. So I am very aware of these high COL areas for 'retirement'.

I am also heavy into gardening. For my retirement I needed to focus on regions that are not under 'water-stress' or cyclic drought conditions. I need to have ready access to water year-round every-year, to be growing things. Many areas that retirees flock to simply do not have this.
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Old 03-26-2016, 11:22 AM
 
Location: The Berk in Denver, CO USA
14,035 posts, read 20,355,620 times
Reputation: 22768
Default Preciseness is important

"How much $ per month do YOU need?"
Is the wrong question.
The correct question, in my case, is: how much does your wife need?
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