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Old 08-29-2017, 04:22 PM
 
3,995 posts, read 3,217,430 times
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Quote:
Originally Posted by jlawrence01 View Post
While Tennessee has a lower property tax rates, the property taxes in Davidson Co. and the counties surrounding Nashville are 2-2.5x higher than the counties in E. Tennessee. The houses that I looked at south of Nashville had tax bills that were about 75% of what I was paying for a similar house in the Chicago suburbs.

You talk about Illinois like it is a monolithic state. The property tax rates in Nashville are HIGHER than those in Central and Southern Illinois.

If I was looking for a low tax state as my sole criteria, I would pay lower taxes relocating to Kentucky than Tennessee. And it is very likely that I am paying lower taxes overall in Arizona than I would in Tennessee.
Really? You are trying to compare tax rates on corn fields in Illinois to Nashville, the largest city in Tennessee?

Too funny.
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Old 08-29-2017, 04:48 PM
 
15,182 posts, read 4,011,322 times
Reputation: 10965
Quote:
Originally Posted by marcandme View Post
Researching states for the best tax advantages for retirees, Florida is rated the best. Carolina is a mixed bag. Wondering if the advantages are big enough to make a difference or is it really marginal. I know everyone`s finical situation is different, but has anyone put numbers to it?
Unless you are REALLY strapped for money, the idea that 1 or 2K per year or even 3K is going to choose where you live is interesting.

I think people are wrong when they compare costs in a spreadsheet-like manner.

The most important things are often the intangibles - what type of restaurants are near, what are the locals like, how far from a major airport and other needs (shopping) are you??????

What is the exact weather...??

Maybe it's me but I have never played the "tax benefits" game. Sure, there is total COL to take into account, but in terms of saving a little, there are things much more important.

One might think "all things being equal" but they never are. As just one example, my parents lived in Hilton Head for a number of years. They liked it but as they aged their eyesight got worse and Hilton Head keeps the entire island quite dark (road not well lit). So they had to stop going out at night. Now they are in Florida and were able to drive for another 10 years.

Of course, the Medical Care in many developed areas of Florida can be much better (I said "can be" because one always had to be in the know).

(Note - full disclosure - we have one retirement place in Rhode Island and one in Sarasota, FL).....
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Old 08-29-2017, 05:54 PM
 
Location: Forests of Maine
30,680 posts, read 49,437,227 times
Reputation: 19129
Quote:
Originally Posted by craigiri View Post
Unless you are REALLY strapped for money, the idea that 1 or 2K per year or even 3K is going to choose where you live is interesting.

I think people are wrong when they compare costs in a spreadsheet-like manner.

The most important things are often the intangibles - what type of restaurants are near, what are the locals like, how far from a major airport and other needs (shopping) are you??????

What is the exact weather...??

Maybe it's me but I have never played the "tax benefits" game. Sure, there is total COL to take into account, but in terms of saving a little, there are things much more important.
There has to be some mixing of these two.

I do not care about the restaurants. But I do care about local culture. How common are hunting and fishing? The availability of forests to relax in, hiking and kayaking. I want to stay active as long as I can.

Many fellow retirees on this forum pay more in taxes than I earn in my pension. So I must pay close attention to the COL and taxes.

Here in the oldest state, I can afford to own a farm with over 100 acres of land. If I had moved to a younger state instead, I would likely be living in subsidized housing.

As it stands I can hunt and fish on my own land. I see eagle in the sky above every week.

The lifestyle intangibles are very important, as you have brought up. So is the affordability of living.
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Old 08-29-2017, 05:58 PM
 
Location: Eastern Washington
14,233 posts, read 44,895,263 times
Reputation: 12813
Quote:
Originally Posted by Q44 View Post
Maine was one of the 3 states we thought about because it's our vacation spot. But we were thinking along the coast like a lot of the recent retirees that have settled there. Down East magazine does the retiree issue I guess annually? They mentioned that the most popular house being sold in Maine right now is the 3BR, 2 bath home being bought by retirees, just the right size for 2 people but still big enough for the kids and grandkids to visit. See many homes like that being built in the Boothbay area


They mention that prices in Portland and Cape Elizabeth have gone up a lot and Zillow reflects that. We looked further up in the Mid-Coast area. We decided to stay in NY and continue to visit Maine, vacationing in and living in a place are 2 different lifestyles and mentalities.


And not that I went off topic, the other 2 places we looked at were NC and Florida. We've had several of our siblings and friends move to Cary and the NC Coast. The in-laws are in Florida. As visitors we like all 3 states, but none enough to leave NY. Bizarrely, with NY not taxing SS and certain pensions and retirement income we won't be getting hammered outside of the $8500 annual property tax bill. That's a price we can live with to avoid the heat and humidity and to stay close to the offspring and enjoy the lifestyle we're accustomed to.
Suit yourself. I would call an $8500 annual tax bill quite a hammering.
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Old 12-31-2017, 04:28 PM
 
8 posts, read 5,134 times
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Default .

I'm in NY too but my tax bill is $24,000.
Talk about a hammering !!
The new tax law allows me to only deduct $10,000
off my federal so.....
I'm getting hammered, stomped , kicked and bludgeoned
.... but I guess I should be happy I have my health,
or ..... is that what people say when they have no choice
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Old 12-31-2017, 04:45 PM
 
Location: Tampa, FL
27,798 posts, read 26,205,335 times
Reputation: 14611
Quote:
Originally Posted by Serious Conversation View Post
Also keep in mind that insurance in FL (home and auto) is also going to be significantly higher.
definitely a difference to take into consideration
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