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Old 10-30-2017, 05:01 PM
 
1,137 posts, read 569,034 times
Reputation: 4370

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Quote:
Originally Posted by ohio_peasant View Post
Though perhaps phrased in a manner that might prompt criticism, the above is an important point.

$500/acre? I have difficulty imagining how this is possible in the wastelands of Libya or Mongolia, let alone somewhere in the United States.
I find all the criticism disheartening. It is possible. Here is what wife and I have built so far for $85K...includes 10 acres of land, well, septic, and barn...

Living in a Pole Barn

You just have to be creative, and not be afraid of snow.

Edit; Oops, the land was more than I originally posted, but the $85k total cost including land was accurate. Bottom line is that low cost is possible in some areas.

Last edited by MichiganGreg; 10-30-2017 at 06:20 PM.. Reason: wrong pricing.
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Old 10-30-2017, 05:21 PM
 
Location: Where the sun likes to shine!!
20,517 posts, read 26,363,899 times
Reputation: 88539
Quote:
Originally Posted by rod5591 View Post
My wife and I are planning to retire, on a budget, and we are looking for the state with:

1) No state income Tax
2) Lowest Sales Tax
3) Lowest Property Tax

Or the best combination of the three.

We plan to buy a few acres and raise chickens, maybe a goat or two, and have have a garden and try to live a quiet life, minding our own business. We would love to find a house/manufactured home in good condition and 3 acres for not more than $75K. My wife would like to locate near but not in a small city maybe 25K in population with a full service hospital. I am a veteran and would like to be withen 40 miles or so of a VA medical center or clinic.

We don't have strong preferences about weather except we do not want humid hot summers such as Florida or the Gulf Coast states.

The weather here is California where we live is great, but its way too expensive here and taxes keep going up, plus the state is going the wrong direction culture-wise, with all the liberals and the crooked politicians. We would live Oregon and/or Washington, but prices are high in those areas and the liberals are ruining those states as well.

Some states we have looked at are Arkansas and Tennessee, Wyoming, Utah.

Can anyone suggest any good low cost states to retire?

Also where can I get the information about sales tax rates, property tax rates, etc?

Thank you for any help and/or advice.

Try Northeast(closer to the mountains) TN for no state income tax, cooler summers, and low property taxes. Hop the state line into VA for low sales tax. VA hospitals are in Johnson City TN, Knoxville TN and also Bristol VA.

https://www.zillow.com/homes/for_sal..._zm/2_p/0_mmm/
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Old 10-30-2017, 05:23 PM
 
Location: Forests of Maine
30,670 posts, read 49,416,421 times
Reputation: 19124
Quote:
Originally Posted by MichiganGreg View Post
I find all the criticism disheartening. It is possible. Here is what wife and I have built so far for $85K...includes 10 acres of land @$500/acre, well, septic, and barn...

Living in a Pole Barn

You just have to be creative, and not be afraid of snow.
Northern tier states have a lot to offer. But in our modern society many people are seriously afraid of Four Seasons weather. Which works out just fine for those of us who like it. The crowds tend to stay away.

I live in the state with the highest percentage of retirees, so clearly someone likes it other than myself.

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Old 10-30-2017, 06:02 PM
 
Location: Cochise county, AZ
4,960 posts, read 3,451,255 times
Reputation: 10475
Maine was really high on my list until I fell last winter while I was in Minnesota. I fell twice & both were pretty traumatic. It's a beautiful state & I wish I didn't have the disability I do now so I could have lived there.

I do plan on visiting at some point though.
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Old 10-30-2017, 06:45 PM
 
6,306 posts, read 5,042,575 times
Reputation: 12805
Quote:
Originally Posted by MichiganGreg View Post
I find all the criticism disheartening. It is possible. Here is what wife and I have built so far for $85K...includes 10 acres of land, well, septic, and barn...

Living in a Pole Barn

You just have to be creative, and not be afraid of snow.

Edit; Oops, the land was more than I originally posted, but the $85k total cost including land was accurate. Bottom line is that low cost is possible in some areas.
That is awesome. We call those barndominiums around here in south texas. I would love one!
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Old 10-30-2017, 07:02 PM
 
Location: Raleigh
8,046 posts, read 5,884,308 times
Reputation: 9785
Default Not exactly "no income tax" State

Quote:
Originally Posted by ylisa7 View Post
Try Northeast(closer to the mountains) TN for no state income tax<>
Not exactly . . .Most retirees with income from savings appear to need to be concerned about taxes:
"A special 6% income tax called the Hall income tax applies only
to taxable interest and dividend income over $1,250 for individuals and
$2,500 for married couples filing jointly. Taxpayers over 65 with total income
less than $16,200 for a single filer or $27,000 for a couple filing jointly are exempt from this tax.
The Hall income tax, named after the state senator who sponsored it,
has been around since 1929 and hasn't been raised since 1937.
Only dividend or interest income from investments like stocks, mutual funds,
and corporate dividends is subject to this tax.
Interest from bank or credit union accounts,
the type of interest earned by most Tennessee residents,
is exempt from the Hall income tax."

I am not a tax accountant but you may need one.
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Old 10-30-2017, 07:10 PM
 
Location: Forests of Maine
30,670 posts, read 49,416,421 times
Reputation: 19124
Quote:
Originally Posted by Clemencia53 View Post
That is awesome. We call those barndominiums around here in south texas. I would love one!
We live in a barndominium.
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Old 10-30-2017, 07:15 PM
 
6,306 posts, read 5,042,575 times
Reputation: 12805
Quote:
Originally Posted by Submariner View Post
We live in a barndominium.
I live in a 1930s arts and crafts type house, but a barndominium sounds so nice.
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Old 10-30-2017, 07:27 PM
 
Location: Loudon, TN
5,768 posts, read 4,822,990 times
Reputation: 19387
Quote:
Originally Posted by Crashj007 View Post
Not exactly . . .Most retirees with income from savings appear to need to be concerned about taxes:
"A special 6% income tax called the Hall income tax applies only
to taxable interest and dividend income over $1,250 for individuals and
$2,500 for married couples filing jointly. Taxpayers over 65 with total income
less than $16,200 for a single filer or $27,000 for a couple filing jointly are exempt from this tax.
The Hall income tax, named after the state senator who sponsored it,
has been around since 1929 and hasn't been raised since 1937.
Only dividend or interest income from investments like stocks, mutual funds,
and corporate dividends is subject to this tax.
Interest from bank or credit union accounts,
the type of interest earned by most Tennessee residents,
is exempt from the Hall income tax."

I am not a tax accountant but you may need one.
The Hall tax on dividend and interest income in Tennessee is being phased out 1% per year. The tax for 2016, which will be due in April 2017, will be 5%, and then 4% the next year, and so on until it is eliminated in 2022.

Here's an article regarding these reductions signed into law.

Gov. Bill Haslam signs Hall income tax cut, repeal into law
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Old 10-30-2017, 08:02 PM
 
Location: Forests of Maine
30,670 posts, read 49,416,421 times
Reputation: 19124
Quote:
Originally Posted by Clemencia53 View Post
I live in a 1930s arts and crafts type house, but a barndominium sounds so nice.
I bought it from Northern Steel online. They were marketing it basically as an airplane hanger. 40' by 60' with 12' eaves and 14' peak. No interior walls. It was very easy for one person to assemble. We have 13 large 6' wide windows alternating with a dozen small sash windows, along three sides, to give us a wide peripheral view outside [we are surrounded by forest canopy].

Our floor has radiant heat in it. That heat comes from a wood stove, which heats water that circulates to a thermal-bank downstairs, which then circulates through the radiant floor. It is very efficient.

We heat with wood and we are on solar power. We are installing an active Solar-Thermal system right now, we hope to be mostly using solar heat this winter.

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