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Old 03-04-2010, 05:50 PM
 
Location: Exeter, NH
5,300 posts, read 4,400,288 times
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Quote:
Originally Posted by HappyTexan View Post
Texas has no state income tax. We are not doing to bad relative to other states that do have state income tax... We have high property taxes which kept our real estate prices low.
NH has no state income tax either (though it does tax interest and dividend income), and we too are comparable to those states that do have state income tax. But we have grossly high property taxes ($12,000/yr for a home costing the same as the one I had in Florida, which carried a $2,000/yr burden), yet real estate costs here are still very high.

I can only conclude it's not the high property taxes that are keeping your real estate values low.
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Old 03-05-2010, 01:45 PM
 
4,074 posts, read 6,416,683 times
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Here's a little food for thought: seniors, retirees are not tied to any area because of job demands and therefore free to go where they will. If the tax burden were to increase in the US moving to Mexico, Canada, Britain, France, Ireland, etc., would be the way to go. All these countries mentioned have free health care. Imagine that! As healthcare goes up for seniors that border is looking mighty good. Tack on added taxes and I am on my way.
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Old 03-05-2010, 04:33 PM
 
5,822 posts, read 13,312,141 times
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Quote:
Originally Posted by donsabi View Post
Here's a little food for thought: seniors, retirees are not tied to any area because of job demands and therefore free to go where they will. If the tax burden were to increase in the US moving to Mexico, Canada, Britain, France, Ireland, etc., would be the way to go. All these countries mentioned have free health care. Imagine that! As healthcare goes up for seniors that border is looking mighty good. Tack on added taxes and I am on my way.
Several friends are ex-pats of Britain because of the high tax rates (to support the Queen) and terrible socialized medicine. The grass always looks greener.


No matter what state you live in, they get you one way or the other (personal taxes, pension taxes, tax on military pay, high insurance rates for floods and hurricanes, etc.) So I would rather live in a state where I am content, not bored to death, near friends and family, instead of moving to a state to save a few dollars.
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Old 03-05-2010, 04:35 PM
 
Location: Near a river
16,042 posts, read 18,969,510 times
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Quote:
Originally Posted by forest beekeeper View Post
Newenglandgirl -

1- It is common for studies to look at the total combined taxes collected by a state from all of it's sources [property taxes, fuel taxes, school taxes, and income taxes]. Then to look at how much the IRS says that all residents earned gross. With these numbers you can say that the average resident earns X, and the average resident pays Y.

If a state has 1million residents the total State Revenue divided by 1million shows what the 'average' tax is.



2- I am retired on pension. My pension income is below the minimum income for paying income taxes. When you add the Standard Deduction for filing Married-Joint and the Exemptions for a couple, you have an amount which you would need to exceed, before you could begin to pay income taxes.

My Dw was recently promoted at her work. She was working p/t, her income added onto mine was not enough to pay income taxes.

However now she is working f/t, this increase in our income has just recently caused us to begin reviewing our tax-plan. As we may have some small amount of tax obligation next year.

Fortunately when I retired we moved to an area with really low taxes where we were able to buy land, build a house and still be able to really prosper on this level of income.

A very low cost of living area indeed.
Thanks for clarifying. Sometimes I wonder how the states are going to get the income they need from taxes, what with the boomers retiring en masse and all the unemployed people not paying in. Now we hear the postal service is going under and will be the next bailout! Of course this will add to the unemployment rolls and the states will be even more strapped. School budgets out of sight, and no end in sight. Maybe we all should relocate to some remote area where there are no schools and amenities, jsut form a community of our own in the hinterlands (sounds like a Margaret Atwood novel)
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Old 03-05-2010, 04:40 PM
 
Location: Near a river
16,042 posts, read 18,969,510 times
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Quote:
Originally Posted by donsabi View Post
Here's a little food for thought: seniors, retirees are not tied to any area because of job demands and therefore free to go where they will. If the tax burden were to increase in the US moving to Mexico, Canada, Britain, France, Ireland, etc., would be the way to go. All these countries mentioned have free health care. Imagine that! As healthcare goes up for seniors that border is looking mighty good. Tack on added taxes and I am on my way.
Can people on SSI move to any state they want?

I hear Mexico may be a fairly rough place to live, depending on where.

as for other countries...How does their system work for seniors? Do they provide assisted living and nursing homes at decent cost?

I still am thinking about the nursing home at sea....on a cruise ship. Daily cost way less than a nursing home, and burial at sea pretty cheap I would think...
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Old 03-05-2010, 06:18 PM
 
Location: Forests of Maine
30,677 posts, read 49,430,310 times
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Quote:
Originally Posted by donsabi View Post
Here's a little food for thought: seniors, retirees are not tied to any area because of job demands and therefore free to go where they will. If the tax burden were to increase in the US moving to Mexico, Canada, Britain, France, Ireland, etc., would be the way to go. All these countries mentioned have free health care. Imagine that! As healthcare goes up for seniors that border is looking mighty good. Tack on added taxes and I am on my way.
I lived in the UK for 3 years.

There taxes are insane, and their healthcare is horrible.

People move form the UK to the USA all the time, the only time that anyone moves to the UK is job transfers.

I am happy right here
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Old 03-05-2010, 06:35 PM
 
61 posts, read 182,388 times
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Free health care is not free. It is paid for one way or another.
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Old 03-09-2010, 05:36 PM
 
Location: Near a river
16,042 posts, read 18,969,510 times
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Quote:
Originally Posted by forest beekeeper View Post
I lived in the UK for 3 years.

There taxes are insane, and their healthcare is horrible.

People move form the UK to the USA all the time, the only time that anyone moves to the UK is job transfers.

I am happy right here
FBK,

On a real estate website I checked out some towns in your area --and for a very modest house they are as high in prop taxes as my area. Just wondering how you got such low taxes. One of my kids is actually thinking of moving to ME>
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Old 03-09-2010, 05:58 PM
 
4,984 posts, read 5,062,192 times
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The question is - who should pay ? Keep in mind that on the average private employment was shrinking 0.9%/year throughout 2000-2010, government employment was on the rise. If we'll shrink governments to Botswana levels just imagine all that unemployment. Makes you wonder about the nature of our money&economy, insanity. Give a man $50,000 years for doing nothing - socialism (communism actually, only investor class may enjoy), give a man a $50,000 government job (involving substantial expenditure of non renewable resources, traffic congestion and overall Dilbert like absurd) - hallelujah, man is working instead of being a leech on society. Yup, really make you wonder.

Personally, I don't pay state income tax, property tax, and I pick the states with the lowest sales tax to shop
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Old 03-09-2010, 07:11 PM
 
Location: Forests of Maine
30,677 posts, read 49,430,310 times
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Quote:
Originally Posted by newenglandgirl View Post
FBK,
On a real estate website I checked out some towns in your area --and for a very modest house they are as high in prop taxes as my area. Just wondering how you got such low taxes. One of my kids is actually thinking of moving to ME>
Most of Maine [52%] is 'Unorganized Townships'.

My town is one. In 1930 they realized that their property taxes were going to pay salaries for the town councilman, city clerk, dog catcher, building inspector, etc. The town folk got together and burned the town charter.

Maine's economy tanked about the time that household refrigeration became practical and the ice-block shipping industry folded. Maine's economy has never recovered. Families in Maine have been raising their children on minimum-wage jobs ever since the 1930s.

If your pension equals minimum-wage then when moving to Maine you are right about at the average as compared to households that are raising children here. As a retiree I came here, because I did not want to live in a place where my pension would put me below the average.

[Many regions of the US have experienced forms of tax-revolt since the 1930s. We once owned property in Washington State that had gone through such a tax revolt in the 1950s.]



Every county in Maine has a Mil Rate set by the state.

Then each township takes that Mil Rate and adds onto it whatever it takes to support the town budget. When your town charges you property taxes, both the town and the state gets a cut. The UTs only pay the state's portion.



When I was shopping for land, I observed that properties listed on the MLS by realtors tend to be priced from double to as high as five times higher than properties that are marketed FSBO. If you buy from a realtor, you are likely paying 200% to 500% more than what you could have paid for like property in the same town.



Town budgets vary a great deal.

The town to our East has a Mil Rate exactly double my Mil Rate. The town to our South has a Mil Rate three times higher than our Mil Rate. [0.08, 0.16 and 0.24 respectively]

Each Organized Town determines how many they want to have on salary and it's own budget. While the UTs refuse to allow any of that junk.

So you see two neighboring towns can have vastly different Mil Rates.

Also I live in a forest. I have 150 acres of forested land with 1/4 mile of riverfrontage.

In Maine: Farm Land, Forest Land [called Treegrowth], Open Space [wildgame refuge], and Working fishery wharf; are all classifications where the assessed value of the land is reduced by state law. Most states have similar setups this is not unique to Maine.

Being new to Maine and on pension I bought land that is assessed as 'Treegrowth' land, it's assessed value is set at about half of the purchase price.

If I lived in a city with municipal bus service, a few nice parks, lots of LEOs and swim coaches at the highschool, I would be paying for those services through my taxes. I do not, I live in a township that has seen a tax revolt and where they refuse to allow those socialist services.

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