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Old 05-09-2009, 04:13 PM
 
Location: Forests of Maine
33,211 posts, read 54,481,999 times
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Maine is fertile ground for military retirees - Boston.com (http://www.boston.com/news/local/maine/articles/2009/05/08/maine_is_fertile_ground_for_military_retirees/?rss_id=Boston.com+--+Maine+news - broken link)

Maine is proving to be an attractive location for military retirees.

The rate in which military retirees are going to Maine is the highest in New England.

Military retiree families in Maine numbered 12,130, an increase of 148 over the previous reporting period.
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Old 05-09-2009, 05:12 PM
 
Location: Northern Maine
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Not just military. If you have a moderate to low income, Maine is a good place to live because you'll pay less in taxes.
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Old 05-09-2009, 06:09 PM
 
Location: Forests of Maine
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Quote:
Originally Posted by Northern Maine Land Man View Post
Not just military. If you have a moderate to low income, Maine is a good place to live because you'll pay less in taxes.
It seems that when I have said that in the past some folks have expressed disagreement.

However, yes I do prefer paying lower taxes.
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Old 05-09-2009, 06:39 PM
JC3
 
296 posts, read 769,359 times
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As a DAV and one who will eventually become a full time Maine resident, I was a little surprised that the towns and/or state does not have a better property tax exemption for veterans. But it is nice to hear veterans find Maine a good place to live.
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Old 05-09-2009, 06:53 PM
 
Location: Forests of Maine
33,211 posts, read 54,481,999 times
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Quote:
Originally Posted by JC3 View Post
As a DAV and one who will eventually become a full time Maine resident, I was a little surprised that the towns and/or state does not have a better property tax exemption for veterans. But it is nice to hear veterans find Maine a good place to live.
You pretty much have to be 100% disabled to get that, and then it is not much.

Fortunately we have found property taxes to be so much lower here than in previous states where we have lived that over-all it is a great deal better here.

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Old 05-09-2009, 10:38 PM
 
134 posts, read 485,822 times
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Forest.... thanks for article. I know here at Ramstein AB in Germany I was surprise to run across quite a few people that are retired military working as DOD contractors that have said they are planning on moving to Maine as well.... a few have already bought property and others are still in the dreaming phase still.

Maine does allow a 6,000 tax exemption on retired military pay so hey can't complain about that.
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Old 05-09-2009, 10:47 PM
 
Location: Third Coast
37 posts, read 93,085 times
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I'm trying to join you all...I've been waiting >40 days to find if I will be offered employment following my interview.

My spouse makes the trip to the m-box for the snail mail...the suspense is killing us
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Old 05-10-2009, 06:15 AM
JC3
 
296 posts, read 769,359 times
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Quote:
Originally Posted by ExAirForce View Post
Forest.... thanks for article. I know here at Ramstein AB in Germany I was surprise to run across quite a few people that are retired military working as DOD contractors that have said they are planning on moving to Maine as well.... a few have already bought property and others are still in the dreaming phase still.

Maine does allow a 6,000 tax exemption on retired military pay so hey can't complain about that.
In my opinion, for what it's worth, anyone who made a career of serving their country should get a decent tax break. Am glad Maine does this for retired military.

Now, does this mean, say you get 30K pension, before any other deductions are taken, they take off 6K? Meaning you then are only liable for 24K? If so, that is a good deal!

Forrest, you are correct. They subtract 6K from your assessed taxes, which really doesn't amount to very much. If you are 100% or 62 years old you are eligible, if I read it correctly.

I know states differ on the tax exemptions. In Nh each town may or may not give any and some differ on the amounts. For example, my town gives any veteran $300 right off the tax bill and the state allows another $700 for 100% disabled. So I get $1000 taken off my tax bill I pay, not the assessed amount. I know Mass has a pretty good benefit as well.

I haven't really done much homework on how taxes are done in Maine so it may be a wash anyway. Am glad to hear people are satisified about the taxes on income.
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Old 05-10-2009, 07:42 AM
 
Location: Forests of Maine
33,211 posts, read 54,481,999 times
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Quote:
Originally Posted by ExAirForce View Post
Forest.... thanks for article. I know here at Ramstein AB in Germany I was surprise to run across quite a few people that are retired military working as DOD contractors that have said they are planning on moving to Maine as well.... a few have already bought property and others are still in the dreaming phase still.

Maine does allow a 6,000 tax exemption on retired military pay so hey can't complain about that.
Yes, the exemption on your pension is nice, it would mean more if a pension was above the mimimun trip-wire for paying taxes though.

So long as your penion is not high enough to pay income taxes, I fail to see the point of having an exemption for it.
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Old 05-10-2009, 08:01 AM
 
Location: Forests of Maine
33,211 posts, read 54,481,999 times
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Quote:
Originally Posted by JC3 View Post
... Forrest, you are correct. They subtract 6K from your assessed taxes, which really doesn't amount to very much. If you are 100% or 62 years old you are eligible, if I read it correctly.
A property tax exemption means that amount is subtracted from the assessed value of your property. Before it is taxed.

A 'homestead' exemption does the same thing. It is applied before the assessed value is taxed.

If your really concerned about your property taxes then; move to an un-organized township. 52% of Maine is UT. Buy 'treegrowth' land and determine to live in a forest.

$1.05 per year per acre is not a bad mil rate. 100 acres and you could be paying $105/year in property taxes each year.
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