Do Retired Texas move out of state due to high property taxes? (Fort Worth: insurance, broker)

[teatime]

Boston remains one of my favorite cities and I used to live in Southern NH. The winters are horribly long and brutal and the cost of property and property taxes are incredibly high. That's why I moved south and I've never regretted it. Now and then, I miss the lovely scenery and the very cheap lobster dinners but that's not enough to make it affordable or desirable to live there again, LOL! Great place to visit and vacation, though!

[eagle318]

I found an article on MSN Kiplinger discussing which states give retirees the best deal, and they stated that you need to look at the overall picture. I don't know the age of the article, but Dover, Delaware came in first with the best overall tax rate. Talahassee, FL and Austin, TX came in the middle which is interesting since both FL and TX have no state income taxes. Below is a link to the article:
Which states give retirees the best deal? - MSN Money (http://moneycentral.msn.com/content/RetirementandWills/P45875.asp - broken link)
Thanks to everyone who shared their knowledge on Texas taxes.

[Canine*Castle]

Originally Posted by momof2dfw

I've visited a ton of places around this country and the world that I deeply loved. Some you even dream of living there or even having a second home there. Doesn't mean it is "all that" as they ALL have their downfalls and no place is perfect. You might get there and think you found your nirvana and find you can't stand the place one bit. Happens all the time. One reason why my Texas born family moved back from Florida after 2 years after they retired there. Young retirees and came back saying, "everyone is old there and they just sit around".

That's cute, about old and sitting around. Even when I'm old - er, I'm not going to sit around. Therefore, Florida will not be my home.

I also agree that no place is perfect and when people move, who knows what it will really be like until they've lived there a while.

[Kerby W-R]

Originally Posted by eagle318

My husband and I are only a few months away from retirement thanks to
a very poor job market here in FL and him losing his job of 30 years due to a reorganization. I am researching other areas to live, and hopefully where
there are jobs available.
I am stunned by Texas' extremely high property taxes. A house costing
$500,000 at 3% taxes would cost $15,000. a year. I can't imagine coming up with that much money for taxes every year during retirement. Does Texas
give a substantial discount to those over 65? If not, do many Texans leave
the state during retirement for this reason? If so, to what state do they
choose to relocate?
We have no state income taxes in Florida, and yet our property taxes
are much more reasonable.
Thanks for your insider's information.

I am a native Texan who left and never have looked back. It's the best decision I've ever made. Who needs to throw away their money on enormous property taxes ? I work in California but live in Boise, Idaho.
Boise is great and taxes are reasonable. Boise is not
efffected by the recession as some other portions of the country.
Good luck on your retirement.
Moderator cut: link removed, linking to competitors sites is not allowed

[High_Plains_Retired]

Here's and interesting editorial in today's Lubbock Avalanche Journal about Texas property taxes and what the so-called House Select Committee on Property Tax Relief and Appraisal Reform is doing, or not doing. My first recommendation would be to force appraisal districts to base their tax appraisal values on the actual sale data of the property in question even when the property sells for less than the appraisal and not just when it sells for more. I would also recommend opening the books on home sale prices and get rid of the antiquated nondisclosure rules to make appraisals, both by the Appraisal District and by the homeowner, more transparent and obvious.

[catman]

The property taxes are high as a cat's back here, but there is no state income tax. If one is retired, it might not be a bad idea financially to move. I'd say it depends upon one's particular case.

High Plains Retired, I support your ideas wholeheartedly. I'm by nature a contrarian, but I cannot think of any good reasons to disagree. Thanks for the link.

[High_Plains_Retired]

Originally Posted by catman

The property taxes are high as a cat's back here, but there is no state income tax. If one is retired, it might not be a bad idea financially to move. I'd say it depends upon one's particular case.

High Plains Retired, I support your ideas wholeheartedly. I'm by nature a contrarian, but I cannot think of any good reasons to disagree. Thanks for the link.

I doubt I will live to see the Texas government accept transparency as an aspect of doing business, but owning family property in one of the tax-craziest counties in Texas is a bit frustrating. Incredibly Bailey County, Texas significantly raised appraisals and rates this year at the same time it was obvious to most that the economy was tanking. The leaders in this county are well known for their "folded-arm" arrogance when dealing with the public but having seen a 20.1% increase in my Bailey County property taxes since 2002 when the County is losing population, I'm inclined to believe they may also be incompetent.

BTW, one of the members of the Governor's House Select Committee on Property Tax Relief and Appraisal Reform is the former Mayor of the only town of any significant size in Bailey County. I haven't expected to see anything constructive come from this token committee and they have not disappointed me.

[catman]

Yeah, my house was appraised 20% higher this time around than last year. Of course, they appraised it before the big economic slowdown. It will be interesting to see what happens next time around. I'm sure that if the appraisals stagnate or go down, they'll simply raise the tax rates.

[High_Plains_Retired]

Ouch on 20% in one year! Just yesterday my neighbor and I were comparing tax notes here in Bailey County. We decided that County appraisals have little to do with the market value of the property and more to do with what the County wants at the market.

[catman]

Sad but true. One would think we are living in a booming ecomiy, going by the appraisals. I suppose at the appraisal office, it's always a booming economy. Whine, whine.