After our disappointment in losing out on only the 2nd property in Oregon that we have liked and could afford (in three years of looking), we have decided to investigate other possibilities.
Our starting point is Texas, where we live now. We have low costs for many things for various reasons ... lots of property, close proximity to a large port, few amenities on which to spend excessive amounts of money, and two successful industries: energy and medical.
Our starting point is Texas, where we live now. We have low costs for many things for various reasons ... lots of property, close proximity to a large port, few amenities on which to spend excessive amounts of money, and two successful industries: energy and medical.
As of this writing and 2012 comparison at Taxfoundation.org, TX has the 5th highest property tax, but no state income tax; tax burden of 7.6% placing it at 46th on the tax burden ranking.
The following are considered "retiree friendly":
PA - 15th highest tax burden, has high property taxes, but does not tax pensions or SS; tax burden of 10.2%. Too many people! We were just overwhelmed by volume.
WA - 28th highest tax burden, does not tax pension or SS; tax burden of 9.3%. I like Washington, it is the first state on the west coast I fell for.
NH - 44th highest tax burden, 3rd highest property tax, but no sales tax and only taxes interest and dividends; tax burden of 7.9%. Like PA, too many people. We are looking for an area that you can maneuver through most of the year with ease.
The following are considered "retiree friendly":
PA - 15th highest tax burden, has high property taxes, but does not tax pensions or SS; tax burden of 10.2%. Too many people! We were just overwhelmed by volume.
WA - 28th highest tax burden, does not tax pension or SS; tax burden of 9.3%. I like Washington, it is the first state on the west coast I fell for.
NH - 44th highest tax burden, 3rd highest property tax, but no sales tax and only taxes interest and dividends; tax burden of 7.9%. Like PA, too many people. We are looking for an area that you can maneuver through most of the year with ease.
Places I like
OR - 10th highest tax burden; one of the highest income taxes; SS exempt; tax burden of 10.3%.
VT - 11th highest tax burden; pensions taxed; SS taxed; 😢; tax burden of 10.3%.
ME - 13th highest tax burden; $6,000 pension deduction; tax burden of 10.2%.
ID - 26th highest tax burden; SS not taxed; exemptions kick in for some at 65; tax burden of 9.3%.
CO - 35th highest tax burden; $24,000 pension and SS deduction; really dry; tax burden of 8.9%.
In other words, I don't like the cheap places to live! Tax burden 50th to 40th: Alaska, South Dakota, Wyoming, Tennessee, Texas, Louisiana, New Hampshire, Nevada, South Carolina, Mississippi, and Oklahoma.
And Mr. SMT? He could live ANYWHERE. But seems to gravitate to Wyoming, South Dakota, and/or Montana. Hm, can't we find a happy medium between "overwhelmed with population" and "no population at all?"
OR - 10th highest tax burden; one of the highest income taxes; SS exempt; tax burden of 10.3%.
VT - 11th highest tax burden; pensions taxed; SS taxed; 😢; tax burden of 10.3%.
ME - 13th highest tax burden; $6,000 pension deduction; tax burden of 10.2%.
ID - 26th highest tax burden; SS not taxed; exemptions kick in for some at 65; tax burden of 9.3%.
CO - 35th highest tax burden; $24,000 pension and SS deduction; really dry; tax burden of 8.9%.
In other words, I don't like the cheap places to live! Tax burden 50th to 40th: Alaska, South Dakota, Wyoming, Tennessee, Texas, Louisiana, New Hampshire, Nevada, South Carolina, Mississippi, and Oklahoma.
And Mr. SMT? He could live ANYWHERE. But seems to gravitate to Wyoming, South Dakota, and/or Montana. Hm, can't we find a happy medium between "overwhelmed with population" and "no population at all?"
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