i pay $800 property tax in Damascus. and that's town and county
This article rates TN #1 for the best retirement state.
http://www.bankrate.com/finance/reti....aspx#slide=11
If I could escape the tax and spend state of MD this is where I would go, eastern TN.
"Chainsaw" GA-ME 2011
Good timing on this thread, because I just read this, this morning. It's just one more thing to consider, since this is about states to retire in.
http://www.marketwatch.com/story/the...die-2014-03-04
Excerpt:
"With the current relatively generous federal estate tax exemption of $5.25 million for 2013 and $5.34 million for 2014, you surely don’t have any estate tax worries. Right? Not necessarily! It turns out that 19 states and the District of Columbia impose their own estate and/or inheritance taxes, and most of them have exemptions well below the federal amount. If you live in one of these places, your estate might be exempt from the federal estate tax but still exposed to a significant state death tax hit. Yikes! Here’s what you need to know.
14 states and D.C. have their own estate taxes"
You have to factor in a lot more than property taxes to make that call. Some states like Tennessee do not have a personal income tax. Your income source / stream, retirement savings, etc are going to be a large factor. The lowest tax states to retire to are Wyoming (the states makes a lot from leasing natural resources) and Nevada (gambling revenue).
http://www.kiplinger.com/tool/retire...s-on-retirees/
Pain is a by-product of a good time.
Well then, you don't want to move to NH, but on the other hand we have no sales or income tax (yet) Of course, it all depend on exactly where you live as the tax rate can vary significantly between towns.
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I'd say the next time you hike the AT just stop and count the teeth of the locals. Which ever state has the least number of teeth on average is the place your lookin for. Probably WV, TN, or GA.
P.S. I hear oatmeal in bulk is cheap, you'll save double!
* Warning: I bite AND I do not play well with others! -hellkat-
Originally Posted by fredmugs
PA doesn't look so bad now. I think I will evaluate each county on the property tax.
NC property taxes vary county by county. The far western counties are pretty low. However, NC will get you in other ways wrt taxes compared to most other southern states like Georgia or Florida.
I've lived in several states along the AT. TN is the best IMO. No income tax, for one. And property taxes are low as well, especially if you live in the county but not within city limits. I dont live in East TN along the AT, but my county taxes are low.
Georgia would be the cheapest AT state. If you're retired (as in not working) income tax isn't an issue. Georgia doesn't tax the first $35k-$65k of retirement income, depending on your age and that includes interest and dividends as well as social security.
Tennessee taxes interests and dividends over $2500 regardless of age and we have an ungodly sales tax of almost 10%.
North Carolina taxes all interest and dividends.
There are several nuances to the above but definitely Georgia is the most favorable state on the AT as far as stretching money in retirement.
I wouldn't look solely @ property taxes. Look at your total projected tax burden (property tax, income tax, sales tax rate, vehicle registrations fees, etc) based on your projected income & property value.
Use these figures for several places you are considering. Let that factor into your decision. I wouldn't make taxes the sole consideration for a retirement move.
Regardless, I hope you find someplace you like & fits your criteria.
I think you should consider VA..
And then they move into gated communities in NC so they don't have to be near the local riff-raff.
If you haven't done any western US hiking I strongly encourage you to give that a shot before deciding on the AT corridor. I know everyone's tastes are different but I really don't see how anyone would prefer the AT to anything the west has to offer.
You got that right.
Everything is in Walking Distance
NH has high local property taxes but it varies significantly between towns. NH also has a very generous current use exemption if you want to own some property over 10 acres.
Taxes are raised and spent locally so you need to pick a town with few kids and lots of summer places. Randolph NH is one of them although the house values can be high if you want the "VIEW", the trade off is zero services except what they can negotiate with the town next door. If your house is on fire, it will be a heap of ashes long before someone shows up and if your house is broken into the state police may stop by eventually. Its also a dry town with a gas station and that is about it. You also had better like winter hiking
NH property taxi is higher than VT becaus ethey have no income tax and no sales tax. They have a view tax!
Everything is in Walking Distance
Dude, the guy wants to move to a state ALONG the AT. Not WY or CO
Everything is in Walking Distance
VT ain't cheap but it is beautiful and civilizes and has a huge number of great brew pubs and beer ! So it's worth it.
Everything is in Walking Distance
I just briefly looked at a county-by-county map and it looks like the lowest property taxes are here in East TN. As mentioned before, there is also no income tax but high sales tax...AND we are even in the process of allowing people to buy wine in grocery stores!!!(big times here in TN)
Also just glanced at a spreadsheet about Total State and Local Tax Burden w/ data taken from 1977-2010. TN is ranked 3rd lowest overall tax burden with only South Dakota and Alaska having a lower burden.
http://taxfoundation.org/article/sta...year-1977-2010
With that said, I just really enjoy the East TN area...it's close to any trails in NC and VA(unless you're down close to Chattanooga) and has a good variety of trails.
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