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Eugene wrote:http://www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/index.php
Jim Becker wrote:Eugene wrote:http://www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/index.php
This site is interesting but there is so much more to the whole picture that it is borderline misleading. Here in Texas, the state sales tax is 6.25% but almost every local jurisdiction around here has local optioned it up to or close to the 8.25% limit. And it applies to ALMOST EVERYTHING. Another thing left unsaid is that Texas, in pursuit of the holy grail of low taxes, has been adding "user fees" to everything. Virtually all major highway projects are now toll roads. So we not only pay for each road, we also pay for a huge automated toll collection system on each road. We even have one where the toll amount is adjusted as traffic changes. Half the time, when I meet some buddies for lunch I pay more in tolls than I spend on lunch (I am not exaggerating!).
Yesterday, my wife mentioned a story that Texas has the 4th worst drivers in the country. I don't know whose list or what they based it on, but our car insurance rates confirm it belongs high on any similar list. Insurance is cheaper most other places. Add to that the cost of annual safety/emissions tests, and you see Texas isn't all that car friendly.
Don't ignore utility costs. Around here, water can be a rude awakening. My water bill this summer peaked at $342.59 (that is not a typo). The average was something close to $110 per month. This is not the whole utility bill. IT IS JUST WATER. And this is while under watering restrictions. My heating costs aren't bad (cheaper than water!), but brace yourself for the cost of keeping reasonably cool in the summer.
I have tried to find the various state/local government's TOTAL per capita budgets and compare that rather than just tax rates. After all, if they spend it they have to get it somewhere. I never could find the budgets for the various Texas turnpike authorities to add that in. Couldn't get the other "revenue funds" (e.g. where the water bill goes) to add in either. Even so, using this comparison, I didn't find that much difference between Texas and the "not tax friendly" Minnesota at the other end of I-35.
From New York, being a half back may not be a bad idea. (Half back - people that retired to Florida and found it didn't suit them. So they went half way back.) Virginia and the Carolinas have their good points. Just be sure to look at all the factors you can find and not focus on the few things that the politicians like to talk about.
Rudi wrote:New Brunswick![]()
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Low cost of living, reasonable taxes, and I do mean reasonable. Compared to NY it is downright cheap. Good medical, cheap insurance .. low property costs. Clean air
I loves it here
Jackman wrote: how does Texas raise enough money with out income tax
Jackman wrote: . . . speaks highly of Texas . . .![]()
Rudi wrote: ....Good medical....
I wrote...and the hospital said his hospitalization will be paid by the Canadian government.
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