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Old 05-26-2015, 12:42 PM   #21
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If you are looking for somewhat milder weather consider Clark, Cowlitz or Skamania Counties in Washington. Not far to Portland and PDX.

Avoid the Toutle River drainage area and stay well above the Cowlitz River, they are having problems with the Spirit Lake dam spillway (Mt. St. Helens debris).
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Old 05-26-2015, 02:13 PM   #22
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Personally, if you are well-off financially (which your 5% = $15,000 state income tax implies) I personally think you are letting the tail wag the dog. Find where you want to be first and then structure your situation as best you can to minimize taxes. As an aside I have lived in Jackson Hole and you could do a lot worse assuming you can deal with the "isolation". I say this as a former NYC denizen as well...
I'm sure there are many places where we'd enjoy living, but after having lived in high tax NYC for thirty years and watching what our substantial tax dollars get wasted on right in front of our eyes, it tends to contribute to a constant state of annoyance that actually does factor into quality of life. All things being equal, we'd prefer to live in a state with no to low taxes at this point.
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Old 05-26-2015, 02:24 PM   #23
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you won't be able to beat WA state then
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Old 05-26-2015, 03:12 PM   #24
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Like others said you have to factor it all in and know every variable. A good friend of mine moved across state lines to Illinois and was bragging about how his pension was state income tax free now. Then I asked "Yes but how much more is your property tax?". Well it alone almost swallowed up the difference. He didn't like bragging about that! Just broad picture statement which alone means very little....You have to live in an area that provides less govt services and/or exports the tax burden to tourists....Like Nevada.


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Yes, they have to get the money from someplace. Low or zero state income taxes often mean higher property taxes. Then you have to consider how you like your government run. High property taxes with low income taxes sometimes means more local control of spending. High income taxes sometimes means more state control and dependency on the state legislature for how things will be.

It's a complicated picture. Best analyzed by determining what your total tax picture will be in the new location and if any differences might be justified.

For example, my DS and his DW live in a snazzy Chicago suburb with high property taxes and outstanding schools. They have a special needs child who gets excellent, top notch services from the school district. Moving to another suburb to save $1k to $2k in property taxes but with a school district that does everything it can to avoid the expenses of special needs kids would be a mistake for them.

It's personal and situational.
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Old 05-26-2015, 04:33 PM   #25
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If you are looking for somewhat milder weather consider Clark, Cowlitz or Skamania Counties in Washington. Not far to Portland and PDX.

Avoid the Toutle River drainage area and stay well above the Cowlitz River, they are having problems with the Spirit Lake dam spillway (Mt. St. Helens debris).
+1.

An ideal location. WA has no income tax and OR has no sales tax. Portland is a very cosmopolitan city as well. (I grew up there.)

A very moderate climate compared to what you are used to, as well. None of the other states you are considering come close.

The Hudson reminded me of the Columbia as well. Both have palisades (basalt hexagonal 'pilings'). The local dialect is the same in both places as well (mostly upriver NY; parts of NJ and NYC are incomprehensible to me to this day).
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Old 05-26-2015, 04:47 PM   #26
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I agree that WA state is a good choice. I live on the Kitsap Peninsula (Sequim is on the upper corner of the Peninsula). I live in a rural area between Gig Harbor and Bremerton. Seattle is about 40 minutes way via the ferry. I am sure you can find 5-20 acres here for a reasonable price, we have 5 acres for sale right now at $90k, so that might help give you a rough perspective on land values in the area.

If you want view property it will go up accordingly. The down side to this area (the Peninsula) is the dearth of any good restaurants--there are decent restaurants but for any good and fine dining you will be heading to Seattle. The plus side is if you drink beer there are tons of micro breweries here! And the area is beautiful and very accessible.

The weather down side is it rains, sort of, more mist and gray, but if you are impacted mood wise by the weather it isn't a good choice. Plus side is when summer hits, the summers here are spectacular! We enjoy it here quite a bit.

Good luck in your decision!
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Old 05-26-2015, 06:44 PM   #27
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+1.



An ideal location. WA has no income tax and OR has no sales tax. ).

Similar for NE WY people. Wy no income tax, Mt no sales tax. Billings Costco and other shopping areas have lots of Wy cars on weekends.


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Old 05-26-2015, 06:45 PM   #28
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Another thumbs up for WA. North Olympic peninsula specifically. Of course, as has been mentioned, big city Seattle is not within an hour. I just bought a house in Sequim myself and I can't leave Illinois soon enough.
Sure, there's no tax on pensions in IL, YET...
For some generally general generalizations, figure around 1%/yr (or less) in property taxes. Proportionally, that is WAY below what I'm paying now. However homes cost WAY more. D'OH! Still worth it.
If you want to peer into the future, SELLING your WA home gets expensive. ~1.5% excise tax. Of course, that doesn't compare to the income tax saved over years, especially for the OP's circumstance.
From a tax standpoint, the acreage itself needn't necessarily be costly, if timber or other exemptions apply. Of course, building a fancy home may cost you $200/sq ft or so above the cost of the land.

No tornadoes in the spring, no heat/humidity in the summer, no below zero temps nor snow in the winter.
Not sure if I'm paying more in the long run, all things considered. But if I am, the climate upgrade alone was worth it.
After all, in the long run we're all dead. (was that Keynes?)
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Old 05-26-2015, 07:15 PM   #29
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I wouldn't let the tax tail wag the retirement location dog. Choose a place where you will enjoy your remaining years, because if you're miserable in your new community, your low tax bill will be cold comfort.
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Old 05-26-2015, 07:26 PM   #30
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I agree with the southern Washington ideas. Mild weather, natural beauty, no income tax in WA and no sales tax in OR. I think it's the only place where a no income tax state borders on a no sales tax state.

BUT there is an even more attractive option if you are willing to live at least 1/2 of the year in Puerto Rico. Potential for no state and NO federal income tax and no tax on dividends or capital gains. You don't even have to do anything with your U.S. citizenship.

http://www.forbes.com/sites/robertwo...can-avoid-irs/



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Old 05-26-2015, 08:25 PM   #31
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Vancouver WA area is near Portland OR. WA has no income tax and OR has no sales tax so some shop in OR then owe WA use tax which is the same rate as sales tax. You might enjoy the Mt St Helens area, it has a volcano.
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Old 05-26-2015, 08:38 PM   #32
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You'll freeze in WY. Try SW Idaho. It's the tropics compared to E Idaho or WY.
I'd second that. My wife's family moved to Boise area and I've visited several times. BIL has 40 acres on a mountain top backed up to BLM for under $500,000 with a 3600 sq. ft. home. Commute to Boise is about 40 minutes.

Amazing views, low taxes and mostly inexpensive other costs. I'd move there if it didn't harbor my in-laws....
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Old 05-26-2015, 08:52 PM   #33
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You might want to take a look at Red Rock outside of Reno, NV. It is 35 minutes to downtown Reno and about 40-45 more to Tahoe. I bought 17 acres and had a house built and would have a very hard time leaving it for good....I do spend time in Hawaii but believe it or not there are times in Hawaii that I miss Red Rock...
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Old 05-26-2015, 09:04 PM   #34
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The crowd here is pushing your toward Wyoming. I love to ski, but wouldn't want to deal with so much snow and winter weather. I too love Lake Tahoe, but it's too expensive to retire to, and I don't care for Nevada's deserts.

I like a place with more people and a better society than you'll find in much of Wyoming and Montana. Many citizens are service related. The nicer towns are usually ski resorts and simply unaffordable.

And healthcare is increasingly important as you get older. Many small cities just cannot handle elderly healthcare and the ailments that might hospitalize you.

My sister has a house in Banner-Elk,NC--in an equestrian neighborhood with a Jack Nicklaus Golf Course and their own 4600 foot landing strip called Elk River. The two highest ski resorts on the East Coast are there--Beech Mountain and Sugar Mountain. They absolutely adore the people in their resort--many of which move to their Florida houses for the winter. The local citizens are often real hillbillies--people of simple needs and very high character.

For mountains in the East, Asheville, North Carolina is a great mid size town. There are also a number of very luxurious golf/tennis communities in the mountains south of Asheville and north of Greenville, NC--just outside of the Smokies. The Highlands and Cashiers, North Carolina also have a number of residential resorts with a high level owners. Gary Player was south of there building a golf course, and he like it so well he moved his whole golf course architectural firm to the NW South Carolina mountains.

We have a place in the rustic North Georgia Mountains just over an hour north of Atlanta. We have the big city amenities if needed, but seldom care to go to Atlanta. Our main house is on the Tennessee River waterfront in NW Alabama. We're here for the fantastic lake with incredible houses and a very low cost of living.

There are just so many great places to live in the U.S. that would suit your needs. It's especially nice to live out in the country, but not so far out--close to cities.
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Old 05-26-2015, 09:59 PM   #35
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A bit sad that someone with 300K of retirement income would use income tax as the determinant of where to retire. Lighten up! You can live anywhere you want and be very comfortable.


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Old 05-26-2015, 11:19 PM   #36
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Re: Various types of taxes
I was trying to get up in this thread for some comparison sites but the one I mentioned may be useful to you.

Are there any other sites besides this one for doing comparisons?
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Old 05-27-2015, 12:12 AM   #37
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Thanks to all for putting WA on my radar. I had not considered it, as for some reason (possibly inheritance tax) Kiplinger does not consider it super tax friendly.

Does the WA inheritance tax (after first 2M) affect inheriting from spouse ?
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Old 05-27-2015, 01:49 AM   #38
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I am thinking of WY when we give up the j*bs. I need something mountainous and don't mind the snow, but don't necessarily need it. I was thinking Lander, WY or Rock Springs. Just wondering if the wife is coming with me....I guess I should ask her or at least let her know of the plans.
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Old 05-27-2015, 08:19 AM   #39
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I wouldn't bank on WA state being a no-income tax state for much longer. There are some rumblings about establishing a tax for higher earners that I think may gain legs.

I am not sure how much that catastrophe in Seattle with the giant tunnel boring machine is going to end up costing the state (hard to imagine Seattle eating the whole cost overrun) and there are other money sinks that sales tax may not keep up with.
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Old 05-27-2015, 08:56 AM   #40
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How is the medical care in (remote) WY?
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