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Old 06-28-2011, 12:05 PM   #21
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I'm not sure there is much relationship between the 8.25% sales tax and funding mass transit. Look at how long its taken to deploy light rail, and now we will have toll roads everywhere (some even with foreign owners). Isn't most of that sales tax going to education and other state services?
And sometimes it's even worse. A few years back, Santa Clara County, CA voters approved an extension of a half-cent sales tax in order to bring BART down into San Jose. It even passed the 2/3 majority hurdle required by Proposition 13.

But guess what? It's still going nowhere, the county used that sales tax revenue for other transit projects. mostly to plug gaps in a very sick existing transit system (when it was clear the voters wanted BART), and I don't think is BART any closer to San Jose than it was a decade or so ago when this tax extension was passed.
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Old 06-28-2011, 03:12 PM   #22
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Summarizing the list for those who don't want to read the article:
  1. Vermont
  2. Minnesota
  3. Nebraska
  4. Oregon
  5. California
  6. Maine
  7. Iowa
  8. Wisconsin
  9. New Jersey
  10. Connecticut
We're planning on retiring in Colorado, most likely regardless of the tax situation.
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Old 06-28-2011, 03:25 PM   #23
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Wisconsin is at number 8, The only surprise is that we are not number 1!
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Old 07-04-2011, 10:48 AM   #24
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The flip side (the current top 10, as tax-friendly states in retirment):

10 Tax-Friendly States For Retirees 2011 - Kiplinger
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Old 07-04-2011, 03:37 PM   #25
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I wonder how this list is different than for those working. I'd guess pretty similar.
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Old 07-05-2011, 11:24 PM   #26
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Interesting how the tax-friendly states are mostly hot and humid. I don't think you can ever compare states to retire to without looking at the big picture - I would gladly pay more in taxes to have a dry heat and lots of artists nearby etc. Was reading a magazine in the doc's office today called Places to Retire (I think it was called - if not, something similar). Everyone who commented on why they picked that place in particular mentioned the weather, how friendly the people were, things to do, etc. I don't remember any mention of taxes!
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Old 07-05-2011, 11:47 PM   #27
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Also you have to look at what the sales tax applies to. In Texas, Groceries, prescription and non prescription drug are not taxable. There are also a couple of 'sales tax holidays' prior to back to school on clothing, school supplies and such. Also you have to consider the state tax vs a stat+municipality tax. Many areas in Texas do not have the municipality tax. Also property taxes vary. In my area we have a Municipal Water District, with a high tax, low property values, no municipality tax, no income tax, property tax frozen for over 65 (both county and school). Bottom line, however, while I believe the cost of government is significantly lower than say CA. or NY. it is most likely not far off of most states. And, DW ain't moving so it is really a mute point.
To boot you can to some extent control property taxes by choosing not to live within city limits (easier outside the metro areas), of course you do get to pay for trash collection. Its a good bit harder near metros because if you buy in a development it will likley be in a Municipal Utility District. City taxes can increase the tax bill by 1/4 easily.
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Old 07-06-2011, 09:24 AM   #28
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Interesting how the tax-friendly states are mostly hot and humid. I don't think you can ever compare states to retire to without looking at the big picture - I would gladly pay more in taxes to have a dry heat and lots of artists nearby etc....
Wyoming.
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Old 07-06-2011, 09:35 AM   #29
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Louisiana is listed as one of the 10 tax friendly States, which may well be true if you live there, but I'm retired, not living in Louisiana and it isn't very tax friendly to me. About 40% of my pension income comes from the company in Louisiana I used to work for. It is a non-qualified pension and I don't pay FICA or Medicare, but I do have to pay LA State income tax on that income.
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Old 07-06-2011, 04:34 PM   #30
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Notice how most are freezing cold in the winter, so what do you expect?

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Old 07-07-2011, 03:04 PM   #31
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I think you pick the place where you think you will be happiest and then deal with taxes. I have a friend who bought a place in Ireland for its 8% tax rate, tried living there, then sold out (before the meltdown), and decided that paying taxes was worth it!
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Old 07-07-2011, 03:31 PM   #32
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I think you pick the place where you think you will be happiest and then deal with taxes.
Yep, that's pretty much it.
Alaska is a very tax friendly state for retirees, but people don't often include it in these lists. Maybe something to do with the climate?
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