Retiring in Texas?

[Mwsinron]

Thanks! good deal then for retired folks

 

[haha]

I just happen to miss four seasons and have lived in Colorado before and miss it.
Jake46

Hey, just move to Dallas and you can have 4 seasons all in the same day!

Ha

 

[martyb]

I lived in Austin (Travis County) and in Bastrop (Bastrop County) for a few years prior to relocating to Louisiana. Don't miss Travis County, but would move back to Bastrop in a skinny minute, even though the taxes are way higher than Louisiana. In LA, there's a $75000 property tax exemption for county (parish) property taxes. I live just inside the city limits, so I pay the greatly exempted parish tax plus a city property tax. I expect to sell my house shortly for approx. $190K-$200K (not sure the tax value, I'll have to look) and my total property taxes for last year were around $1100. That said, I still prefer Texas, ebola & all. There's some odd folks in Louisiana! Hard to beat the fishin' though.

 

[playaman]

As one who plans to retire to Texas in mid-2008, I appreciate this set of thoughts, particularly Rustic 23's comments.

I have lived in a half dozen states (presently residing in San Diego, California) and enjoyed them all. Having been reared in Texas (or "raised" as one would say in the Lone Star State), however, the call of "home" is strong -- plus the fact that housing is so inexpensive compared to East and West Coasts. I'll take the higher property taxes over higher housing/utility costs any day.

My wife and I are particularly interested in living in one of the "active adult" communities in Texas, probably in the San Antonio/ Austin corridor. If anyone has any special insight into those communities, I'd appreciate hearing it.

 

[REWahoo]

My wife and I are particularly interested in living in one of the "active adult" communities in Texas, probably in the San Antonio/ Austin corridor. If anyone has any special insight into those communities, I'd appreciate hearing it.

Some observations on the Dell Webb community in San Antonio:

It's less than a year old and initial demand was so great that you had to apply and be pre-selected in order to get a tour of the location. Not sure if that's still the case, but demand for new housing in the area remains very high.

It's located in the middle of several new subdivisions on the western outskirts of the city. Projections from last year are for 15,000 new homes to be built in that general area within the next decade. The roads are at least a decade behind the growth curve, so traffic in the area is going from bad to worse. If you decide to check it out, be sure to do so during rush hour.

On a positive note, all the construction in the area has eradicated the rattlesnake population and sent the scorpions scurrying for cover. (Unfortunately the scorpions will be back as soon as you move in.) Lots of shopping and two hospitals are also under construction, so you won't have to go far if you're stricken with Ebola. Just hope it doesn't hit during rush hour or you're a goner for sure.

 

[chinaco]

His $120,000 house is now closer to $350,000 and rising, and his taxes are on following suit.

You did not comment on the tax rate or the trend of the increases. In otherwords current tax rate is 3% and increasing .2% on average every x years.

If the taxes are unbearable... consider selling the house and relocating to an area with lower taxes or house of lower value.

Heck... I wish i had a your friend's problem. A 300% increase in value over a few years!!!

 

[REWahoo]

If the taxes are unbearable... consider selling the house and relocating to an area with lower taxes or house of lower value.

Heck... I wish i had a your friend's problem. A 300% increase in value over a few years!!!

Sure, his friend can always sell and cash out on the appreciation in his house. But since this guy bought a retirement home in this location, could be his friend is exactly where he wants to be and may not want to relocate. It isn't always about the money.

I think Rustic's original point is that even in traditionally low real estate appreciation markets like Texas, property taxes (along with the rattlesnakes and scorpions) can bite you and screw up your retirement plans.

 

[chinaco]

Sure, his friend can always sell and cash out on the appreciation in his house. But since this guy bought a retirement home in this location, could be his friend is exactly where he wants to be and may not want to relocate. It isn't always about the money.

I think Rustic's original point is that even in traditionally low real estate appreciation markets like Texas, property taxes (along with the rattlesnakes and scorpions) can bite you and screw up your retirement plans.

I understood. It is difficult to communicate fully with a few written words.

My comment was not intended to be a narrow statement about money being all that is important.

Rather, the unexpected change had a positive effect. Look on the positive side and consider the options. It may present a good opportunity.

 

[Rustic23]

Neighbor bought a 1 acre lot on a nice lake, put in $17,000 worth of dock, and $15,000 worth of boat. Plays golf, and Waterwood has a great golf course, which cost him $230 a month for unlimited golf. Needless to say he does not want to move. However, he has 8 years till he reaches 65. At that time, Texas tax law will protect him, if he can afford the increases in his tax bill.

The tax rate in Waterwood, and for the most part throughout Texas has remained constant. If you look at the history of tax rates and values you will see the reason. In the 80’s the bottom dropped out of the real estate market. Many jurisdictions saw values drop below the level of which they could provided services at the tax rate of the time. They did what every good government does. They raised rates. In the late 90’s and throughout the 2000’s properties values have risen. The politicians, for the most part, kept the tax rates the same, and told property owners they ‘have not raised taxes’ they kept the rates the same, and spent the windfall of cash. This is beginning to catch up with them, but many areas have seen a 10% increased in property taxes for 3 to 5 years and for some it will continue for another 2 to 3 years, at which time things should level off at 3 to 5%.

My caution about retiring in Texas, Ebola, snakes, scorpions, tornados, and hurricanes aside, (just saw report about severe flooding, left that out ) … is, if you have a long time before you will reach 65, be careful about the cheap property values. Check the history of value increases. Texas politicians are no different than any other, they are addicted to spending, and property taxes fund schools and local governments here.

I don’t know about other folks that post on this board, but we moved 23 times in 35 years of work! When we built this home, moving in yes, moving out NO, no matter what it is worth.

 

[Jarhead*]

I think Rustic's original point is that even in traditionally low real estate appreciation markets like Texas, property taxes (along with the rattlesnakes and scorpions) can bite you and screw up your retirement plans.

ReWahoo: You should be ashamed of yourself for mis-leading the young members of this board, re: Taxes on property. (Texas-Style).

Your home in Calif., if you were inland (low rent district) would run you about $8000.00 a year. If you were on the coast, probably in the 12 to $13,000.00 area. (Probably pretty close to the Eastern Seaboard, also).

Also, in Calif., state income taxes go up to 9.5% Sales taxes 7.5%.

You don't have to worry about my moving, though.

Not because of humidity, ants, etc. etc., but It would be just my luck to move next door to John Galt.

Nice try though!

 

[Eagle43]

Jarhead,

If you move down here, I'll get you a house on the 9th hole. Close enough? Then all you'll have to worry about is golf balls coming through your living room window. JG doesn't golf.

I thought you Californicators had Prop 13 to protect you? Or is that just dating myself?

 

[mickeyd]

If I were recommending that someone consider a move to Texas, I would direct them to either the San Marcos area or the Kerrville area. Both are far enough away from large cities, but close enough to them for medical or shopping or entertainment.

 

[Jarhead*]

Jarhead,

If you move down here, I'll get you a house on the 9th hole. Close enough? Then all you'll have to worry about is golf balls coming through your living room window. JG doesn't golf.

I thought you Californicators had Prop 13 to protect you? Or is that just dating myself?

Eagle: No doubt in my mind that living in Texas would be a helluva lot less expensive, but, when you consider a "divorce", maybe not.

My Chidren live in the "Peoples Republic". (Bay Area). About 250 miles from us. No go on moving, unless it was a solo.

Re: Prop 13, I was talking coming in the front door. I've seen ReWahoo's property, and conservatively it would cost $750,000.00 Inland, and probably in the area of $1,200,000.00 on the coast. Prop 13 gives you a limitation on increases, but initially, the figures $8000.00 and $13,000.00 would be very close.

I built my home 20 years ago on the rim of a canyon, and we're a mile from our nearest neighbor, so we're alright there. If I had to live in a "neighborhood" in Calif., I would be long gone.

You're in the "Cat-Bird" Seat.





MODERATOR EDIT: Corrected quote

 

[2B]

Now here's a good reason to retire in Texas -- alligator hunts. The spring gator hunt is about to start. This shorter season is also more restrictive than the fall hunt. A hunter can take only one gator and it has to be on private land.

If you come, let me know. I know of a place inside the Houston city limits that has many 12 to 14+ foot gators. Don't even both with the 10 footers. They're everywhere; and if you can only get one, go for a good sized one.

You won't get this kind of excitement by retiring in Oregon.

 

[Mwsinron]

Now here's a good reason to retire in Texas -- alligator hunts. The spring gator hunt is about to start. This shorter season is also more restrictive than the fall hunt. A hunter can take only one gator and it has to be on private land.

If you come, let me know. I know of a place inside the Houston city limits that has many 12 to 14+ foot gators. Don't even both with the 10 footers. They're everywhere; and if you can only get one, go for a good sized one.

You won't get this kind of excitement by retiring in Oregon.

Too bad the deer hunting isnt as good as this alligator hunting you are speaking of. Oh well Ks isnt that far of a drive up north

 

[gandalf42]

Now here's a good reason to retire in Texas -- alligator hunts.

I know of a place inside the Houston city limits that has many 12 to 14+ foot gators.

I hope you don't have to check whether its a "doe" or a "buck" before you shoot them!

er..you do shoot them don't you?

 

[bssc]

I lived in Houston from 89 to 96. My house appreciated from 96K to 106K. I paid about $2K a year in property taxes although there were no state income taxes, which bears repeating.

 

[2B]

I hope you don't have to check whether its a "doe" or a "buck" before you shoot them!

er..you do shoot them don't you?

Mostly I give them a big kiss. A "doe" will swoon. A "buck" will be startled; and when he backs off, he's a goner. It's too much trouble to turn a gator over to check. A big kiss is easier.

 

[playaman]

Thanks REWahoo for the insight on the Del Webb community in San Antonio.

I visited there on a Sunday when traffic was light. Obviously, I need to see it in the rush hour too.

 

[REWahoo]

I've seen ReWahoo's property, and conservatively it would cost $750,000.00 Inland, and probably in the area of $1,200,000.00 on the coast. Prop 13 gives you a limitation on increases, but initially, the figures $8000.00 and $13,000.00 would be very close.

Jarhead, I think you're low-balling, especially after our recent remodeling job - installed a set of new tires and tornado resistant roll bars.

 

[Jarhead*]

Jarhead, I think you're low-balling, especially after our recent remodeling job - installed a set of new tires and tornado resistant roll bars.

Yehaaaaaaaa! Getting ready for a move, are ya?

Half-time with UCLA and Florida. Not looking good for the Bruins.

John Wooden, we need ya.

 

[REWahoo]

I visited there on a Sunday when traffic was light. Obviously, I need to see it in the rush hour too.

When you do check it out, imagine how much worse it will be once the hundreds of acres surrounding Del Webb are filled with several thousand tract homes. Note that there are only two ways to enter/exit the area and both will surely become traffic choke points.

The city will eventually do something to help relieve congestion (they are already widening the two miles of Hwy 471 to 4 lanes between Loop 1604 and FM 1560), but it will be several years before any real relief is in place. Today's paper noted that one road improvement project in the area had been postponed - to 2018!

 

[ARIZONA]

I sold my house and made South Dakota my home base....no income or personal property tax and no vehicle inspections. I'm a full-time RVer. It works for me.

 

[audreyh1]

I think the secret to retiring in Texas is to "live" in a PO box at a local UPS store. You then have "vacation homes" in other states so you can make extended visits without triggering that state's income tax. You get to move to nicer areas during the year plus avoid Texas' property tax and the other state's income tax.

The Ebola has wiped out most of my neighborhood. I'm paying about 3.8 cents per hundred.

That's what I do - texas resident but own no real property. Whenever I hear of an Ebola outbreak I put down the wheels and move to a different county.

Audrey