Jump to content

Retiring In Houston


Dustin

Recommended Posts

I do think it is a good city in which to retire.  The climate is generally good, the cost of living is low, medical care is world-class, and there is a lot to do.  Whether it beats out Florida or Arizona is a matter of preference, but I sure wouldn't like either one of those.

 

Link to comment
Share on other sites

  • 4 months later...

Texas has an financial issue for retirees. With no income tax, the equivalent tax on everyday people is property tax. Neighboring states with income tax, Income tax+property tax are very similar to texas property tax. So when you retire in Texas, you tax rate does not go down with your reduced income. 

 

Part of cost of living calculations. 

Link to comment
Share on other sites

15 hours ago, skwatra said:

for property tax keep in mind that there are additional exemptions after you turn 65 and certain parts of the property tax freeze.

Quite paltry when compared to several other states -most small and cold -  except Georgia which ranks very high and is actually ahead of it neighbor Florida.

http://www.politifact.com/georgia/statements/2015/nov/13/Kiplinger-com/georgia-tax-friendly-state-retirees/

 

$135k of income is excluded for income tax for a Married couple 65 and older.  Property taxes are much less than here too.

 

Texas might look good to a 60 year old freezing in the high tax tundra or suny west coast beaches.  But for those folks already here, Georgia looks even better.

 

 

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...