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Very doubtful. There's just so many better places to live as a retired person imo. I'm looking at Belize or Costa Rica personally. If I were to stay in the US, I'd probably retire in Florida or one of the Carolinas.
I’ve thought Florida winters and North Carolina Summers
Don't know your age, but since this is a thread about retirement locations, it is reasonable to ask if you've taken into account the exemptions and freezes to which you would have been entitled on your Texas property taxes as a senior citizen.
62 here, so I wouldn't have been eligible for any property tax freezes/exemptions for a few years.
Obviously, all of this is situational. It may very well be that your tax burden is lower in Ohio than Texas. But for most people such would not be the case. It certainly wouldn't be for my family.
I absolutely agree with your latter point about this being situational. While I was in San Antonio, I owned an expensive home---my property taxes were in excess of $20,000 per year. Clearly, I could have had a lower tax burden had I purchased a less expensive home. The property taxes on my home are in Ohio, plus the state income tax are significantly less than the property tax total in Texas. Yes....the home I purchased here is less expensive than the one in San Antonio.
That’s great,
What that doesn’t tell you is that Texas cities are full of toll roads (tax in disguise) and there’s no toll roads in Missouri (only one bridge in the middle of nowhere is toll)
We had hoped to stay in TX after retirement to be near family but the property taxes on our central Austin area home were just too much and going up every year even with senior exemptions. Our taxes on a $475,000 value house here in Colorado are $1300 a yr. In three years, we can deduct $200K from the valuation for even lower amount. Plus in Colorado, any revenue remaining over state budget expenses are returned to citizens. This year, we will get $1200 back. Another thing, the weather in central TX stinks...way too hot for too long.
$425,000 house taxes for a few locations tossed about.
San Antonio, Texas $9,400
Suburban Chicago $8,600
Gilbert, AZ $1,100
Central FL $4,576
Quote:
Originally Posted by WRM20
For an over 65 living in Houston in HISD, that 425,000 house would have taxes of $3,550 after exemptions.
Just to clear up randomly seeing this thread and comments as if Real Estate prices up North like a Chicago are all like over $8,000 for housing in this $425,000 range. I recently posted some in the city vs city forum on homes in that range and most neighborhoods are not there. Gentrifying and lakefront areas to downtown can be. Just regular good neighborhoods thru the city no. Some suburban homes are higher than the city now where back-in-the-day it was reversed. Though most homes with taxes over $8000 will be over the half-million and way up range and yes even like metro Texas gets way up there as values of the homes skyrocket.
MAINLY, I wanted to note that not just Houston offers Seniors incentives or discounts on homes they own in retirement to keep them in them homes and lower taxes, freeze them to defer them for a few years or when they sell those deferred taxes are taken.
When I see all these newer homes in like the Inner-Loop of Houston where their gentrification is just RAZE all the old homes not worth saving built on blocks and built anyway one wanted and their new taxes and rents.A city like Chicago had zoning back to the 1920s and quality building codes. Many left with a forever HOA too vs the cheap homes that were lost. HOA's for single homes is Usury and you would think a free state would not want them as if on the hook on a new forever tax IMO.
This link shows IL does give Seniors exemptions too.
Cook County Chicago and a good portion of its suburbs are part of. Seniors also get DISCOUNTS for their property as a senior in a number of tax-saving initiatives.
Such as - as tax cut as a senior, one that FREEZES their tax and another as a Tax Deferral Program.
So many you see now for sale in Chicago and Chicagoland with their yearly taxes listed on Realtor sights online. Clearly show these seniors and long-time homeowners getting LOWER TAXES especially those who did not do major upgrades to have them go up faster.
These listings show lower long time owner Taxes and if some exemptions for being a Senior was utilized by the owner.
Also any Slab home up north at least in Chicagoland or if for some reason lacks a garage including Chicago. That home is much "lower" in value vs a home with a basement especially fully finished as part of the home. For Chicagoland a Garage adds an average of $34,000 to the value of a home vs a home without one. Most homes though have a full-basement and most FINISHED as if another floor.
Chicago suburban and Chicago city examples.
This Park Ridge home with an owner so long the stats on past sales has no others listed. Has the usual Full Finished Basement (Texan.... what is that?). Even the owner has his tool and workshop there in the pictures so organized. Who needs a shed then? All homes have a garage even the majority in Chicago in its vast alleyway system.
Home built in 1957,
Currently for sale for $474,000. No last sale date so a long time owner.
Tax Annual Amount: $1,633
Tax Year: 2022
Tax Exemptions: Homeowner, Senior, Senior Freeze
This beautiful home in Niles IL just over the Chicago border inside and furnishings stuck in another era I would go back to. Well maintained and full-finished basement as usual for Chicagoland.
Built in 1959. The year when I was born.
Last sold in 1977 for $68,000. The year I graduated High School.
Tax Annual Amount: $3,476
Tax Year: 2022
Tax Exemptions: Homeowner, Senior, Senior Freeze
This home in the suburban Chicago suburb of Elk Grove Village is a home if you view pictures stuck in another era in a good way and partially finished basement.
Built in 1958
Currently for sale for $419,900
Last sold in 1997 for $210,000.
Tax Annual Amount: $2,587.75
Tax Year: 2022 Tax Exemptions: Homeowner, Senior
A suburban Des Plaines home just northwest of Chicago proper. Still great upstairs with a real fireplace nice 80s 90s looks and full-finished basement in the good ole 80s wall paneling. All around good for many more decades.
Built in 1966.
Currently for sale for $499,900.
Last sold in 2004 for $395,000
Tax Annual Amount: $2,865
Tax Year: 2022 Tax Exemptions: Homeowner, Senior.
Some CHICAGO PROPER homes... just to note most finished basements do not count in sq/ft in Chicago and even suburbs unless half is above grade and the vast majority of homes have a finished basement. This Chicago proper home is not bad at all nice hardwood floors even has one of its baths kept a retro pink sink and black subway tile. Finished basement with another kitchen and bath. Usual Chicago garage in alleyway in back and nice yard. Bit higher taxes.
Built way back in 1926 (looks a lot newer).
Currently for sale for $319,000.
Last sold in 1997 for $123,500.
Tax Annual Amount: $4,765.97
Tax Year: 2022 Tax Exemptions: Homeowner, Senior, Senior Freeze.
This another Chicago proper home does not read senior exemption but lower taxes and clearly the interior is STUCK in the 1980 and before with few upgrades since but still looks great.
Built in 1961
Currently for sale for $424,995.
Last sold GOOD OLE 1987 for $171,000.
Tax Annual Amount: $3,798 Tax Year: 2021
CLEARLY, less upgrades to lower taxes for long time owners get LESS SOCKED WITH TAXES in Chicagoland despite all the labels, and demonizing and accusing. Some you have to go after the breaks especially if you do upgrades to keep new assessments down.
This another nice mid-century got some nice upgrades for the new owner as Contingent now. Full finished basement again and classic exterior brick home. Usual Chicago garage as most homes have them. Plenty more decades on this baby also.
Built in 1959
Currently Contingent, but still showing for $425,000.
Last sold in 1993 for $185,000
Tax Annual Amount: $3,097
Tax Year: 2022 Tax Exemptions: Homeowner,
This home with some great original woodworkings and floors was preserved. Says no senior discounts but lower taxes as a long-time owner perhaps or more recent upgrades. Still, went Contingent quick and some new family will give it another generation of love. GLAD THESE ARE NOT HOUSTON THROWAWAY HOMES.
Built in 1915 though public facts say 1911.
Selling for $350,000.
Last sold in 1997 for $146,000.
Tax Annual Amount: $3,823
Tax Year: 2022 no exemptions given.
This is a Victorian built long ago probably oldest in this block of mid-century homes. Great interior yard usual 2-car Chicago garage in alleyway in the galewood neighborhood.
Built way back in 1891.
Last sold in 2014 for $279,000
Contingent still showing and went quick too.
Selling for $275,000
Taxes $4029,90 Tax Year 2022.
No exemptions given.
So clearly, Chicagoland gives Senior taxes discounts, freezes and deferral to when home might be sold. And many long time owners still have lower taxes vs others.
Just to clear up randomly seeing this thread and comments as if Real Estate prices up North like a Chicago are all like over $8,000 for housing in this $425,000 range. I recently posted some in the city vs city forum on homes in that range and most neighborhoods are not there. Gentrifying and lakefront areas to downtown can be. Just regular good neighborhoods thru the city no. Some suburban homes are higher than the city now where back-in-the-day it was reversed. Though most homes with taxes over $8000 will be over the half-million and way up range and yes even like metro Texas gets way up there as values of the homes skyrocket.
MAINLY, I wanted to note that not just Houston offers Seniors incentives or discounts on homes they own in retirement to keep them in them homes and lower taxes, freeze them to defer them for a few years or when they sell those deferred taxes are taken.
When I see all these newer homes in like the Inner-Loop of Houston where their gentrification is just RAZE all the old homes not worth saving built on blocks and built anyway one wanted and their new taxes and rents.A city like Chicago had zoning back to the 1920s and quality building codes. Many left with a forever HOA too vs the cheap homes that were lost. HOA's for single homes is Usury and you would think a free state would not want them as if on the hook on a new forever tax IMO.
This link shows IL does give Seniors exemptions too.
Cook County Chicago and a good portion of its suburbs are part of. Seniors also get DISCOUNTS for their property as a senior in a number of tax-saving initiatives.
Such as - as tax cut as a senior, one that FREEZES their tax and another as a Tax Deferral Program.
So many you see now for sale in Chicago and Chicagoland with their yearly taxes listed on Realtor sights online. Clearly show these seniors and long-time homeowners getting LOWER TAXES especially those who did not do major upgrades to have them go up faster.
These listings show lower long time owner Taxes and if some exemptions for being a Senior was utilized by the owner.
Also any Slab home up north at least in Chicagoland or if for some reason lacks a garage including Chicago. That home is much "lower" in value vs a home with a basement especially fully finished as part of the home. For Chicagoland a Garage adds an average of $34,000 to the value of a home vs a home without one. Most homes though have a full-basement and most FINISHED as if another floor.
Chicago suburban and Chicago city examples.
This Park Ridge home with an owner so long the stats on past sales has no others listed. Has the usual Full Finished Basement (Texan.... what is that?). Even the owner has his tool and workshop there in the pictures so organized. Who needs a shed then? All homes have a garage even the majority in Chicago in its vast alleyway system.
My house was built in 1952. It's 1400 sq ft on a 1/4 acre in Central Houston, and would probably sell for about $600,000. It would be demolished shortly thereafter and be replaced by a 4,000 sq ft house selling for $1.2 million like the house across the street.
There's not much wrong with our house, but it's not livable for most people today who want more than a 2br 1bath house, especially if they have kids.
In the areas that do not have deed restrictions, a 1000 sq ft house on a 1/4 acre lot gets demolished and replaced by 6 townhomes that sell for about $400,000. The houses being demolished are almost always low quality and well past saving.
Being built on blocks bears no relation to quality. There are thousands of pier and beam houses here that are very high quality and sell for high 6 figures.
Houses in Houston tend to not have basements because they flood due to high water tables. My brother in law owns a house built in 1907 that has a basement. He gave up on trying to keep the water out. Full waterproofing would cost about $40,000, if not more, with no guarantee.
In River Oaks, one of the richest parts of Houston, people buy a $10 million house and demolish it to build something else.
I posted about the taxes in Houston to show that seniors can get by with taxes that are not onerous if they pick the right place to live and pay attention to tax rates and over 65 exemptions. Texas as a whole freezes school taxes at 65, and offers tax deferral as well.
Location: East Texas, with the Clan of the Cave Bear
3,264 posts, read 5,628,678 times
Reputation: 4758
I voted retire here in Texas. I'm a Texan thru and thru. But the truth is I'm already retired in Texas (since 2020). Life is good.
48.7 acres of mostly wooded high land, 2100 sq ft home, multiple out buildings including 1200'sq shop. Taxes: <$500.
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