States With NO Property Tax For Retirees

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Опубликовано:

9 май 2023

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Комментарии : 131

@Berley_1234 2 месяца назад

property tax is just like the Feudal lords in England, except the lord now is the county government

@PB4Y2 Год назад

One thing to realize is that, at least in Alabama, while you don't pay STATE property tax when any of the legal owners of a primary residence turns 65, it doesn't happen automatically. They don't know how old you are. When I turned 65, I had to go down to the county tax office, show them my driver's license and they filled out some form which exempted me from paying the state portion of my property tax in future years. In my case it was about 10% of the total tax bill. Not overwhelming savings, but worth doing. You only have to do that once, not every year.

@JoshScandlen Год назад

Very good to know

@Timanator Год назад

@@JoshScandlen 10% is alot???

@BirdDogey1 Год назад

Boerne Texas here. Texans are getting clobbered by property tax.

@johnnyadams1755 Год назад

Florida is misleading on the list. Every homeowner gets 50,000 homestead exemption on primary residence. To qualify for extra reduction, you must be 65 and have lived 25 years in your home valued at less than 250k and have an income less than 32,000 AGI.

@denny5564 Год назад

Thanks, did not know that !

@Linda-ic1il Месяц назад

EXACTLY RIGHT!

@user-du5ie4rb6t Месяц назад

These days how many homes are valued at less than 250k. The median home price is 402K

@JBoy340a 19 дней назад

Is any house valued at less than 250K in Florida. If so, it must be tiny and out there.

@terryweekly4510 4 дня назад

@@johnnyadams1755 Not all true. I only get 25,000.00 initial credit. Not 50,000.00

@BWowed 7 месяцев назад

I moved from new jersey to wyoming. What I save in taxes and state bullshit would pay a mortgage out here. You don't realize how bad you're getting screwed until you leave.

@rjh2772 5 месяцев назад

The weather is enough to kill you

@theodoremoore2549 5 месяцев назад

I Love Wyoming. Takes strong people to love it there. All states have neat people but Wyoming has a slightly higher %. My MD insisted I move to a lower elevation. Now live in Idaho at 3500 feet which is a bit more than 3000 feet lower than where I lived in Wyoming.

@BWowed 5 месяцев назад

@@theodoremoore2549 The altitude is a bigger problem than most people realize. I live at 6570 feet. And it's getting old but the people are great and the state is fantastic. I am now looking at moving to ocean springs mississippi.

@theodoremoore2549 5 месяцев назад

I lived at 6750 feet in Rawlins. Worked in Sinclair as an operator.@@BWowed

@theodoremoore2549 5 месяцев назад

If you lived in Hanna, I built the Rec Center. @@BWowed

@anniealexander3402 Год назад

In Georgia, the income level is so low that barely anybody qualifies. The people who do qualify live in a shack.

@kb1236 5 месяцев назад

You can file homestead exemption again at I think it is 65 and it will go down a lot, 3 times. Ours would be about 3k+ this year, after 2nd tier went to 659 and we have one more when my husband turns 70 this year. We don't live in a shack, and they did not ask our income, LOL

@annetter765 Год назад

Thank you for sharing this important retirement planning information. We’re planning on moving from Texas to Alabama. Lauderdale County offers seniors with an AGI under $12k full exemptions from property taxes.

@richard_zeller Год назад

Funny...I did the simple math on this a few weeks ago and realized the property taxes would be a bigger hit than most income taxes (Looking at YOU Texas).

@donm4452 Месяц назад

Look at Illinois too!

@denny5564 Год назад

South Carolina has a lower property tax for homestead, yes. But they kill you with a 7% income tax on anything besides Social Security. So any distribution from your IRA is taxed 7%.

@user-du5ie4rb6t 5 месяцев назад

Florida has risen significantly along with home insurance. It is now the highest state for homeowners insurance and is rising for health insurance as well.

@knuckleuprambo Месяц назад

Obviously highest for hone insurance

@priestesslucy3299 5 дней назад

The cheat code is building your own home Hurricane Proof and just not insuring the home itself (still need liability insurance)

@user-du5ie4rb6t 4 дня назад

@@priestesslucy3299 - I get building it hurricane proof but not tracking the insurance part?

@Ellis1127 Год назад

Indiana offers a Veterans exemption based on your % of rated disability from the VA. A gracious benefit for the Veterans!

@nonishearer4126 Год назад

I am 80+, live in Florida and still pay property tax.

@Linda-ic1il Месяц назад

We all do, I do not know what he is talking about!

@rjh2772 Месяц назад

He’s talking about Alabama not Florida

@markbajek2541 Год назад

It would be interesting to also look at other taxes and fees that low property tax states impose to make up the funding vs high property tax states.. I suppose you could be in a low property tax area and have a high sales tax and maybe one that also taxes food and not just soft and hard goods. Depending how much consumption you do that could make a difference .

@vinyl1Earthlink Год назад

Here in Connecticut, we pay more property tax on our cars than these states charge for a house! The only thing to do is to have a car more than 20 years old, they're valued at $100, even if they're a Ferrari.

@stephenwolinski4651 Год назад

I can’t wait to retire and get out of Connecticut if you go to the DRS tax page and see under law update 2022 they gave any peace officer the right to look at and inspect your state income tax forms .

@curtdalgleish2903 Год назад

Here in Lake County IL, there’s a real good chance your property tax payment will be more than mortgage and interest combined. We’re about 4%.

@smokey4343 Год назад

In Coffee county Tenn, you can freeze your property tax after becoming 65, (if you make under 30k a year (I think)) If you have over 15 acres, you can get into a green belt discount...

@perrypatterson9748 Год назад

Also in Arkansas, when you turn 65 you can lock in property tax amount on your primary residence, and it will never increase as long as you own the home.

@JoshScandlen Год назад

what happens when you sell?

@perrypatterson9748 Год назад

@@JoshScandlen the new owner will start paying the current rate , if you buy anther home, you start with the current rate for that home and that rate is locked in. enjoy your channel !! You have your viewers best interest at heart and it comes thru on the videos. Thanks!!

@perrypatterson9748 Год назад

Also, they are on a trajectory here in AR to eliminate state income tax, it just got lowered and will eventually phase out,

@onofriogiovine897 Год назад

Hello Josh"""in New Jersey ...there is 2 programs ... to lower NJ property Tax Senior freeze ( property Tax Reimbursement ) once you turn 65 years of age... than there is NJ Divison of Taxations Anchor program.. that was implement by Governor Phil Murphy the past year... where NJ home owns received $1500.00 this year...My Mom who is in her 90's took advantage of both programs ... who is on a fix income"" Her property tax in Bergen county is 6700.00 .. but only pays $880.00 in property tax the past year...its not all Gloom and Doom living in the garden state....

@timshull59 Год назад

Trust me they're gonna get your $$$$ one way or the other.

@evanwindom3265 6 месяцев назад

I live in King County, in the People's Republic of Washingtonistan, and over 10% of my GROSS income goes to property taxes. And the ultimate insult is that they charge a fee to accept your payment. Seriously? And what do I get for my taxes? Homeless encampments, crime, CHOP/CHAZ, etc. Sales tax is approaching 10%, too.

@northerncaptain855 Год назад

Here in Maine our only tax on our home is to the town. No separate county or school taxes. After 65 your homes property tax can not increase as long as you remember to register each year with your municipality. There is a modest 25k homestead exemption. Real estate prices and appraisals are a bit nuts near the coast but modest inland.

@kathiec1333 5 месяцев назад

Falls Church, VA is a city, surrounded by Arlington and Fairfax counties, both have high taxes as well.

@markdavis1116 Год назад

I moved from no income tax HIGH property tax Washington TO no tax on social security & pension, LOW property tax Alabama ZERO regrets. Property tax now is a quarter of what it was in WA. It will be even lower when I turn 65.

@rjh2772 Месяц назад

Enjoy the high humidity and crappy weather

@zoraidaavella4905 13 дней назад

Florida does have property taxes for Seniors.

@natal777 Месяц назад

Florida does not stop charging property tax to people over 65 I wish they did

@kenm8162 16 дней назад

WA military exemption is for 80% or higher VA disability and limited income, my county is 41k. My current prop tax is 5.5k and income tax is 4.5k.

@terryweekly4510 Месяц назад

In Florida, only if you have lived in the same house for 25 years. If you move, you lose that exemption. Which forces seniors to stay in larger homes that may be hard for them to maintain. If they wish to downsize,they are penalized.

@morebaloney1539 6 месяцев назад

Couldn’t agree more-property taxes here in Dayton OHIO are unsustainable and for certain driving us out.

@rockyzman Год назад

I retired to downstate Illinois from Ohio. I looked at housing cost around the Midwest mainly towns I might want to live and found that for a comparable house in downstate Illinois I was looking to paying a good $100,000 less than in other Midwest states more and I wouldn't want to live anywhere outside the Midwest. So even thought property tax was lower elsewhere per assess value it was just as expensive. I do take the homeowners and senior exemption. I plan on talking to a lawyer about taking the senior property tax freeze. I want to make sure I know what I'm signing up for. The license plate tag for over 65 is $10.00 a year and Illinois is one of the 24 or 25 states that doesn't have a property tax on your car. And if I need a bus where I live it's free. I looked at what I spend money on and to my surprise Illinois works for me. Also Illinois doesn't tax any retirement income. Key things here is know what you spend money on and in Illinois don't live in the northern part of the state otherwise it all goes out the window. Having said all that if I had my way I would move back to Ohio even though it would cost more.

@robevans2114 5 месяцев назад

Property taxes pay for schools, parks, etc.. As a results states like AL, LA, MS, AK have the worst education (and healthcare) in the US though retirees might not care.

@Pje3ski Год назад

Florida has no property taxes if you are over 65 and meet certain stipulations, but it’s not property tax free if you are over 65. I would think that most don’t meet the requirements.

@JoshScandlen Год назад

yeah tht was a weird article actually. But stil fun to examine

@sbalak Год назад

Can you clarify? What are the stipulations? Also your statement is a bit confusing since you say 2 different things. Stipulations to meet if over 65 and then you say not free if you are over 65.

@gardengal9478 Год назад

It really makes me ill when I pay our property taxes in South Jersey. Born here 64+years ago and this carpetbagger gov says “if you don’t like the taxes in NJ then it’s not the place for us”!😤 Praying that our daughter can beat this horrid cancer so we can move to TN in a few years 🙏🏻

@JK-ld8cd Год назад

moved out of NJ to PA 20 years ago cut my taxes in half. Dont miss it one bit!

@JoshScandlen Год назад

Just sent a quick prayer your way... blessings to your daughter!

@gardengal9478 Год назад

@@JoshScandlen thank you! Prayers are greatly needed and appreciated

@dancasey9660 Год назад

Most of my property tax (about 2/3) is for the local school district. It's Lake County Illinois. For a very average home it runs about $9600. Right now Illinois doesn't tax Social Security, or retirement savings. Lake County is nice, and I try to avoid going into Chicago these days. Don't mine paying the taxes for the school district as I think maintaining a good school district for future generations is important, but not really sure what they are teaching these days. My kids are long out of the school district. So I'll leave it to the current parents to express what they want their children to learn.

@Madamjonibee 4 месяца назад

You didn’t mention the only blue spot in the Rocky Mountains! It’s probably Teton County in Wyoming with Jackson Hole.

@Laborkei Год назад

Cobb County Georgia is Fair... I just pay Police and Fire, "No Public Schools in my Bill", etc...

@JoshScandlen Год назад

yeah, but who wants to live there?

@wvtaco4379 Год назад

In West Virginia, property tax is what is paid on cars, motorcycles, ect. Real Estate tax is what is paid on real property. In 2024, property tax will be a credit towards your state income tax.

@owen33333 4 месяца назад

$4500+ per year in FL for me, 66 years old!

@natal777 Месяц назад

Same here and my house is only 1800 Sq ft. and I am 72 years old

@OB17358 3 месяца назад

In Hawaii the property tax is low. And there are property tax deferments for elders, payable upon death. The cost of living, housing, utilities, food etc. is very high.

@richardneff488 Год назад

Can you clear up Florida. Im 62 this year. Thanks Rich

@natal777 Месяц назад

you will still pay the same tax at 65 but you may get a extra 50K deduction off the assesed value of your home if your income is below a certain amount that is it

@jivefive99 Год назад

Given enough time and change, I suppose someday, somehow, people will consider such places as AL and MS to retire to ... long, long, long into the future. I like my Chicago ambulance response times. :)

@MarcP5267 Год назад

We live in NJ and our property taxes are good for us, $6500. Yes higher than a lot of people here but it’s budgeted in our retirement and we will be good. We could never move away from our kids and future grand children.

@stevewhite4231 Год назад

Could not agree more. I live in NJ as well but mine are 12K

@JK-ld8cd Год назад

@@stevewhite4231 moved out of somerset area NJ 2002. My 1700 SQ ft house was at $9500 taxes. I cant imagine what it is now 20 years later? Moved to PA, so much better!

@JoshScandlen Год назад

I hear you mark. That's why the VAST majority fo people who move don't move to a new state.

@johnnyadams1755 Год назад

Very misleading, tax reduced is not tax free state.

@CalmerThanYouAre1 Год назад

This is the way! For every $500 of monthly property taxes you eliminate, you open up the cash flow that would otherwise require $150K of portfolio value. ✅

@JoshScandlen Год назад

great point, FOR ONCE, Thomas!

@CalmerThanYouAre1 Год назад

@@JoshScandlen 🤣🙏🏻

@gbinman 4 месяца назад

I pay way more income tax than property tax. I moved from CA to TX in 2005. What I save in not paying CA income tax (TX has no state tax) I save thousands each year. I am in a different situation than many, I retired at 54 with a 6 figure retirement, so income tax hits me harder than most retirees. After almost 20 years I still love Texas. I moved to Texas mostly because it matches my politics more than most. If you move here from other states and have different politics stay out, we don't want you. Your report is babble, you should organize what you plan to say rather than babble.

@jorasparents Год назад

Please pray for us in NJ lol

@diamond6256 22 дня назад

ALL states should exempt all Seniors for Property Tax due to lower income as Retirees. It is bad enough with home owner insurance as an equal amount, how are we suppose to maintain and fix our property. I know at 68 it costs me $9,000 a year in property tax and house insurance, with little to maintain my home and that is why I may have to sell due to lower Retirement income and having to pay not just City tax but county. Even worse paying property tax not on purchase price once PAID off, but sell value when I have NO intention of selling unless I cannot afford the taxes and insurance. SAD.

@uslasis Год назад

That might be the state's property tax rate. But, you might have to add City, County, School District, Road & Bridge and Bond Rate Tax. Those can eat you up.

@JoshScandlen Год назад

did you even watch the video?

@rjh2772 5 месяцев назад

If it’s not the taxes that gets it will be the high humidity and bugs in the Southern States

@Linda-ic1il Месяц назад

I live in Florida with a huge screened Lani with a pool, I am loving the South!!!!!

@rjh2772 Месяц назад

@@Linda-ic1il Florida sucks enjoy the high property insurance and taxes

@kopsie6379 25 дней назад

Delaware "Where sleepy Joe is from" 😂

@a012345 Год назад

South Dakota property tax is already so low that it won’t be a game changer.

@JoshScandlen Год назад

I dont think SD property tax is low, is it?

@a012345 Год назад

@@JoshScandlen Like 1.2% or so, but so many low priced properties. Hawaii is low, but even some condos go for 800k. All relative I guess.

@ghostl1124 3 месяца назад

Bath County, Kentucky only $667. Woo Hooooo ! 🐶

@sharondunn6513 7 месяцев назад

"Sniffy Joe" LOL!!!

@johngalt4657 17 дней назад

ABOLISH PROPERTY TAXES!!! YOU OWN YOUR PROPERTY YOU DONT RENT IT. YOU SHOULD NOT HAVE TO KEEP PAYING FOR SOMETHING THAT YOU OWN.

@TedH71 Месяц назад

West Virginia is cheap for a reason. Lots of high rates of drug abuse. My best friend's bio family is from there.His 2 nephews are meth addicts.

@theodfw Год назад

I live in the Dallas, TX area (Collin county), and pay $6000 for a $370K house (1.6%), but the TX legislator is working hard to reduce it for everyone, especially seniors. I have made the decision that other good things about TX outweigh it being one of the states with the highest property tax.

@cod88188 Год назад

The state of TX does offer some relief of an additional $10k (on top of the base $40k) and protection from increasing property taxes after age 65 on one's homesteaded property.

@benton-benton 10 месяцев назад

Franklin county suburb of Columbus Ohio. $6000 on $185,000 house. It's hideous here and will get worse in January 2024. They say they are working on a program for seniors, but doesn't look like it's getting very far as of now.

@somedude12348 10 месяцев назад

Fun fact, Vermont has the highest gun ownership per capita and is Bernie Sanders-level liberal. It's hard to get past the political commentary.

@Linda-ic1il Месяц назад

Born and raised in Florida. Everyone has property taxes no matter what.....I do not no where you are getting your false info from...

@allenanderson3649 Год назад

Fix your volume

@JoshScandlen Год назад

You have this thing called a volume control. Crazy right?

@allenanderson3649 Год назад

👋

@MarcP5267 Год назад

I get it but I could never live in those states. I’m a north eastern boy and this is where we are staying. All family are up here.

@denny5564 Год назад

open a business and cheat !

@Stiglr 5 месяцев назад

Unfortunately, I wouldn't be caught dead in almost any of those states. They're just not an option, culturally or politically.

@JoshScandlen 5 месяцев назад

Ironically, they don’t want you either. Amazing how that works.

@Stiglr 3 месяца назад

@@JoshScandlen Yeah, bigotry and ignorance are powerful forces. And it isn't ironic, it's coincidental. ☺

@johngarceau541 2 месяца назад

You travel much? You seem ignorant of the facts

@tpowell3776 27 дней назад

The never ending need to be a "victim" is pathetic at this point...

@MrSteeDoo Месяц назад

"jabby-jabs" What an immature child.

@Lianne459 Год назад

Mississippi, West Virginia and Alabama have the highest poverty and the lowest education in all 50 states. Same for healthcare and services. The home prices are low because they are backwater places with no quality of life. If you want to live there, go for it.

@JoshScandlen Год назад

try not being racist, next time.

@markdavis1116 Год назад

Never been to the gulf coast have you?

@knuckleuprambo Месяц назад

Wtf @@JoshScandlen

@thud9797 14 дней назад

Lianne is totally clueless. The Gulf Coast is a beautiful place to live and retire and has everything retirees want and need as well as generally low taxes and cost of living.