mkc Posted January 31, 2016 Report Share Posted January 31, 2016 Great points. I knew full timers would have a different set of criteria. We will own a home, so I'm really more interested in responses from those that do... though still like to hear from those that don't. We are chewing on this issue ourselves. Property/school taxes come into play, as do vehicle registration and personal property taxes. Depending on your personal financial situation, something like the Tennessee Hall Tax (6% on investment income) might be prohibitive (Tennessee is otherwise an income-tax-free state, but the Hall Tax can be an issue). At one point, a few states had an "intangible tax" - a tax on the value (not the realized gains or dividends paid out, but the actual value) of investment holdings. Not sure if any still do but it's something to research as well. Link to comment Share on other sites More sharing options...
richfaa Posted January 31, 2016 Report Share Posted January 31, 2016 Our Domicile is Ohio. We have lived there for a very long time. We like it there and we pay the taxes. We are long timers have spent a lot of time in other States. Example Florida does not have State Income taxes but they tax about everything else. There are some States were I would not choose to be my Domicile like Ill SC and VA based folks we know from those States. Helen and I are long timers ..08 F-350 Ford,LB,CC,6.4L,4X4, Dually,4:10 diff dragging around a 2013 Montana 3402 Big Sky SKP 100137. North Ridgeville, Ohio in the summer, sort of and where ever it is warm in the winter. Link to comment Share on other sites More sharing options...
whj469 Posted February 12, 2016 Report Share Posted February 12, 2016 I have a small ranch in SE Texas where I currently live along with two of my children, their other halfs and five of my 10 grandchildren. I have an ag exemption for the land and because of a modest dwelling and senior, over 65 school tax exemption and homestead exemption, low real estate taxes, $600 per year. I will keep Texas as my domicile because of the low real estate taxes and no state income tax. Sales tax of 8.25% for many of the urban counties and more rural counties my have a 7.25% sales tax which is the case where I live. I find that as we age we don't buy all that much. How much do two old people need? Sales tax can be avoided by buying online if you are careful and there are many ways to get free shipping. As I get older I plan to transfer the small ranch to those children who live there. Health insurance can be an issue for full timers but you can do Medicare with a supplement or take your chance with an advantage plan and hope that you have somewhere that will treat if you are traveling away from your domicile. Good Luck Link to comment Share on other sites More sharing options...
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