Maybe one of the Alaska retirement communities?
If you are looking for an adventure, a retirement community in Alaska may be just what you’re looking for. Here you will find some of the most spectacular scenery in all of the US. There is no state income tax or sales tax and in recent years it even sent oil profit rebates back to its residents. But don’t pack your bags just yet….
Housing prices have soared in recent years and at $179,304 are well above the national median home price of $151,366. Along with rising home prices are rising property taxes although seniors do receive a $150,000 exemption.
Another downside to one of the Alaska retirement communities is of course the climate. The climate in the interior of Alaska, including Fairbanks, may have summer temperatures in the 80s or 90s but winter temperatures may fall to -40 or -50 degrees F.
In the Anchorage area, including Kenai Peninsula and Prince William Sound, summer temperatures are in the mid-70, and winter temperatures may fall as low as -20 or -30 degrees F. for short periods.
The clearest weather is in the spring and early summer. Late summer and fall are the rainy seasons. In winter, the heaviest snow falls in the coastal mountains, where moist air off the Gulf of Alaska meets the cold northern air with the area around Valdez seeing the most snow.
But, for some, the fabulous mountain and glacier views in places like Homer, Alaska is just too much to resist. The climate here is quite mild for Alaska, Salmon fishing is second to none and there is a local airport where you can catch one of the four daily commercial flights to Anchorage or you can make the flight in your plane in about 45 minutes without ever having to climb above 1000 feet.
Is Alaska a good place for retirement?
Alaska may not top everyone’s list of best places to retire but if you are looking for a real adventure in your golden years, you may want to retire in Alaska!
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Here are some things you may want to consider if you are thinking about one of the Alaska retirement communities:
Median Home Price: $179,304
Personal Income Tax: No
* Alaska is the only state that does not collect state sales tax or levy an individual income tax on any type of personal income, either earned or unearned.
Sales Tax: No
* Alaska does not charge a state sales tax, it does impose a vehicle rental tax (10 percent on passenger vehicles; 3 percent on RVs), as well as an excise tax of $46 per voyage on passengers traveling on commercial vessels that provide overnight accommodations while in Alaska waters.
* On the local level, 108 municipalities collect a sales tax, with a range of between 1 percent and 7 percent. Typical sales tax rates are 3 percent to 5 percent.
Property Tax: Yes
* Alaska may be the largest state, but only a small portion of the land is subject to a property tax. Only 25 Alaskan municipalities (either cities or boroughs) levy a property tax. The average per capita property tax paid in 2007 in all municipalities, excluding oil and gas properties, was $1,228.
* For its citizen’s age 65 or older and disabled veterans, Alaska exempts the first $150,000 of assessed value from property taxes.
Inheritance and Estate Tax: No
For more information: Contact the Alaska Department of Revenue Website.
But before you make that final decision on one of the Alaska retirement communities, make sure to visit each retirement community at least twice, once in the summer and once in the winter to make sure that it is the right place for you to retire.