Notice that property taxes are MUCH lower in Arizona than in Texas (very high), Florida (high) or California (high).
This is particularly important when you’re choosing where to retire when you’ll be on a fixed income.
But There’s More
In addition to high property taxes, be aware that California and Florida discriminate against new and vacation homeowners.
California Property Taxes: California property taxes are MUCH higher for new homeowners than for people who have owned their homes for awhile. Arizona doesn’t do that. You will pay pretty much the same in property taxes as your neighbors with homes of the same value. So not only do you get a LOT more home for your money in Arizona, you’ll pay a lot less every year in property taxes.
Florida Property Taxes: Like California, Florida has a two-tiered property tax system that hits newcomers and part-time residents harder than longer-term residents. In Arizona, we don’t do that. We treat part-time residents fairly so you will pay the same as your full-time resident neighbors with homes of the same value.
Texas Property Taxes: Crazy high!
Property Taxes Make a BIG Difference
Be sure to pencil in property taxes when estimating your cost of living in different retirement areas.