****Hi there retired, looking at Bangor ME as possible retirement location

[folkguitarist555]

Troubled by the cold, snowy and long winters there, and the high utilities costs, such as heating and etc. Along with tax on cars as well, as high property taxes, and etc. Seems like in the end, it may be a rather expensive place to live.

[IHeartMaine]

Originally Posted by starrider434

Troubled by the cold, snowy and long winters there, and the high utilities costs, such as heating and etc. Along with tax on cars as well, as high property taxes, and etc. Seems like in the end, it may be a rather expensive place to live.

If you are on a tight budget.....Maine might not be the place for you.

As far as the weather goes.......everyone East of the Mississippi has had a miserable winter!

[FireFromIce]

Originally Posted by starrider434

Troubled by the cold, snowy and long winters there, and the high utilities costs, such as heating and etc. Along with tax on cars as well, as high property taxes, and etc. Seems like in the end, it may be a rather expensive place to live.

If you are retired military, the first $6000 of pension income is exempt from state taxation. Then there is the $6000 property tax exemption for those veterans 62 and over who served during any federally recognized period of hostilities. Then there is the $10000 "Homestead Exemption" if you buy and live in a house in Maine for at least a year. Those retired military members who are eligible for Tricare Prime may enroll in the US Family Health Plan which is run by Martins Point Health Care in Portland and accepted everywhere in Maine. This may be the BEST of the Tricare Prime options.

As I get closer to retirement I have focused my real estate searches to a 20 mile radius of Bangor. Housing is very affordable up there.

[folkguitarist555]

Yes this seems true I have seem many affordable homes for sale outside of Bangor. There are other states though, that I think give vets a full exemption on property taxes (Texas, Florida), or like up to $100,000 of assessed home value (South Dakota) and etc. Not sure if Maine's deals are that great though. Concerned also about high heating costs during long winters there too. Seems like the overall benefits for vets, are similar to NY state, meaning not much.

http://www.kiplinger.com/tool/retire...20&state=Maine

http://www.kiplinger.com/tool/retire...&state=Wyoming

http://www.kiplinger.com/tool/retire...42&state=South Dakota

[Submariner]

Originally Posted by starrider434

Yes this seems true I have seem many affordable homes for sale outside of Bangor. There are other states though, that I think give vets a full exemption on property taxes (Texas, Florida), or like up to $100,000 of assessed home value (South Dakota) and etc.

I think they require the 'vet' to be over 65, and 100% disabled. There is usually a clause for blind vets also.

Among the community of vets, it is a very small sub-group that qualifies for the higher exemptions.

... Not sure if Maine's deals are that great though. Concerned also about high heating costs during long winters there too. Seems like the overall benefits for vets, are similar to NY state, meaning not much.

If I were single, looking at the lower Deductions/Exemptions offered to singles, than I might have to begin paying income taxes in Maine. So that is a consideration for singles. Fortunately in my case, I am married.



When we lived out West, I remember seeing that some states offer benefits that are triggered by either: 35% disability, or 50% disability.


I certainly do not grudge anyone who has those levels of disability. They are in our prayers.

I am thankful that I do not have disability of those levels [yet].

[folkguitarist555]

even at 100 disabled, Maine seems to offer very little as far as excise or property tax breaks, but they seem to have enough to give to all the refugees they take in from overseas and house and feed....imo, but hardy anything for disabled vets.

[Submariner]

Originally Posted by starrider434

even at 100 disabled, Maine seems to offer very little as far as excise or property tax breaks

I have owned a number of other properties before moving to Maine. I had not experienced such low property taxes, previous to moving here. So from my perspective, living here is a great deal for everyone, including vets.

... , but they seem to have enough to give to all the refugees they take in from overseas and house and feed....imo, ...

I think you are confusing state with federal.

[folkguitarist555]

I am done, no more need for this thread, have chosen to not consider Maine as a potential retirement...thanks for all the help...