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Retire In Alaska

Maybe retire in Alaska?

If you are looking for an adventure, a retirement community in Alaska may be just what youre 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 is even sending oil profit rebates back to its residents. But dont pack you 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 Alaska 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-70s 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 own plane in about 45 minutes without ever having to climb above 1000 feet.

If you are looking for an adventure, you may want to retire in Alaska!

Here are some things you may want to consider if you would like to retire in Alaska:

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.

Propety 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 citizens 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 Web site.

But you before you make that final decision on whether to retire to Alaska, 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.

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