Considering An Ohio Retirement Community?

Every year, more and more of Ohio’s retirees are choosing an Ohio retirement community to spend their retirement years.



As a result, more and more retirement communities are popping up all over the state. There are plenty of outdoor activities on the many lakes and rivers. There are miles and miles of hiking and biking trails as well as over 800 golf courses.

Although finding a resort style, luxury, Ohio Retirement Community may be difficult, there are quite a few age-restricted communities with villa-style homes, town homes and condos being built with some wonderful amenities. In the center of the State, is Columbus which was recently named by Newsweek Magazine as one of the best cities in the U.S. in which to live and work. Home to Ohio State University, this culture rich city boasts a ballet, a symphony, an opera and many wonderful art museums.

Many of the cities in Ohio have changed over recent years. They are no longer the “industrial cities” they once were. Cleveland, in northeastern Ohio, has become revitalized spending over $100 million on a beautiful waterfront district including several residential communities. World class museums, great restaurants and professional sporting events are only a few of the many attractions.

Nearby Oberlin has been considered by many to be one of the best small retirement towns in the nation. Here, Retirees can enjoy a charming setting with an affordable cost of living, a low crime rate and quiet residential neighborhoods with tree-lined streets that are just a short distance from the shores of Lake Erie.



Southwest of Cleveland, in the heart of the Amish farmland you’ll find the small town of Wooster in Wayne County. Known as the "Gateway to Amish Country," this area is home to the world's largest Amish population. Famous for their beautiful quilts and high-quality craftsmanship, the Amish people are also known for their peaceful ways and timeless lifestyle. There is a large number of restaurants, shops and stores that feature authentic Amish products, from food to furniture.

With a population of a little over 300,000, Cincinnati, in southwestern Ohio was listed by Money Magazine in 2006 as one of the best places to retire. It is Ohio’s third largest city and overlooks the Ohio River. The city enjoys a rich cultural history, particularly in choral and orchestral music, dating from German settlement in the nineteenth century.

So what are the cons to choosing an Ohio Retirement Community? Besides Ohio's harsh Midwestern winters, residents of Ohio have gone from being some of the least taxed in the 1970s to some of the most heavily taxed today, climbing 38 places from 45th highest in 1977 to 7th highest in 2008. Military retirees will soon be seeing somewhat of a tax break. Legislation was passed in 2008 that will exempt military pensions from state income tax.

Median Home Price: $122,384

Personal Income Tax: Yes
Ohio collects income taxes from its residents at the following rates:
-- 0.649 percent on the first $5,000 of taxable income.
-- 1.299 percent on taxable income between $5,001 and $10,000.
-- 2.598 percent on taxable income between $10,001 and $15,000.
-- 3.247 percent on taxable income between $15,001 and $20,000.
-- 3.895 percent on taxable income between $20,001 and $40,000.
-- 4.546 percent on taxable income between $40,001 and $80,000.
-- 5.194 percent on taxable income between $80,001 and $100,000.
-- 6.031 percent on taxable income between $100,001 and $200,000.
-- 6.555 percent on taxable income of $200,001 and above.
*Several cities also levy municipal income taxes.
*Ohio also has a school district income tax, a levy that is separate from federal, state and municipal income taxes.

Sales Tax: Yes
*The state sales tax rate is 5.5 percent.
*Counties and regional transit authorities also may levy sales tax in multiples of 0.25 percent up to a maximum additional tax of 1.5 percent. The total combined rate cannot exceed 8.5 percent.

Property Tax: Yes
A 10 percent property tax rollback on most commercial and industrial real property was eliminated in 2005. However, the rollback remains for residential and agricultural real property.

Inheritance and Estate Tax: No

For More Information: Contact the Ohio Department of Taxation website

If you are considering an Ohio Retirement Community, make sure you do your homework and be sure to visit several of the Ohio Retirement Communities before you make that all important decision on where to spend your golden years.

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