Senior Housing Minnesota

If you are looking into Senior housing Minnesota has a lot to offer the outdoorsman/woman. With over 400 golf courses and more than 70 state parks and 4 national parks making it great for outdoor activities like whitewater rafting, rock climbing, fishing and mountain biking to name just a few. There are over 1 million acres to explore along with 1200 miles of canoe routes.

As for healthcare, Minnesota is also home to the University of Minnesota in Duluth and the Mayo Clinic in Rochester, both are renowned for their medical research and patient care.

If you enjoy the amenities that city life has to offer, Minneapolis-St. Paul has a variety of activities with some very affordable housing. There are world-famous theater and orchestra performances along with an abundance of arts and cultural entertainment. The Twin-Cities offers more than 30 theaters and close to 100 theater companies presenting a wide range of cultural entertainment from serious dramas and Broadway productions to cabarets, farcical ballets, avant-garde performances and children’s theater. Nationally, the area is second only to New York City in the number of theater seats per capita. There are also 20 classical music groups and 10 dance groups based here. If you enjoy shopping, the Mall of America is located just outside the Twin Cities in Bloomington. It’s the largest Mall in the US with over 500 stores.

Duluth is located along the shores of Lake Superior, the world’s largest freshwater lake which dramatically affects the weather patterns in surrounding areas; in Duluth, that means warmer winters and cooler summers.

One of the best “Healthy” places to retire is Eden Prairie, a suburb of Minneapolis. There are 100 miles of well-maintained trails circling dozens of small lakes and ponds that dot the town. The city preserves 20 percent of its land for open space; it has 37 parks and 1,000 acres of developed parkland.

The Cons:

The winters are notorious for being harsh and the summers are quite muggy.

About half of all states, as well as the District of Columbia, do not tax Social Security benefits, Minnesota, however, is not one of them. Keep this in mind if you are searching for senior housing Minnesota, you'll pay Minnesota income tax on the amount of Social Security benefits that are subject to federal income tax. However, Railroad Retirement benefits are exempt from state income tax.

Just remember when searching for senior housing Minnesota, be sure to weigh all of the pros and cons and be sure to visit the area at least twice, once in the summer and then again in the winter before making you decision.

Median Home Price: $159,120

Personal Income Tax: Yes
Minnesota has three state income tax rates: 5.35 percent, 7.05 percent and 7.85 percent.
For single persons, heads of families and married persons filing separate returns:
-- 5.35 % for income earned up to $22,480
-- 7.05% for income earned between $22,481 and $73,830
-- 7.85% for income earned over $73,830

For married persons filing joint returns:
-- 5.35% for earned income up to $32,860
-- 7.05% for earned income between $32,861 and $130,540
-- 7.85% for earned income over $130,540

Sales Tax: Yes
General Tax Rate is 6.875%.
--As of July 1, 2008, an additional 0.25% Transit Improvement Tax was phased in across five counties in the Minneapolis-St. Paul metropolitan area for transit development. These counties are Hennepin, Ramsey, Anoka, Dakota, Washington, bringing the taxes in these counties to 7.125%..
--St. Paul imposes an additional 0.5% for a total of 7.625%
--Hennepin County imposes additional 0.15% to finance the Minnesota Twins new field bring that total to 7.275% for the parts of the county outside of the city. However, parts of the county that are inside the city limits of Minneapolis have the increased 0.5% bringing the total in that area to 7.775%

Property Tax: Yes
Each county has its own millage rate that is used when determining property taxes. Some cities also assess separate property taxes. Homestead exemption is available.
Minnesota does provide a Senior Citizen Property Tax Deferral program that enables seniors who have trouble keeping up with payments to defer a portion of their taxes. It is not, however, a tax reduction, but rather a low-interest loan program that provides for a lien on the property.

Inheritance Tax: No Estate Tax: Yes

These are just some of the things you may want to keep in mind when searching for senior housing Minnesota.

For More Information: Contact the Minnesota Department of Revenue website