Utah Retirement

Utah retirement is becoming more and more popular for those retirees who are looking for an affordable, crime-free place to retire. Many of its smaller cities and towns are becoming popular retirement destinations for seniors from many western and mid-western states.

Located in the south part of the state near the Arizona border is St. George. With a population of 50,000, the July/August 2006 issue of AARP magazine the city as one of five “dream towns” for retirement. Here you’ll find top-quality golf courses, a first rate medical center, a community college and even a symphony orchestra. A survey published by Farmers Insurance group recently cited St. George as the most secure city in the country.

About an hour north is St. George is Cedar City. Here you’ll find more of a four-season climate. This city of approximately 22,000 is surrounded by snow-capped mountains and is host to the renowned Utah Shakespeare Festival which is held on the campus of Southern Utah University during the summer and fall. With a below average crime rate and an average home price of under $120,000, Cedar City is quickly becoming a very desirable place for retirees who have decided on Utah retirement.

Travel a little farther north, and you’ll find Herber Valley. Located half-way between Provo and Salt Lake City, the valley consists of several small towns tucked away among the Wasatch Mountains. If you enjoy the outdoors, the valley is surrounded by forests, lakes and streams. Park City, located in Herber Valley is home to three major ski resorts.

If you’re looking for more of a city atmosphere, Salt Lake City may be what you are looking for. The Salt Lake City metropolitan area has a population of just under 1.2 million and was home to the 2002 Winter Olympic Games. There is plenty of great shopping, world class medical facilities, several museums, off-Broadway theater, a symphony orchestra and plenty of public transportation.

Just north of Salt Lake City is the city of Logan. The tree-lined residential street and thriving downtown make this somewhat remote city appealing to many retirees. With a metropolitan population of under 130,000 residents and home to Utah State University, Morgan Quitno recently declared the Logan metropolitan area to be the safest area in the United States.

With its mild climate, affordable housing, reasonable taxes and great outdoor recreational activities, it’s easy to see why Utah is quickly becoming a favorite retirement destination for many retirees. If you think you may want to consider Utah retirement, you may want to visit the area you are considering at least twice, once in the summer and then again in the winter before you make that all important decision.

Median Home Price: $245,000

Personal Income Tax: Yes
Utah has a flat tax of 5%

Sales Tax: Yes
-- 4.70% (prescription drugs exempt)
-- 1.75% on residential utilities
-- 2.75% on food and food ingredients
-- local option taxes may raise the total tax to 7.55%.

Property Tax: Yes
--Property taxes are assessed and collected locally.
--Taxes are assessed at 100% of the fair market value of the property. Low income residential property owners 65 and older can have their property assessed at a lower rate.

Inheritance and Estate Tax:
No Inheritance Tax and limited Florida Estate Tax related to Federal Estate Tax collection.

For More Information: Contact the Utah State Tax Commission website

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