Surprise! America’s wealthy like warm weather and low taxes. That’s the takeaway from IRS data, analyzed by Forbes, on people moving between counties. Forbes looked for counties that the rich are moving to in big numbers.
I’m pretty sure that wealthy or not, most Americans enjoy warm weather and low taxes, but that’s just my own assumption. What I am sure about is the correlation between no state income taxes and the influx of people moving into Florida and Texas. Florida has eight of the top 20 counties in the Forbes list, and Texas has four, which by the way are all located in the Texas Hill Country. After accounting for property taxes, Robert Shrum, manager of state affairs at the Tax Foundation in Washington, D.C., says analysis shows that Texas has the fourth-lowest personal tax burden in the country, and Florida has the eighth lowest.
Top 20 Counties “Where America’s Money is Moving”
As a Realtor and professional gadabout I have developed several theories as to the comings and goings of people in the Texas Hill Country and I would like to share them with ya’ll.
Theory 1.Yankee Baby Boomers are tired of shoveling snow and are ready to move to where the sun shines more than it doesn’t, real estate is cheaper, hard earned retirement dollars go further and there is no state income tax. (See Ted Nugent as the Poster Boy for this Theory) I get a lot of calls from recent retirees from places like New Jersey, Michigan, Washington State and Pennsylvania, looking to make a move to the Texas Hill Country. Yankee or not, Texas and Texans for the most part are generous and welcoming to Texas New-comers.
Theory 2. How many states can you really use to fill in the blank on this bumper sticker?
I wasn’t born in ___________ but I got here as soon as I could
Ohio, New Jersey, Arkansas?…I don’t think so.
Texas seems to be the only realistic answer.
Theory 3. If you’re going to live in Texas, don’t you want to live in the very best part of it? I must admit for disclosure purposes that I was born in Odessa, Texas (a.k.a. great football but not the very best part of TX) and have lived all over this great state, but when I got in a financial position to choose where I wanted to live, I made a bee line to Bandera and the Texas Hill Country. There is a lot of cool stuff to see and do in the Hill Country. Rivers run all over the place so tubing and kayaking opportunities are aplenty. There also seems to be an inordinate number of golf courses to people ratio in the Hill Country so tee times are easy to come by. If you like wine, then you can keep a busy schedule visiting Hill Country wineries and vineyards. Got a Harley? Almost every road in Bandera County is designated a scenic route! The list of things to do in the Hill Country goes on and on as demonstrated on the Facebook site 365 Things to do in the Texas Hill Country I figure there are a lot of native Texans like me that have made and continue to make this migration pattern.
Theory 4. With the advent of the virtual office and virtual commuting, more and more people from all over the world are able to work from anywhere with a good internet connection. I know several people that have moved to Bandera because they can make the commute to work on the internet super highway; and depending on your location in the Hill Country, you can make it to either the San Antonio or Austin airport in one to one and half hours if you have to leave your Hill Country paradise.
Theory 5. I don’t think most folks want to spend their golden years in some crammed housing edition in Dallas, Houston or any other big city teeming with the hustle and bustle. Nope, when you retire from the rat race I think you want to stretch your legs and spread your wings without hitting your neighbor in the mouth with your elbow. That’s right, with age comes your increasing inability to put up with the traffic, noise, crime and all the other fun things the big city has to offer. And where better to take up residence than the Texas Hill Country where the deer are plenty, the land beautiful, golf courses abound and houses far apart.
Well, these are my Top Five Theories for the migration of the wealthy to the Texas Hill Country. If you would like to find out how you can join us in this Hill Country Paradise visit my website http://www.BanderaTexasRealEstate.com or call me at (830) 460-0889 and I will help you find you a great place to call home.