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Vol III  Issue 6                    February 10, 2008

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Low Tax Rates, Dropping Housing Prices and Excellent Health Care are Reasons Why Retirees Who Come to Vegas, Stay in Vegas

 

 

Cost of Living:   Above the U.S. National Average

Does it get hot in Vegas?  Indeed it does.  Summer temperatures can easily reach 105 degrees, but as in other desert cities, air conditioning is everywhere.  The city is surrounded by mountains, so escape from the summer heat can also be found at higher elevations.  During the winter months, temperatures average a pleasant 58 degrees, with lows dipping into the 30s.   It practically never rains (3 inches on average a year), and the sun shines nearly every day.  Humidity averages a mere 20% in the afternoons.

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Nevada has the lowest overall tax rate in the country. There is no state personal income tax, gift tax, inheritance tax or estate tax; property taxes range from $2.03 to $2.93 per $100 of assessed value, with homes assessed at 35%.   The average annual tax on a $250,000 home is between $1,785 and $2,983.  For lower income seniors (age 62+), there is a tax rebate program.   The overall cost of living is roughly 6% higher than the national average, even with housing prices dropping, but utilities and car insurance are less than the national average. 

Volunteer opportunities are plentiful, and many are listed each Sunday in the local newspaper.  Vegas has a dozen or more senior facilities and centers that provide everything from health screenings and  nutritional seminars to legal advice and transportation.   The Senior Citizens Center of Las Vegas (702-229-6454) is an excellent resource, as is the Las Vegas Seniors' Guide, a local publication that lists many, many senior services.

 

Health care is top-notch, with 13 hospitals and/or medical centers and nearly 7,000 doctors in the city.  Care4Life is an accredited service that provides in-home health care and assistance to caregivers.  At Home Caregivers, LLC is a company that provides medication reminders, offers transportation and companionship and helps with pets and housekeeping, etc.   Senior Support Services (702-617-4470) provide similar services.  

CAT (Citizens Area Transit) is the local bus system, but there are also shuttles and trollies for getting in and around the Strip.

Golf is a way of life, with more than forty courses in and around town offering plenty of tee times.  To many residents, though, one of the primary reasons to retire here is the stunning surrounding desert hill country.   Big horn sheep graze outside of town, and two sandstone geological parks, Valley of Fire and Red Rock Canyon, bookend the city, drawing nature lovers and tourists from around the country.   The Lake Mead National Recreation Area is a water-sports Paradise with 822 miles of shoreline, attracting boaters, campers and nature lovers year-round.  Even the Grand Canyon is within a day's drive.

There are, however, drawbacks to retirement in Vegas.  The heat may be too intense for some, even if it is a dry heat.   The crime rate is high, nearly twice the national average, but the majority of this crime occurs near the Strip and consists primarily of thefts and burglaries.  The entire western United States is in a drought, and according to a recent study by the University of California at San Diego, Lake Mead, mentioned above, which is a key water source for this area, has a 50% chance of drying up by the year 2021.   That would not be a good thing.

Between 1990 and 2000, the over-65 population in the Las Vegas metro area grew 86 percent, from about 99,000 to more than 184,000, because retirees find just about anything they want in Las Vegas; life can be as quiet or active as one chooses to make it.   Generally speaking, retirees who come to Vegas, stay in Vegas.


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