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Active Retirement
Real Estate for Retirement
Active Adult 55+
Master Planned Communities
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| About 30 miles
southwest of Austin, along the headwaters of the
clear, cool San Marcos River, there is a land of rolling hills
and prairie farmland. Here, on the edges of
the Texas Hill Country, the amiable city of
San Marcos (population 51,000) makes its
home. Considered to be the oldest,
continuously inhabited area in the Northern
Hemisphere, this region was first home to a Paleo-Indian
Clovis culture and then visited by
Spanish explorers and settled by Mexican families. In
1846, the first Anglos arrived, and soon the
fledging village of San Marcos (pronounced
"San Marcus") prospered as a cattle-raising
and cotton-producing hub. |
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The addition of what-was-to-be
Texas State University (30,000 students) in 1903 furthered
the city's growth, and today this unpretentious metropolis
receives great reviews for its gentle way of life,
surrounding beauty, cultural diversity and affordable
living. Of the population, 11% is age 45 to 64,
and 7% is age 65 or above (and a few more
Republicans than Democrats reside here). Many retirees
will appreciate that the median home price of $155,000
contributes to an overall cost of living that is nearly 20% less than the
U.S. national average. San Marcos
has a young population, thanks to the University, but
residents enjoy the vitality of TSU and its students, and
the University provides a solid economic base. The
city is growing, nearly 35% in the last ten years, but
despite its size, it still has a small town charm to
it. Friendly residents willing to lend a hand
and country hospitality make newcomers feel welcome and a
part of the community. In particular, lovers of
BBQ, Tex-Mex food and tasty breakfast tacos will feel right
at home here! And because San Marcos is situated
between two big cities, historic San Antonio (population 1.5
million) and music-loving Austin (population 750,000),
amenities not found in town are never far away. |
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Real estate is a smorgasbord, everything from
older, ramshackle ranch-style homes to lovely new
Mediterranean-style residences. Many homes are built of
brick, and most have mature landscaping, often with shady pecan
trees and fragrant cedar trees. The city has a good
selection of apartment complexes, but many of these are populated
by TSU students. Higher priced units, though, tend to cater
to non-college age residents, and The
Wellington, an elegant, 80-unit, one-story apartment
community, is just for the 55+ crowd. Rents start at $775
for a one bedroom.
This is an
interactive map. Click on the arrows in the upper left hand
corner to move the map to the East, West, North or South, and click on the +/- signs to zoom in
and out.
Texas taxes
are fairly straight forward. The state has no state income
tax, and retirement income is not taxed. When it comes to
real estate, property is assessed at fair market value and taxed at
roughly 2.7%. There is, though, a $15,000 homestead exemption, and
for those homeowners 65 and above, $10,000 (in addition to the
regular $15,000 homestead exemption) of the property's assessed
value is exempt from school taxes, and $3,000 is exempt from other
local taxes. Without any exemptions, annual taxes on a $155,000
residence would be $4,185, which is on the high side
(and is the price paid for having no income or retirement taxes).
San
Marcos, Texas, Continued...
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Great Retirement Spots Newsletter is
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Texas Retirement Active Adult
Developments in Texas Retirement Communities Texas
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