Saint George, UT

Not only do retirees here in St. George get the amazing Arizona weather and scenery, but they also get to enjoy Utah's tax advantages. Taxpayers who are 65 or older at the end of the tax year may be entitled to a retirement exemption of up to $5,700, depending on their income (married couples filing jointly can claim up to $15,000). If purchasing a primary residence, taxpayers may be eligible for an exemption of up to 45% of the fair market value on their property. In 2006, AARP magazine named St. George Utah as one of their "Dream Towns" due in large part to the affordable taxes.

Southern Utah and specifically St. George Utah continues to draw national attention as being one of the most desirable retirement spots in the United States. Many of the prospective buyers are from other states and have questions regarding the tax structure in the State of Utah as well as in Southern Utah. The following information is prepared to answer some of the more commonly asked questions raised by potential home buyers. Since many of the people relocating and retiring to St. George come from California, we have drawn some comparisons with the State of California.

• QUESTION 1: Will I have to file a Utah income tax return if I move to Utah?
  The Utah income tax laws are generally based upon the corresponding Federal Laws. The Utah computation begins with Federal Adjusted Gross Income, and allows itemized deductions, as claimed on the Federal income tax return as well as personal exemptions similar to the Federal methods. In general terms, if you are required to file a Federal income tax return, you most likely will be required to file a Utah state tax return.
  
  
• QUESTION 2: In the year that I move to Utah, do I have to pay Utah tax on all of my income earned during that year even though part of it was earned while I was living in another state?
  Utah tax laws allow you to file tax returns as a part-year resident. The calculation is as follows: Your tax is computed on your world-wide income as though you were a full-year resident and that amount is reduced by the percentage of your income which was actually earned while you were living outside the State of Utah. A Utah resident is defined as an individual who is domiciled for the entire year in Utah or is domiciled in Utah for any period of time during the tax year (part-year resident) or is an individual who maintains a permanent resident outside of the state but nevertheless spends at least 183 days of the taxable year in Utah.
  
  
• QUESTION 3: How do Utah income tax rates compare to other states?
  The maximum Utah tax rate is 7%. Single individuals are taxed at that rate on taxable income more than $4,313 whereas married individuals and heads of household reach that tax bracket at taxable income exceeding $8626. (California's maximum rate is 9.3%, Idaho's is 7.8%, Arizona's is 5.04%.)
  
  
• QUESTION 4: Does Utah tax law provide a benefit for elderly taxpayers?
  Taxpayers under age 65 can exclude up to $4,800 per person of retirement income (pension, annuities or social security benefits which were taxable on the Federal return). Taxpayers 65 years old and older can exclude $7,500 each of income regardless of whether it is retirement income or not. Both of these exemption amounts are phased out for higher income individuals. Married taxpayers making more than $32,000 and single taxpayers making more than $25,000 will lose some or all of these exemptions depending upon the level of their adjusted gross income.
  
  
• QUESTION 5: Does Utah have a sales tax?
  Utah does have a state sales tax varying between 5.75% and 7.75% depending upon the county in which the purchase is made. (the cities in Washington and Iron counties are taxed at either 6 or 6.25%)
  
  
• QUESTION 6: Is it true that California will still tax my California retirement income even though I don't live there anymore?
  This law has now been changed. California can no longer tax non-resident retirees whose sole California-sourced income is from retirement plans. This change was enacted for 1996 and future years.
  
  
• QUESTION 7: Does Utah have property tax and an automobile licensing tax?
  The real estate property tax rates are computed at just over .61percent of the market value of the home for primary residences and approximately 1.1% of the market value of the home for second homes. These taxes are due by November 30 of each year.Automobile fees range between $10 and $150 based on the age of the vehicle.
  
  
• QUESTION 8: Does Utah have an estate tax?
  The Utah estate tax rules are very similar to the Federal rules. If there is a Federal estate tax liability, whatever credit is allowed for state inheritance taxes is the amount that Utah will require to be paid. Therefore, if there is no Federal estate tax liability, there will be no Utah inheritance tax.

If you're ready to take a look at retiring or relocating to St. George Utah, than get in touch with me and see how I can help. I look forward to meeting you!

The Q & A information above is quoted from the St. George Area Chamber of Commerce, excerpted from an article that was provided by Hinton Burdick CPA’s & Advisors, 63 South 300 East, Suite 100, St. George, UT 84770 - Phone: (435) 628-3663 - quoted with permission from Mr. Van Kleinman -- Firm Administrator.

This post is a tribute to a real estate show that I enjoy on HGTV called, "My House is Worth WHAT?". There is something for everyone in the St. George Utah real estate market. From the very affordable to the very luxurious...you will find something here that is perfect for you. And on with the show!

228 N 2040, St George

$175,000 will get you this cute 3 bedroom, 2 bath, double car garage home within walking distance of several schools and shopping. It has a fully fenced backyard with a private gate that opens up to the elementary school playground and walking track. This home was built in 1993 and has 1243 sq. feet. The locals refer to the area this home is in as The Red Cliffs because of the breathtaking views of St. George's signature red cliffs.

1283 BANEBERRY Drive, St George

This beautiful 2369 sq. foot home has 4 spacious bedrooms and 2 full baths. It is on a .35 acre lot with RV parking. There's a beautiful inground pool and plenty of shade trees in the fully fenced back yard. It is located in the Bloomington Gardens area of St. George Utah and was built in 1991. The listed price is $308,000

1358 N Fairway Drive, Washington

This home is on one of the best lots in Green Springs, overlooking the 5th hole of Green Springs Golf Course in the St. George Utah area. It boasts 4880 sq. ft. that include 4 bedrooms, 6 baths, and an entertainment room with a full bar. Granite and travertine throughout the home. There is also a custom pool and 3 fire rings in the private backyard with views of the golf course and Pine Valley Mountain. It was built in 2007 the listed price is $1,395,000

That's it for this edition of "I Can Buy WHAT For My Money?" We'll be back soon with another episode so that you can see what your money affords you in St. George, Utah! Stay tuned!

Here's a handy 10-step checklist for finding a second home

1. Determine how you will you use your second home. Do you want a second home for vacation, investment or retirement purposes?
   
   
2. When researching locations consider climate, cost of living, recreational activities and proximity to your family or primary home.
   
   
3. Choose a location with features that interest you. Do you golf or ski? Do you like hiking and nature trails? Do you enjoy the theatre and the arts? St. George Utah offers all of these amenities and many more!
   
   
4. Determine your ideal travel distance. Can you drive there? Can you afford to fly every time? How close will you be to family and friends?
   
   
5. Purchase your property through a real estate professional that has experience with second homes. The right agent or broker will make your search more efficient and more enjoyable.
   
   
6. Make inquires with visitor centers or chambers of commerce.
   
   
7. Do your research. There are a lot of resources online today, and some even geared specifically to buying second homes. Check out my website, www.relocatetosunnystgeorge.com for information regarding second home properties.
   
   
8. Visit the desired destinations. Eat dinner at the local restaurants, walk through the main part of town, explore nearby parks and outlying communities. We have 360 days of sunshine here in St. George Utah so any time of year is a great time to visit!
   
   
9. Get organized and make sure your finances are in order. Check your credit report and be pre-approved with a lender or lenders of your choice.
   
   
10. Remember to have fun!

I moved to St. George Utah in 1997 and I absolutely love living in Southern Utah. My husband has had several opportunities to relocate and I just won't hear of it. I've dug my heels in and I'm not moving! I love the climate, no smog, 4 National Parks within a days drive, low crime rate, great healthcare and friendly people that live here in St. George. Did I mention it only takes me 5 minutes to drive home, even in "rush hour" traffic?

Let me tell you a little about St. George. It sits in the middle of the greatest outdoor recreation area in the United States. Drive two hours in any direction from St. George and you will find such attractions as: The Grand Canyon, Zion and Bryce National Parks, Lake Mead, Lake Powell and over 40 more national and state parks, recreation areas, monuments, and points of interest. Tuacahn Ampitheatre is a wonderful place to partake of some fabulous theatrical productions with Broadway quality actors. World-Class skiing, snowboarding, golf, hiking, biking, hunting, fishing, and sightseeing await within minutes.

St. George is located within the northern extension of the Mojave Desert. The desert climate leads to generally clear skies, relatively mild winters and hot summers. We enjoy over 300 days of sunshine per year! The temperature varies from a low in January of 27.1 degrees to 102 degrees in July. St. George is 2,880 feet above sea level and the peaks of Pine Valley Mountain reach over 10,000 feet.