The Hometown Mississippi Retirement Program named Natchez as one of its 21 Certified Retirement Havens. Retirees are finding Mississippi's mild climate, welcoming communities - and best of all - her tax breaks and affordability, very attractive!
Linden Majestic tranquility and true Southern Hospitality. Linden has been in the same family since it was built.
Devereaux Shields House Two beautifully appointed rooms surrounded by carefully manicured gardens. Aunt Clara's, an 1870's home, offers 4 more just across the street.
Popular retirement destinations like Florida and Arizona that appear to have a low cost of living for retirees actually may be relatively expensive when income, property and sales taxes are taken into account. Unlikely states like Mississippi, which also offer a mild climate and welcoming communities, are fast becoming home to new retirees frustrated by the high cost of living in some of the more traditional retirement destinations.
According to a tax assessment study by Kiplinger's Personal Finance, Mississippi ranks sixth in a list of the top ten most affordable states for retirees when income, sales and property taxes are considered. Of the Sunbelt states, Mississippi ranks first.
Mississippi's retirees enjoy no state tax on qualified retirement income. Social Security is not taxed in the state of Mississippi, regardless of total income. Other sources of retirement income, including IRAs, 401s/403s, Keoghs and qualified public and private pension plans, are all tax exempt. ( Federal taxes apply, however, as they would in any other state).
Items such as residential water, gas and electricity, prescription drugs, payments to Medicare and Medicaid, health care services and motor fuels are not taxed by the state. Retirees living in Mississippi also receive a break on property taxes, and there is no intangible property or gift tax.
Taxes on a $100,000 home with homestead exemption for someone under 65 are $1,085, but $347 for someone over 65. The Mississippi Development Authority's tourism divisions lists the average cost of a house in Natchez at $76,750.
Sixty-nine-year-old Ralph LeMay retired from the International Paper Co. in 1999 and said he and his wife, Carole, enjoy Natchez for different reasons.
"I am an outdoors enthusiast and enjoy hunting and fishing, which Natchez and the surrounding area provide a lot of," LeMay said. "My wife was a history major in college and Natchez is steeped in history so she's happy here."
Coming from Lansing, Michigan, Carl and Sue Ann Wilt have lived in Natchez for just over a year, but their trek here began over 20 years ago when they were looking for a place to visit and saw an article about the Natchez Pilgrimage.
"We came down for Pilgrimage and fell in love with what we saw. Carl says it did feel like coming home for them. We were greeted warmly by strangers on the streets and by shopkeepers. We visited periodically until 1992 when we started visiting once or twice a year. In 1995 we contacted the Natchez Retiree Partnership and a realtor and in 1996 bought our Natchez home, with plans to rent it until our retirement. We bought a Michigan personalized license plate "NATCHEZ" which we proudly displayed. A wonderful bonus was that because of the lower cost of living in Natchez we were able to retire 5 years sooner than if we had stayed in Michigan."
To see more about retirement in Natchez, go to NatchezRetirement.net.
Pamper Me Please Natchez' complete day spa features hair styling, cosmetics, manicures and pedicures, massage, wraps, and more! Check their website for Bridal Specials.
Historic Oak Hill Inn One of the most architecturally significant antebellum homes in Natchez, now an award-winning bed and breakfast. Phone 601-446-2500.
Bluff Top Bed & Breakfast A beautiful and quaint Queen Ann home with one of the most beautiful views of the Mississippi River.
Locust Alley Suite This suite is right on Main Street in downtown Natchez, with a private entrance and a walled courtyard. Phone 601-392-9046.