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Sunbelt States Finding Solutions for a Swarm of Tax Refugees

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New single family residences being built in Phoenix, Arizona. By Gregory E. Clifford @ Shutterstock.com

The biggest problems in low tax southern states are ones high tax states wish they had, too much growth. Low tax states have become so desirable for movers and retirees that they are now looking for places to put all the people seeking an escape from the city where they can live small, cheap and safe in America.

In The Wall Street Journal, Valerie Bauerlein profiles one town dealing with a mass influx of newcomers who are looking for a better America. She writes of Lake Wylie, South Carolina:

Since 2000, Lake Wylie has tripled in population to 12,000 on the strength of its good schools, low taxes and proximity to Charlotte’s jobs in the financial and technology sectors. But those schools are filling up, the water system frequently fails under increased demand and 20-mile commutes are stretching to 90 minutes.

Now, the town that grew too fast wants to stop growth.

In December, the York County Council, which is led by Republicans, put a 16-month moratorium on commercial and residential rezoning requests and consideration of any new apartment complexes or subdivisions. It is the most comprehensive ban so far in a state where fast-growing cities are temporarily blocking everything from dollar stores to student housing, the Municipal Association of South Carolina said.

“People say, ‘You’re a business owner. Why do you want to stop growth?’” said York County Councilmember Allison Love, a Republican who owns a jewelry store. “But we’ve passed the point of diminishing returns.”

Ms. Love collected thousands of signatures in support of a slowdown, some at community meetings she hosted during rush hour, thinking constituents would attend rather than be stuck in traffic.

The growth of towns in the small-government states of America is a mirror of the decline in the cities and towns of the heavy-tax-burden states where money isn’t respected.

Many of the high tax states just cost too much to retire in, with high cost of living, and high taxes.

If you are living in a high tax state and preparing for retirement, it pays to be flexible. Moving to a low cost, low tax state could save you a lot of money, and improve your standard of living.

Read more about finding the right place to retire in my new series Looking for a Better America.

Originally posted on Your Survival Guy.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.