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Affordable Historic Homes are
Highlight of Graceful Princess Anne, Maryland
Cost of Living: Below the National Average
| Named for Princess Anne, the daughter of
Britain's King George II, this quaint Maryland hamlet
(population 2,600) was founded in 1733 and to this day
retains much of its cultural heritage.
Centrally located between Baltimore, Philadelphia and
Washington, D.C., Princess Anne is a romantic oasis
tucked away from the hectic activity of the east
coast. Here seniors find reasonably-priced
historic homes and many of the pleasures of small-town
life, including knowing one's neighbors, buying fruits
and vegetables at the local farmers' market and getting
around town without fighting congestion. Seventeen
percent of the population is aged 45 to 64, and eleven
percentage is aged 65 and above.
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Princess Anne, a gateway to the Lower Eastern
Shore, is listed on the National Register of Historic
Places, and the homes here, dating from the 18th, 19th and
early-20th centuries, are the main drawing card for
retirees. The median home price is $205,000, and
it buys quite a bit of house. Many of these homes date
from Georgian, Federal and Victorian architectural periods,
evoking a more gracious time. Beautiful Victorians
with 2,000 square feet and four bedrooms are for sale for
$175,000. Completely renovated Colonial manors with
four bedrooms and 1,900 square feet are selling for
$195,000. A gorgeous, restored 1920s frame house with
a wrap-around porch and nearly 3,000 square feet is
currently available for $293,000. |
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This is not to say that there are not newer homes for sale,
too. Cute, very comfortable (3 bedrooms, 2 baths)
ranch-style, 1970s' dwellings on an acre of land are for sale for
$145,000. Lovely, new (2005) ranch-style duplexes, which
provide the opportunity for rental income, with 1,800 square feet
are selling for $233,000. Princess Anne has one mobile home
park, Wilson Landing Mobile Home Park, but it is not age
restricted. There are more communities in surrounding
towns. Town homes and condominiums are not plentiful. Residents
pay a property tax rate of $1.91 per $100 of assessed value
(combined city and county rates), and
property is assessed at 80% to 100% of market value, depending on
whom ones asks. Taxes on a $200,000 home would be $3,056 to
$3,820 per year. There is no homestead
exemption. The state sales tax is 5% and the
state income tax is graduated, peaking at 4.75%.
Maryland does not tax social security and has a $21,500 income tax
pension exclusion for those 65 and above. Overall, the state
ranks #17 as the most expensive when it comes to taxes. Princess
Anne, Maryland, Continued....
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