Retire in Paxton, FL: taxes, health care and cost of living
Paxton, FL has about 686 residents, and 23.5% are 65 or older. The median home value is $171,200 and the median rent is $860 a month. The nearest hospital in our directory, North Okaloosa Medical Center, is 22.1 mi away in a straight line. Florida: no state income tax.
Retire in Paxton is presented by: this spot is open for one local business.
Health care near Paxton
- Nearest hospital: North Okaloosa Medical Center, 22.1 mi in a straight line.
- Nearest urgent care: Crestview Urgent Care / Walk-In-Clinic, 22.2 mi.
- 0 pharmacies within 5 miles.
Paxton compared with nearby towns
| Town | Population | Median age | 65 and older | Median home value | Median rent | Income, 65+ households | Nearest hospital | Pharmacies within 5 mi |
|---|---|---|---|---|---|---|---|---|
| Paxton | 686 | 50.8 | 23.5% | $171,200 | $860 | $36,071 | 22.1 mi | 0 |
| Laurel Hill | 355 | 43.8 | 24.8% | $117,900 | $742 | $45,625 | 16.7 mi | 0 |
| DeFuniak Springs | 6,532 | 31.6 | 16.2% | $201,400 | $1,024 | $36,250 | 3.6 mi | 0 |
| Crestview | 28,773 | 31.7 | 11.2% | $277,900 | $1,366 | $59,268 | 1.3 mi | 1 |
Taxes for retirees in Florida
Florida
No state income tax
- Florida has no individual income tax, so Social Security, pensions, IRA withdrawals and military retirement pay are not taxed by the state.
- Thrift Savings Plan (TSP) distributions are not taxed by the state.
- Homeowners can claim a homestead exemption. Some counties and cities add an extra exemption for residents 65 and older with household income under a limit set each year ($38,686 for 2026).
- Veterans with a 10% or higher combat-related disability can get up to $5,000 off assessed value; totally and permanently disabled veterans can get a full homestead exemption.
The real costs, honestly
Insurance and storms come first. Homeowners and flood insurance can cost more here than the property tax, and a standard policy does not cover flooding. Get quotes before you make an offer, check the flood zone and learn your evacuation zone.
FEMA flood maps · FloodSmart (National Flood Insurance Program) · Ready.gov: hurricanes
Local dentists for retirees on the Emerald Coast
An active retirement near Paxton
Emerald Coast Fishing Beach Romance Reads Visitor guides Events in Paxton Golf coursesLibraries Paxton news
Your moving checklist
- Driver's license and car registration with Florida Highway Safety and Motor Vehicles
- Register to vote at Register to vote in Florida
- Medicare plans change by ZIP code: compare them at Medicare.gov, or get free one-on-one help from your state's SHIP counselors
- Find a new doctor before you move: many practices have waiting lists for new patients
- Save your county emergency management page and sign up for its alerts
Already retired here?
Help the next family decide. We publish short answers from readers after an editor reviews them, never with your address.
- Why we moved here: what you love, what surprised you and what you would tell a friend.
- Ask a local: send a question and we will answer it on this page or in a story.
- Add a club or class: free listing in our events calendar.
Retirement news and guides
- Senior centers and free programs for retirees in Okaloosa, Walton, Santa Rosa and Bay
- Choosing a hospital on the Emerald Coast: what Medicare’s Care Compare shows
- Hurricane prep for new Emerald Coast retirees: evacuation zones and special needs shelters
- Medicare help on the Emerald Coast: free SHIP counseling and plans that change by county
- Homestead and senior exemptions for Emerald Coast retirees: how to apply by county