Thaxter graduated from Morse High School in 1955 where he was an outstanding player for the Shipbuilders. He attended Husson College and played basketball there for Del Merrill, graduating in 1961. After college, Thaxter coached basketball at John Bapst for four years. His career took him to Cleveland where he served as President and Head of Basketball Operations from 1985 to 1989. He more recently served as the Exec. Director of the Maine Sports Hall of Fame.