Lower Taxes for a Better Life

February 9, 2023

What Homeowners Want

A homeowner looking to relocate may have plenty of reasons for doing so. Some are looking for a better location, others want to move closer to relatives and family. However, one of the most popular reasons for moving to a different location is tax rates. When the cost of living is lower, you have more options for ensuing lifestyle choices. For 2023, North Carolina still has one of the lowest tax rates in the country.

Low Taxes for a Better Life

When your taxes are lower, there is an overall impact on quality of life. The less you must pay in taxes the more money you have in your pocket. The more money in your pocket, the less worry you have in your life. And that means there is more time to focus on what really matters, such as enjoying your Coastal Carolina lifestyle.

The Numbers

Currently, as of the beginning of 2023, North Carolina is still determined to be one of the lower taxed states in the country. North Carolina has a flat tax rate of 4.99% according to official sources like taxfoudnation.org. The Old North State also has a 4.75% state sales tax rate, a local sales tax rate of 2.75%. Combined, that’s a local tax total of 6.98%. The ranking for North Carolina is 11th overall according to last year’s State Business Tax Climate Index.

North Carolina: Still Optimal for Retirees

Sources like bankrate.com also poll North Carolina in the top 50 best states for retirees as of 2022. North Carolina was awarded this prestigious position based on its rating for cost of living, taxes, health care quality, culture, crime, well-being, and weather. North Carolina also has no inheritance tax or estate tax. Homeowners that are 65 years and older can also choose between multiple property-tax relief options.

In terms of the greater Wilmington area itself, reports in 2013 from the American Chamber of Commerce, the cost of living here is at least 1.4% below the national average. The Leland area in which Brunswick Forest resides has some of the overall lowest property taxes in the Southeast. You will be saving more money while enjoying your time living in the Coastal Carolina area to its fullest extent.

See How Coastal Carolina Can Enhance your Life

To conclude, if you’re looking to live your best life on a fixed income and want more time to enjoy what Brunswick Forest and the surrounding area has to offer, Coastal Carolina is one of your best options for low taxes and a better lifestyle. Looking to get a taste of the Carolina side of life but not sure where to start? Consider booking a Coastal Discovery Tour from our real estate team or contact us at 833-497-1001 for more information. You can also check out our facts sheet.