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Woodfin Ranked In Top Ten Towns For Retirees

Staff Report

Woodfin – The Town of Woodfin ranks sixth in the state for places to retire according to an annual study, by SmartAsset. The ranking analyzed sales, property, income, fuel and Social Security tax data to rank locations on how financially favorable they are for retirees. The study analyzes a retiree with $50,000 in annual income to see how much they will pay in income, property, sales and fuel taxes – see the table below for the cities that lead North Carolina in retirement tax friendliness. 

Rank City Income Tax Paid Property Tax Rate Sales Tax Paid Fuel Tax Paid Social Security Taxed? Retirement Tax Friendliness Index
1 Porters Neck, NC $5,543 0.64% $739 $353 Not Taxed 42.31
2 James City, NC $5,543 0.55% $739 $410 Not Taxed 42.10
3 Myrtle Grove, NC $5,543 0.60% $739 $388 Not Taxed 42.01
4 Wrightsboro, NC $5,543 0.60% $739 $399 Not Taxed 41.87
5 Marvin, NC $5,543 0.72% $739 $353 Not Taxed 41.35
6 Woodfin, NC $5,543 0.72% $739 $357 Not Taxed 41.30
7 Half Moon, NC $5,543 0.65% $739 $406 Not Taxed 41.10
8 Silver Lake, NC $5,543 0.64% $739 $415 Not Taxed 41.02
9 Lake Norman of Catawba, NC $5,543 0.65% $739 $412 Not Taxed 41.02
10 Ogden, NC $5,543 0.58% $739 $449 Not Taxed 40.98

You can find more details on the study results and methodology, as well as our interactive map here: https://smartasset.com/retirement/north-carolina-retirement-taxes#northcarolina

 

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