North Carolina Retirement Communities

Consider this if you're considering any of the great North Carolina retirement communities...



North Carolina is attracting retirees in record numbers. People are looking for the mild winters free from the snow and ice of the northern states.

If you enjoy scenic beauty, the Outer Banks of North Carolina are a beautiful chain of islands that stretch out into the Atlantic and are filled with some of the few natural beaches left in the country.

If great golf is what you’re looking for, North Carolina offers some of the most beautiful and challenging golf courses in the country.

If you enjoy the mountains, there are several cities and towns in the picturesque Blue Ridge Mountains that are very inviting. The city of Asheville, which is quickly becoming a retirement hotspot, has great scenery and holds an attraction for the arts. And then there are small villages like Brevard in the foothills known for the summer music festivals.

Maybe you’re looking for something on the waterfront? North Carolina has several beautiful lakes as well as historic fishing villages like Beaufort along the shore.

Charlotte, in the southern Carolina Piedmont along the South Carolina border, offers big-city amenities with small-town appeal. With an average low temperature of 32 ° F and an average high temperature in July of 90 ° F., the “Queen City” is one of the top retirement spots in the South.

In the capitol city of Raleigh, retirees can enjoy lots of cultural activities with numerous theaters, museums and art galleries as well as the North Carolina Symphony, the first state sponsored symphony in the country. You can enjoy touring Broadway plays, the ballet and local entertainment at The BTI Center for The Performing Arts. The city is only 2 hours from the beach or the mountains.

One incentive for people who want to retire to North Carolina is that older and disabled homeowners are eligible for the Homestead Exemption, which allows qualifying homeowners a reduction on their property tax. The first $20,000 in appraised value of a permanent residence owned and occupied by a qualified owner is excluded from taxation. This can add up to be quite a savings.

Like with any place your considering, If you're considering a North Carolina Retirement Community, before you buy, take trip to the community you are considering to make sure that it is right for you.

Be sure to check out our page on Active Adult Communities in North Carolina.

Median Home Price: $117,771

Personal Income Tax: Yes
For single taxpayers:
-- 6 percent on the first $12,750 of taxable income.
-- 7 percent on taxable income between $12,751 and $60,000.
-- 7.75 percent on taxable income between $60,001 and $120,000.
-- 8 percent on taxable income of $120,001 and above.

For married persons filing joint returns:
-- 6 percent on the first $21,250 of taxable income.
-- 7 percent on taxable income between $21,251 and $100,000.
-- 7.75 percent on taxable income between $100,001 and $200,000.
-- 8 percent on taxable income of $200,001 and above

Sales Tax: Yes
The state sales tax increased on Oct. 1, 2008 from 4.25 percent to 4.5 percent.

Most taxable sales or purchases are also subject to the state tax as well as the 2.5 percent local tax rate levied by all counties.

North Carolina also has a use tax, which applies to all out-of-state purchases of tangible personal property that would be subject to the sales tax if purchased in North Carolina.

Property Tax: Yes
Property taxes are a locally assessed tax, collected by the counties. The state Department of Revenue does not send property tax bills or collect property taxes.

There are three types of property tax in North Carolina:
--Real property
--Motor vehicles
--Personal property (inventories and household personal property are exempt).

North Carolina offers various property tax exclusions, including tax breaks for the elderly, veterans and the disabled.

Inheritance and Estate Tax:
There is no inheritance tax, however, the North Carolina estate tax is tied to the federal collection system. The General Assembly did not adopt either the federal phaseout or termination of the estate tax credit. Therefore, the North Carolina estate tax is equal to the state death tax credit for estates as it existed prior to 2002.

For More Information:Contact the North Carolina Department of Revenue website

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