Find out how much it costs to live in Fairhope.
State Income Tax:
Social Security Tax?
County + State Sales Tax
Property Tax Rate *
Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *
Cost of Living Index (100=average):
Housing + transportation costs as % of income:
State Sales Tax Breaks for Seniors:
Tax burden: % income going to state and local taxes:
Homeowners 65 and older are exempt from all state property taxes. Some cities assess separate property taxes. Seniors age 65 and older with taxable income of $12,000 or less on their federal return may qualify for an exemption from county and city taxes with no maximum amount. Seniors age 65 and older with taxable income of more than $12,000 on their federal return but less than $12,000 adjusted gross income on their state return qualify for an exemption of $5,000 of assessed value from their county taxes. Seniors who don't meet the above income limitations may qualify for a county homestead exemption worth no more than $2,000.
For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/
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