Retire in Guilford

Approved City

Affordability

Find out how much it costs to live in Guilford.

Cost of Living

Sticking with the theme of stereotypical Northeastern towns-Guilford fits the bill when it comes to taxes and cost of living, with very high cost of living and rated by Kiplinger as one of the "Least Tax Friendly" states for retirees. This includes high income taxes, social security taxes, and estate taxes.

Kiplinger Rating:

Least Tax Friendly

State Income Tax:

3-6.7%

Social Security Tax?

Mixed

County + State Sales Tax

6.4%

Property Tax Rate *

1.7%

Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *

265

* 2008-2010

Cost of Living Index (100=average):

144.9

Housing + transportation costs as % of income:

51%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Mixed

Tax burden: % income going to state and local taxes:

11.9%

Inheritance and estate taxes (per Kiplinger):

Connecticut imposes an estate tax on the transfer of estates valued at $2 million or more at a progressive rate starting at 7.2%. The rate rises to a maximum of 12% for an estate valued above $10.1 million. There is no inheritance tax._x000D__x000D_Connecticut is one of two states with a gift tax, which applies to real and tangible personal property in Connecticut and intangible personal property anywhere for permanent residents. Only the amount given after January 1, 2005, and over $2 million is taxed, starting at 7.2% of the excess and rising to $748,200 plus 12% of the excess over $10.1 million.

Taxing of other retirement income (per Kiplinger):

Mixed

Property Tax Break for Seniors (per Kiplinger):

Connecticut offers property tax credits to homeowners who are at least 65 years old and meet income restrictions. Income ceilings are $39,500 for married claimants (with a maximum benefit of $1,250) and $32,300 for single claimants (with a maximum benefit of $1,000). Renters under those income ceilings may qualify for a rebate. Municipalities may provide additional tax relief for seniors.

 

For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/

Real Estate

eRetirements has partnered with a network of over 12,500 top performing Realtors covering 91% of the United States. These Realtors will show you around town, assist you in viewing properties, and provide you with local info that would be nearly impossible to discover on your own.

Work Potential

Guilford's economy has been growing, although not quite at the same pace as the rest of the US. Still, there is plenty of part time work to be had, especially in healthcare and hotels or food services.

  • Area
  • National Average

5 Largest Companies

  • Yale-New Haven Shoreline Med
  • Sarah Tuxis
  • Guilford Fire Chief
  • Guilford Personnel Director
  • Branford/Guilford VNA

GDP Growth Last 3 Years

7%

Income Growth Last 3 Years

8.9%

Employment Growth Last 3 Years

3%

Top Industries Hiring

  • Health care and social assistance
  • Accommodation and food services
  • Administrative and waste management services
  • Retail trade
  • Educational services

Breakdown Fulltime vs Part Time over 65 (%)

  • Part Time over 65
  • Full Time Over 65

Occupation Breakdown (%)

  • Management, Business, Science & Arts (MBSA)
  • Natural Resources, Contruction & Maintenance (NRCM)
  • Production, Transportation, Materials & Moving (PTMM)
  • Sales & Office (S&O)
  • Service

Didn't find what you're looking for? Ask the community a question.