Find out how much it costs to live in Guilford.
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.
Least Tax Friendly
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:
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.
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/
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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.
GDP Growth Last 3 Years
Income Growth Last 3 Years
Employment Growth Last 3 Years