Retire in Decorah

Affordability

Find out how much it costs to live in Decorah.

Cost of Living

Kiplinger Rating:

Mixed

State Income Tax:

0.36-8.98%

Social Security Tax?

None

County + State Sales Tax

7%

Property Tax Rate *

1%

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

1052

* 2008-2010

Cost of Living Index (100=average):

95.7

Housing + transportation costs as % of income:

48%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Mixed

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

9.2%

Inheritance and estate taxes (per Kiplinger):

Iowa has no estate tax. The inheritance tax ranges from 0% to 15% depending on the amount of the inheritance and the relationship of the recipient to the decedent with these exceptions: No tax is due on property left to a surviving spouse stepchildren lineal descendants (children grandchildren etc.) or lineal ascendants (parents grandparents etc.) and no tax is due if the estate’s net value is less than $25000.\n

Taxing of other retirement income (per Kiplinger):

Mixed

Property Tax Break for Seniors (per Kiplinger):

property tax credit is available to residents who meet annual household low income requirements and who are age 65 or older or totally disabled. For 2015 household income had to be less than $22011.\n

 

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

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Work Potential

  • Area
  • National Average

5 Largest Companies

  • Luther College
  • Northeast Iowa Community College
  • Stanley Engineered Fastening
  • Winneshiek Medical Center
  • Bruening Rock Products

GDP Growth Last 3 Years

22.3%

Income Growth Last 3 Years

4.3%

Employment Growth Last 3 Years

0.6%

Top Industries Hiring

  • Wholesale trade
  • Construction
  • Retail trade
  • Other services (except public administration)
  • Manufacturing

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

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