Find out how much it costs to live in Bar Harbor.
Not 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:
Maine has no inheritance tax. In 2013 the estate tax exemption level rose to $2 million and estate tax rates range from 8% to 12%.
A veterans' exemption of $6000 is available to those who served during a recognized war period are 62 or older are receiving 100% disability as a veteran or became 100% disabled while serving. Paraplegic veterans who received a federal grant for a specially adapted housing unit may receive a $50000 exemption.\n\nThose age 65 or older who qualify for the Maine Residents Property Tax Fairness Credit can receive a credit of up to $900 $300 more than those younger than 65.\n\nA senior citizen property tax credit for volunteer service is available. A municipality may adopt an ordinance to allow resident homeowners who are at least 60 years old to earn up to $750 in benefits by volunteering to provide services to the municipality. The benefits are not subject to Maine income tax.\n
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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