Find out how much it costs to live in Camden.
It's a northeastern town, so you should immediately keep low tax expectations in check. While it doesn't have the worst tax situation partially due to no social security tax, the situation in Maine certainly isn't great either thanks to the high state income taxes and estate taxes. Couple that with the high cost of living in Camden, and you'll probably need to save just a bit more when retiring in Camden.
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):
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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 $6,000 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 $50,000 exemption._x000D__x000D_Those 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._x000D__x000D_A 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.
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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While Camden doesn't appear to be growing at a fast rate, working seems to be in fashion for those in their retirement years. Almost 25% of those over 65 are employed full or part-time.
GDP Growth Last 3 Years
Income Growth Last 3 Years
Employment Growth Last 3 Years