Retire in Lincoln

Affordability

Find out how much it costs to live in Lincoln.

Cost of Living

Kiplinger Rating:

Least Tax-Friendly

State Income Tax:

2.46-6.84%

Social Security Tax?

Mixed

County + State Sales Tax

7.3%

Property Tax Rate *

1.9%

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

130

* 2008-2010

Cost of Living Index (100=average):

92.6

Housing + transportation costs as % of income:

49%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Yes

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

9.2%

Inheritance and estate taxes (per Kiplinger):

There is no estate tax. Nebraska's inheritance tax is a local tax administered by counties and ranges from 1% to 18%; assets passing to a spouse or charity are exempt from inheritance taxes.\n

Taxing of other retirement income (per Kiplinger):

Yes

Property Tax Break for Seniors (per Kiplinger):

People over age 65 who own and occupy their residence from January 1 through August 15 and meet income restrictions qualify for a homestead exemption that exempts all or a portion of a property's value from taxation. Single filers earning less than $27300 and married filers earning less than $32000 qualify for the maximum exemption of the taxable value of their homestead up to $40000 or 100% of the county's average assessed value of single-family residential properties whichever is greater.\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

  • State of Nebraska
  • Lincoln Public Schools
  • University of Nebraska–Lincoln
  • Bryan Health
  • US Government

GDP Growth Last 3 Years

16.9%

Income Growth Last 3 Years

12.7%

Employment Growth Last 3 Years

5.6%

Top Industries Hiring

  • Construction
  • Accommodation and food services
  • Finance and insurance
  • Arts entertainment and recreation
  • 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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