Find out how much it costs to live in Portland.
Living in Oregon definitely has its perks. Unfortunately, tax friendliness isn't one of them, with a rating of "Least Tax Friendly" by Kiplinger. The cost of living in Portland is also much higher than the national average.
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:
Oregon has a state estate tax for estates of more than $1 million. The maximum rate is 16%. There is no inheritance tax.
Homeowners 62 and older may delay paying property taxes based on certain income criteria. With the Property Tax Deferral for Disabled and Senior Citizens program, the state pays the taxes to the county, maintains the account and charges 6% interest, which is also deferred. Taxes are owed when the taxpayer receiving the deferral dies, sells the property, no longer lives permanently on the property, or the property changes ownership. To qualify, the taxpayer must live on the property and have a total household income of less than $43,000 in 2015.
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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To learn more about real estate in Portland book a visit and we'll help you find the right place to live.
In regards to work potential for retirees, Portland falls somewhere around the national average. With around 15% of individuals 65+ employed, and 65% of those part time, retirees can stay a part of the workforce in industries such as accommodation and food services, retail trade, and administrative services.
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