Retire in Salt Lake City

Approved City

Affordability

Find out how much it costs to live in Salt Lake City.

Cost of Living

Kiplinger Rating:

Not Tax-Friendly

State Income Tax:

Social Security Tax?

Yes

County + State Sales Tax

6.9%

Property Tax Rate *

0.7%

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

1875

* 2008-2010

Cost of Living Index (100=average):

97.6

Housing + transportation costs as % of income:

46%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Yes

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

9.6%

Inheritance and estate taxes (per Kiplinger):

None

Taxing of other retirement income (per Kiplinger):

Yes

Property Tax Break for Seniors (per Kiplinger):

For 2015, homeowners and renters 65 and older (and surviving spouses of any age) who earned $31,702 or less in 2015 can get a "circuit breaker" tax credit that permits an abatement of 50% of the property taxes due, up to $939. For renters, the amount of relief received is also based on the percentage of rent paid. Homeowners and mobile-home owners get an additional credit equal to the tax on 20% of their property's fair market value. Homeowners who qualify for the circuit breaker generally also qualify for an indigent abatement or deferral; those 64 and younger who have a disability or extreme hardship may also qualify.\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 Utah
  • Intermountain Health Care
  • University of Utah
  • Salt Lake County
  • Smith's Food & Drug Centers

GDP Growth Last 3 Years

12.9%

Income Growth Last 3 Years

13.5%

Employment Growth Last 3 Years

8.2%

Top Industries Hiring

  • Professional, scientific, and technical services
  • Administrative and support and waste management and remediation services
  • Other services (except public administration)
  • Accommodation and food services
  • Construction

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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