Retire in Burlington

Affordability

Find out how much it costs to live in Burlington.

Cost of Living

Vermont follows suit with the rest of the Northeast and is certainly not attractive from a tax perspective. Social security taxes, high state income taxes, pension taxes, and estate taxes are the major reasons to make sure you're comfortable with your financial situation before heading to Vermont. Add in a very high cost of living in Burlington and you'll REALLY want to make sure you're feeling comfortable.

Kiplinger Rating:

Least Tax Friendly

State Income Tax:

3.55-8.95%

Social Security Tax?

Yes

County + State Sales Tax

7%

Property Tax Rate *

1.6%

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

348

* 2008-2010

Cost of Living Index (100=average):

123.6

Housing + transportation costs as % of income:

45%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Yes

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

10.5%

Inheritance and estate taxes (per Kiplinger):

Vermont has no inheritance tax, but it does have an estate tax if property exceeds $2.75 million. The maximum estate tax rate is 16%.

Taxing of other retirement income (per Kiplinger):

Yes

Property Tax Break for Seniors (per Kiplinger):

None

 

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

eRetirements has partnered with a network of over 12,500 top performing Realtors covering 91% of the United States. These Realtors will show you around town, assist you in viewing properties, and provide you with local info that would be nearly impossible to discover on your own.

Work Potential

Burlington is a fairly ideal location for those looking to continue working: a very low unemployment rate, a nearly 20% employment rate among those over 65, a high income growth rate, and diversified industries to choose from. Some of the potential employers include GE Healthcare, Air National Guard, and if you're really trying to adapt to the snow culture, Burton Snowboards.

  • Area
  • National Average

5 Largest Companies

  • Fletcher Allen Health Care
  • Air National Guard
  • GE Healthcare
  • Burton Snowboards
  • Champlain College

GDP Growth Last 3 Years

13.4%

Income Growth Last 3 Years

15.7%

Employment Growth Last 3 Years

5.9%

Top Industries Hiring

  • State government
  • Administrative and waste management services
  • Accommodation and food services
  • Healthcare and social assistance
  • Other services, except public administration

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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