NC Tax Advantages
Consider relocating to Charlotte, North Carolina where the
living is easy!
Do the winter blues have your down?
Consider relocating to Charlotte, North Carolina where the living is easy! Warmer weather, all 4 seasons, a strong economy with lots of strong employment opportunities and lots of recreational opportunities make North Carolina a relocation destination of choice. Charlotte is strategically located just 2 hrs. from the Blue Ridge mountains and 3 hours from the Atlantic Ocean. Whether you enjoy boating, fishing, golf, professional sports, winery tours, equestrian activities, Broadway shows, concerts or whitewater rafting, Charlotte has all this and much more.
Lower Real Estate taxes:
Here at Lake Norman, which is just north of Charlotte, taxes range from .50 per $100. of tax value to $1.50 per $100 of tax value. For example, on a $500,000 home taxes can range from $2,500 per year to $7,500. Per year depending on which county you choose on Lake Norman. HOA dues and golf club memberships tend to be substantially lower than the NY, NJ and Long Island areas.
Your Military Pension income may be tax exempt:
Military retirement pay may not be taxed at all if it meets certain requirements including if the veteran was “vested in the retirement system” for five years as of August 12, 1989. Otherwise, tax exemptions may be applicable up to $4,000 for single returns and $8,000 for joint returns. One exception to the tax on non-vested military retirement pay over $4,000 is Veterans Affairs disability retirement pay. This type of military retirement pay is not subject to state or federal income tax. North Carolina also has a program that gives disabled veterans a break on their property tax.
Income Tax rate:
North Carolina does have a state income tax rate of 5.25 for 2019 but keep in mind that overall real estate taxes are substantially lower as are HOA dues and your dollar goes farther to purchase real estate. US Government Retirees: Your pension is tax free in NC.
Better home values:
Your purchasing dollar goes much, much farther. Here at Lake Norman you can purchase a luxury waterfront home with long range views, gourmet kitchen and in ground pool, private boat dock and quick commute to Charlotte and the international airport for 1 million dollars or less. There is also something for everyone here on Lake Norman with prices for waterfront homes with private piers from $400,000 to 8 million.
Retirement Resort Communities:
North Carolina and particularly the Lake Norman area does offer a variety of fabulous new resort style retirement communities for people age 55 and over that even include boating. For example, the Trilogy at Lake Norman community located in Denver, NC is a highly popular retirement destination with home prices that vary from $287,000- $490,000 that come with a boat club membership where you check out a boat for the day just like a library book. Their amenities are top notch including a fabulous restaurant that is open to the public.
Charlotte, NC has been known as a strong banking and airline hub for many years but also offers a very diversified employment opportunity with unemployment currently at 3.30% as of January 2019.
Connect with Team Nadine
Contact us with any questions.
19721 Bethel Church Road
Cornelius, NC 28031
About Team Nadine
– #1 for individual sales in the Lake Norman Region for 2012 & 2016
– #1 Prudential Carolinas Realty sales Team 2005-2010 in all of Charlotte