It’s always a good idea to know what kind of taxes you might be paying whenever you move to a new location and for those thinking about re-locating to Atlanta Ga, this tax breakdown may help you out.
Being the capital city of the state of Georgia, it is the 9th most populated metropolitan area in the United States. As a result, the employment market can be rather competitive. That being said, however, it also means there are a lot of jobs and career opportunities within metropolitan Atlanta.
Those thinking of moving to Alanta, Georgia must keep in mind that as of April 2015 the city boasts some of the highest property tax rates in the US. At an average rate of $3,327 per year, it can be a bit daunting for some people. This is mostly due to the progressive High Tech industry, which dominates the state’s economy. For many who earn some of the best wages and salaries across the nation, the average property tax rate may not be a bad deal. It does work out to be relative in the long run.
Sales Tax Rate
Atlanta currently operates on a combined regional and state sales tax rate of 8.25%. True, this is higher than in some states, but again, people earn more than 40% annually than in most other US states. Upon a recent visit there, I found that many merchants mark down their prices in order to make purchases more financially comfortable for consumers. As a result, typical purchases work out to about the same as in other parts of the United States. Depending on the state’s economic status, of course.
Georgia has one of the lowest income tax rates in the nation. For this reason alone, it can be quite attractive to many people. Many feel this is why property taxes are so high in the city and state. Perhaps so.
Job Growth and Unemployment Rate
Financiers boast of an over 40% job growth rate within the Atlanta region in the near future. This is 26% higher than in most large cities of it’s kind within the US. Furthermore, it has recently seen an increase of 2.82% in job growth over the past year.
We are consistently hearing about horrifying unemployment rates in US cities and regions, but Atlanta is not among the stories. Their current unemployment status is sitting at 3.50% – one of the lowest in the nation. For those interested, it also boasts one of the lowest crime rates per capita in the United States. With so much employment to be taken advantage of, people don’t feel the need to commit crime.
Atlanta Taxes Conclusion
Most of us have been paying income tax our entire adult lives. Atlanta has low income taxes. For some, the higher property taxes could make up for it. However, never discount the fact that Atlanta is one of the fastest growing cities when it comes to gainful employment in the US. For a nation that isn’t in the greatest shape economically, this speaks volumes.