iowa retirement guide – Find Your Best Place to Retire

Posted: March 30, 2016 at 4:49 am


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If you have been searching for the perfect retirement community in the "American Heartland," then you have come to the right place. TopRetirements.com gives you detailed and honest reviews of the best places to retire in Iowa, by active adults for active adults. Peruse our listings to answer all your questions about a Midwestern favorite.

Overall

Coined the Food Capital of the World, Iowa is in the heart of the Corn Belt; once a purely agricultural economy, beautiful stretches of farmland stretch out under wide skies in some counties, while others are home to exciting, bustling cites. The states industries are diversified, including biotechnology and green energy production. It is also rated one of the safest states in which to live. A famous state for writers

and other intellectuals, Iowa has the third highest high school graduation rate in the nation. The population was 3.07 million in 2012.

Active adults looking for information on what retiring in Iowa is like will find information here. You can also refer to Iowas Wikipedia page for more helpful information.

Des Moines Skyline

Climate

Iowa, like most of the Midwest, has a humid continental climate. Depending on the season, there are extremes of cold and heat throughout the state. In spring, a period characterized by severe weather begins. Tornados are common, and Iowa has about 50 days of thunderstorms a year. Summers are incredibly hot, with daytime temperatures oftentimes in the nineties, while average winter days are well below freezing.

Per capita income and home prices

In 2010 the Iowa per capita income was reported at $26,059. Iowa ranks well on cost of living, among the top 30% of least expensive states in which to live. In November of 2011, the Zillow Home Value Index was $120,800. According to the National Association of Realtors, the median home price in Des Moines was $156,200 in the first quarter of 2013.

Taxes

Tax Burden:Iowas state and local tax burden is lower than the national average at 9.5% of income.

Marginal Income Tax Rates.The personal income tax system is divided into nine brackets; the top rate is 8.98% starts at an income rate of $63,315; it is the fifth highest for states charging individual income taxes.

Retirement Income Exemptions.A portion of retirement income may be exempt; it can be up to a $6,000 exemption for those filing singly and up to $12,000 for those filing jointly.

Social security exemption.By 2014, Iowa will fully exempt social security benefits from taxation.

Sales Tax:There is a 6% general sales tax on all consumers.

Property Taxes:Iowa is one of 13 states that do not collect state-level property taxes.

Homestead Exemption.There is a homestead tax credit for those who live in the state over six months a year.

Estate and/or Inheritance Taxes.The Iowa inheritance tax ranges from 1% to 15%.

Linkto Iowa Department of Revenue

Certified Retirement Communities

Iowa does not have any certified retirement community programs.

Best Retirement Communities

Des Moines in Iowa is home to at least one active adult community, Deerfield.

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iowa retirement guide - Find Your Best Place to Retire

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March 30th, 2016 at 4:49 am

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