on my mind

And why it should be on yours, too!

by JG Walker

From the mountains to the sea and from thriving metropolitan areas to laidback small towns, Georgia also offers unique locations, cultural attractions, and recreational opportunities unlike any other state.

Georgia may not be the first state on your list of possible destinations for the next chapter of life, but it certainly deserves a closer look. Kiplinger recently ranked Georgia No. 3 on the list of “Best States To Retire,” citing its low taxes and living costs for seniors. But whether you’re ready for full-time retirement, planning to work remotely for a few more years, or thinking about moving your company to a more businessfriendly environment, Georgia should certainly be on your radar.

Income Taxes

Georgia has a bracketed state income tax scale that ranges from 1% to 5.5% but offers some major breaks for seniors. The first $65,000 in individual retirement income (or $130,000 per couple) is excluded from taxation for residents age 65 and older. For Georgians between the ages of 62 and 64, the exclusion amount is up to $35,000 (or $70,000 per couple). Georgia does not tax Social Security retirement benefits and has no estate or inheritance tax.

Sales Taxes

The state sales tax rate in Georgia is 4%, with most groceries and other basic items exempt. Local governments can collect an additional amount for county and municipal services, resulting in an average combined sales tax rate of about 7.33%.

Property Taxes

Homeowners in Georgia pay an average of about $1,000 in property taxes on $100,000 of assessed home value, but that amount can be a little higher or lower depending on the county (and Georgia has 159 of them). However, there are a number of statewide homestead exemptions available for residents starting at age 62 and increasing as they get older. Many counties that want to attract new residents offer additional exemptions that can be even more beneficial than those offered by the state.

Property Values

In September 2020, Zillow estimated that the average home value in Georgia was $213,918, noting that this figure was seasonally adjusted and included only the middle-price tier of homes. Overall, Zillow found that Georgia home values had increased 5.7% in the past year and predicted a rise of 6.9% in the next year.

Business Incentives

The Georgia economy is one of the most dynamic in the South, with corporate headquarters that include Coca-Cola, CNN, Chick-fil-A, Delta Airlines, and Home Depot. New business development is a top state priority. Companies that create full-time jobs in Georgia can be eligible for tax credits of up to $4,000 per job, with even greater allowances for businesses with wages higher than the local average. Additional investment tax credits are available for manufacturing and high-tech companies, plus those engaged in research and development. There are also a number of tax exemptions for machinery, equipment, and materials, as well as for companies that offer employeetraining programs.

Cost of Living

As noted in a November 2020 article published in USA Today, the overall cost of living in Georgia is currently 7% below the national average.

Healthcare

According to Kiplinger, Georgia has the sixth-lowest health care costs in the country for retired couples. Emory University Hospital in Atlanta is Georgia’s top-rated facility, and the state-wide Emory Healthcare Network has more than 250 provider locations employing 2,800+ physicians. The St. Joseph’s/Candler Health System is the leading provider in Savannah and the surrounding coastal Georgia region.

“We’re so fortunate at The Landings to have Georgia’s ‘First City’ of Savannah just 15 minutes away. We love strolling the cobblestone streets in the historic district, enjoying the local museums and lively arts scene, participating in the festival celebrations nearly every month, and dining out at the nationally-acclaimed restaurants.”

April Coleman, resident of The Landings since 2015

SPOTLIGHT ON The Georgia Coast

Georgia may have the most unique collection of oceanfront islands on America’s Atlantic coast. Tybee Island is “Savannah’s Beach Town,” a family-friendly seaside destination for vacationers and day trippers alike. Ossabaw and Sapelo are two of the South’s largest barrier islands that are accessible only by boat, where maritime forests, pristine beaches, and the traditional Gullah-Geechee culture have been preserved. Sea Island and St. Simons Island, in contrast, feature world-class destination resorts, championship golf courses, and restaurants with BBQ and seafood specialties on the menu. Jekyll Island features 20+ miles of bike paths, the region’s biggest water-fun park, and classy accommodations at the historic Jekyll Island Club. And the delightful town of St. Marys is the “Gateway to Cumberland Island” and its 17 miles of undeveloped oceanfront.

SPOTLIGHT ON Atlanta

Atlanta is the hub of the South’s largest metropolitan area and a crossroads of regional transportation, entertainment, and culture. HartsfieldJackson International Airport offers direct flights to nearly every major city in the Western Hemisphere and Europe. Teams in all of the major American sports leagues have a home in Atlanta, and attractions range from the awesome Georgia Aquarium to the sublime Martin Luther King Jr. National Historic Site. There are scores of theaters, concert venues, and art museums, all of which are accessible from distinctive urban enclaves like Sandy Springs, Alpharetta, Decatur, and Vinings, as well as mountain towns to the north like Helen, the college town of Athens to the east, and Peachtree City to the south, where 90 miles of paved pathways make golf carts the everyday vehicle of choice.

SPOTLIGHT ON Savannah

Forbes featured Savannah on its list of the “25 Best Places to Retire 2020,” citing lower median home prices and living costs that are 12% below national averages. Even better, Savannah-area residents can enjoy the same lifestyle amenities that have made the port city such a popular tourist destination: leisurely walks through the 24 pocket-park squares in the historic district and the 100-acre Bonaventure Cemetery, featured exhibitions at the Telfair Museums, local-craft shopping at the City Market, and the brew pubs, wine bars, and one-of-a-kind restaurants along River Street and throughout the downtown area. Add in a year-round calendar of music, film, art, and food festivals, and it’s easy to see why so many former Savannah visitors now make it their home.

“Residents often inform us that the sense of community they enjoy at Savannah Quarters far exceeds their expectations. From walking or biking the community with their friends, to late morning rounds on the Greg Norman Signature golf course or private lessons at the tennis center, all at a location just minutes from historic Savannah.”

Joe McNamara, Sales Manager | Savannah Quarters

Farm to Table

Georgia is the nation’s leading grower of peanuts, pecans, and those sweet Vidalia onions. It’s second only to neighboring South Carolina in peach production, but Georgians will tell you that theirs are much tastier. The state is also a major producer of blueberries, bell peppers, cabbages, cantaloupes, cucumbers, snap beans, squash, and watermelons, plus poultry, pork, and seafood. Every city and county seat hosts seasonal farmers markets, or you can sample the local fare at trendy Atlanta cafés, award-winning Savannah restaurants, and Main Street diners all over the state.

Lifelong Learning

Georgia residents age 62 and over can take classes for free or earn degree credits at 26 satellite campuses in the University of Georgia system and more than 20 technical schools located throughout the state. Many other private colleges and specialty institutions like the Savannah College of Art & Design welcome senior students with auditing options or reduced-fee courses.

Location, Location, Location

Georgia’s climate is mild in the winter, warm in the summer, and just about perfect in the early-arriving spring and late-lingering fall. As a result, outdoor recreations from golf and tennis to hiking and boating can be enjoyed year-round in Georgia. Among specific locales, Atlanta and Savannah may be the best known. Thriving midsized cities like Augusta, Columbus, and Macon have much to offer, but Georgia also features hundreds of rural small towns with a front-porch hospitality that welcomes new neighbors.