In the northeastern part of the country is the state of Vermont. A majority of the state’s estimated 623,989 citizens are white, according to the United States Census Bureau. Vermont is one of the whitest states in the union as of 2021, with 93.1% of its population being white. Black or African American people are the second-largest racial group, but they only make up 1.3% of the population.
Despite having a predominately white population, Vermont has a number of varied communities. The state has a strong feeling of community, progressive politics, and stunning natural scenery. However, Vermont can be an expensive place to live. When thinking about moving to the state, it’s crucial to take the cost of living into account.
The city of Rutland, which is situated in the southwest of the state, is frequently mentioned as being the least expensive area to live in Vermont. With reasonably priced homes and a low tax rate, Rutland has a lower cost of living than the state average. The city also has a strong feeling of community and is the location of numerous regional companies and cultural organizations.
New Hampshire is frequently thought to be slightly less expensive when comparing the cost of living in Vermont to its surrounding states. The individual’s location and lifestyle may have an impact on this, though. Although New Hampshire has greater property taxes than Vermont, it has a lower overall tax rate. Property tax rates in Vermont are notoriously high, which may be a deterrent for people thinking about relocating there.
New Hampshire frequently tops the list of New England states with the lowest state taxes. Both a sales tax and a wage income tax are absent in the state. Its high property tax rate, however, can be a detriment to certain people.
Last but not least, when preparing to relocate to Vermont or any other state, it is crucial to take into account the tax rate on $1. In Vermont, 6% of every dollar is taxed. Accordingly, state taxes account for 6 cents of every dollar earned. When evaluating the cost of living in any state, taxes must be taken into account.
In summary, Vermont is a state with a large white population, a strong feeling of community, and stunning natural surroundings. However, as Vermont has high taxes and a high cost of living, it is crucial to take these factors into account before relocating there. The city of Rutland is frequently mentioned as the least expensive area to live in Vermont, while it’s possible that neighboring New Hampshire is marginally less expensive altogether. In the end, a person’s decision to relocate to Vermont or any other state should be based on personal considerations including lifestyle, employment prospects, and community.
Yes, there is a homestead exemption in Vermont. To eligible homeowners who live in Vermont who own and occupy their primary residence as their permanent place of abode, the state provides a homestead property tax exemption.
Unfortunately, the article “Vermont’s White Population and Cost of Living” does not go into detail about Vermont closing expenses. It mostly talks about the state’s population makeup and how much it costs to live there.