Wyoming has become a popular state to settle down in. It is known for its beautiful scenery, wide open spaces, and abundant natural resources. As a land buyer you may be wondering about the Casper, Wyoming, cost of living. It takes courage to uproot your life and move to a new state. There is more than just the adjustments to a new culture. Changes in the prices can be a shock.
Estimates vary, but the Wyoming cost of living is lower than the national average. Studies place the cost of living in Casper to be between 3.9% and 5% lower than the national average. Of course, that depends on where you are from. Those from expensive urban markets will appreciate a significant savings in most things, while those from less developed areas may even notice a slight increase in some costs. It’s best to look at your budget and fine tune your expectations based on your own personal needs.
Wyoming has a reputation as being a tax-friendly state. It is one of seven states that does not require its citizens to pay a state income tax. Property taxes are also low. Wyoming uses a “fractional assessment” system. Owners only pay taxes on a portion of their assessed land values. Residents of Casper pay 5% sales tax on retail goods. The state sales tax is 4%, and Natrona County imposes an additional 1%. State tax policy is kind to retirees, as there is no tax on retirement income earned and received from another state.
It’s more than just the savings in money that attracts most investors to the area. It’s the increase in value. For those wanting to settle down to a more rural lifestyle but still maintain access to city convenience, it is difficult to find a better bargain. Right now, it’s easy to own some of the most attractive pieces of real estate Wyoming has to offer just outside of Casper.
Plan a visit to the area, and check out some of the region’s features for yourself. Get a better feel for the particulars of living in Casper you are the most interested in. While you are there, enjoy the amazing scenery, and look into some of the spectacular pieces of land that you could own. Call 877-468-9802 now for more information about living expenses in Casper from The Brooks Companies, a real estate developer with over 40 years experience in the industry.