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Spotlight:

Charlotte, North Carolina

Charlotte is the largest city in the state of North Carolina and the second largest city in the Southeastern U.S. (the largest is Jacksonville, Florida). Nearly one million people live here and they are nicknamed "Charlotteans."

The city is headquarters to several large financial corporations, including Wells Fargo and Bank of America. It also has a large parks system and an eclectic mix of neighborhoods, from Uptown and Noda to Davidson and Pineville. There is something for everyone.

It is hard to get bored here. Attractions include the Daniel Stowe Botanic Garden, the NASCAR Hall of Fame, the Billy Graham Library, the City Art Room, the Narroway Theater and much more.

Real Estate

The median home value in Charlotte is $251,332. This is a 5% increase over the previous year.

Homes for sale sit on the market for an average of 56 days and usually receive one offer.

Estimates are that values will rise another 4% over the next year. Charlotte is a buyer's market.

Taxes

The combined sales tax rate for Charlotte, North Carolina is 7.25%, including the city rate and the county rate.

The property tax rate is 34.81 cents per $100 in assessed value.

For people making between $29,601 and $44,000 per year, property taxes are limited to 5% of their income.

The state also has a property tax exemption for people age 65 or better who have an annual income of $29,600 or less. The program excludes the first $25,000 or 50% of the home's appraised value, whichever is greater, from taxation.

North Carolina does not tax Social Security.

Cost of Living

Charlotte is relatively affordable for a major U.S. city. It is 30% less expensive than Denver, Colorado, 10% less expensive than Atlanta, Georgia and 3% less than Dallas, Texas.

The overall cost of living is 1% less than the national average. The median household income is $53,338.

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