Alabama
Nicknamed the Heart of Dixie, Alabama, is a state in the deep south of the United States. It has over a thousand miles of waterways, eclipsing the amount of Florida and other states handily.
Alabama was the 22nd state admitted to the Union and is filled with historical significance. Based on its other nickname, the Cotton State, Alabama suffered economically for over 50 years for its dependence on farming and cotton.
Miles of shoreline in the south of the state, as well as iconic southern cooking, and a storied, rich musical history, Alabama, can be an excellent destination for many.
Alabama is a football lover’s paradise. Nearly everyone knows of the Alabama Crimson Tide, based out of the University of Alabama in Tuscaloosa. ‘Roll Tide’ has become a familiar battle cry amongst citizens who are addicted to the constant successes of the team.
Housing in Alabama
The median listed price for a house in Alabama is $220,000. Of those that sell, they go for ~$159,000. If we were to look at property taxes based on this, it could be as low as $702 annually.
For those looking for an urban environment, direct your attention to the Birmingham metro area. It’s the largest city and has easily over a million residents. Starting as an industrial hub, it has quickly grown into an economic powerhouse in the south.
This bodes well for white-collar jobs and young professionals. The Greater Birmingham area is the perfect place to set down roots. Financial tasks like banking and becoming or hiring CPAs in Alabama is a fantastic career move.
Living in Birmingham and the surrounding areas offer some cheaper housing than some other major cities. Compare that with more rural areas and suburbs, and the cost of living decreases exponentially.
Looking at the housing forecast of Montgomery, the capital of Alabama, sales prices are dropping at an alarming rate. In Montgomery, the average home price is $91,562.00. This is only going to decrease over the next ten years. The outlook is that prices will drop in total by -10.595% over the next decade.
Alabama Taxes
The sales tax in Alabama is a flat tax of 4%. If we use other counties as a metric, the sales tax could compound to almost 12% in total. Alabama collects various income tax rates: from 2%, 4%, and 5%.
Useful Links
- Alabama Property Taxes
- Montgomery Housing Forecast
- Alabama Income Tax Calculator
- Alabama Tax Calculator
- Official Alabama Site
- Alabama Board of Public Accountancy – This is the place to find and become a CPA in Alabama. You can find info on licensing, resources, and more about CPAs and financial information in Alabama.
- Requirements for CPA Exam in Alabama
