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W W W. M A I N E B I Z . B I Z 11 N OV E M B E R 2 8 , 2 0 1 6 REDUCE OPERATING COSTS AND INCREASE COMFORT BY UPGRADING TO A HIGH-EFFICIENCY HEATING SYSTEM FOR MORE INFORMATION, VISIT EFFICIENCYMAINE.COM OR CALL 866-376-2463 Incentives available for ductless mini-split heat pumps, boilers, furnaces, heating controls, and more. S everal recent surveys by fi nancial technology com- pany SmartAsset showed Portland is the most debt-savvy among Maine's cities, Belfast is the most tax-friendly to retirees and Kennebec County invested in the most municipal bonds to support its economy. Portland residents scored high marks, as did those in Presque Isle and Bangor. (See chart.) SmartAsset also compiled a Retirement Tax Friendliness Index taking into account property, income, fuel, sales and Social Security tax data. Belfast came out on top with a 33.43 score on tax friendliness, with $6,634 in income tax paid, 1.3% in property tax, $835 in sales tax, $315 in fuel tax and no amount taxed for Social Security. In overall tax friendliness, Skowhegan was sec- ond, followed by Waterville, Ellsworth, Gorham, Kennebunk, Brunswick, Old Orchard Beach, Orono and Augusta. SmartAsset looked at how the tax policies of each city would impact a retiree with a $50,000 income. Its hypothetical retiree is getting $15,000 in Social Security benefi ts, $10,000 from a private pension, $15,000 from retirement savings like a 401(k) or IRA and $10,000 in wages. Among other factors, it also estimated that 35% of take-home pay is spent on taxable goods. In a separate study, the market researcher found that Cumberland County residents are getting among the highest annual Social Security payments in Maine. In this study, Sagadahoc County ranked top on SmartAsset's 67.27 annual Social Security index. e cost of living was $19,718, and residents got annual Social Security payments of $18,262. Investing in economies Turning toward local economies, Kennebec County invested the most among Maine counties. e rankings were made according to local business establishment growth, GDP growth, new building per- mits issued and municipal bond investment. Kennebec invested $44,251 in municipal bonds per capita, had 3.3 new building permits per 1,000 homes, $24 million GDP growth and minus 0.7% business growth. Its municipal bond fi gure greatly outpaced the other counties. Cumberland, for example, which ranked second overall, had $868 per capita munici- pal and investment. Following Kennebec were Cumberland, Penobscot, York, Sagadahoc, Hancock, Knox, Franklin, Oxford and Lincoln. SmartAsset noted there are several ways individ- uals, governments and businesses can invest money in a county or region, but its study aimed to capture the places receiving the most incoming investments in business, real estate, government and the local economy as a whole. It looked at the change in the number of businesses established in each location over a three-year period to shows whether or not people are starting new business ventures. e total municipal bond debt raised by a county over the last fi ve years was divided by the population to give the per capita look at investment in local government. B I Z M O N E Y B Y L O R I V A L I G R A This and that: Stats from around Maine City Credit score Average debt Credit utilization Foreclosure rate Most debt savvy index 1 Portland 687.6 $27,990 29% 2.10% 75.80 2 Presque Isle 691.9 $28,886 29% 5.20% 65.08 3 Bangor 679.0 $29,634 31% 4.70% 51.51 Most debt-savvy Maine cities S O U R C E : SmartAsset

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