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Potomac
Potomac
Maryland
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Potomac ( listen ) is a census-designated place (CDP) in Montgomery County, Maryland, United States, named for the nearby Potomac River. In 2013, CNNMoney listed Potomac as the most affluent town in all the United States based on median household income. Potomac is also the seventh most top-educated American small town according to Forbes. Bloomberg Businessweek labeled Potomac as the twenty-ninth richest zip code in the United States in 2011, stating that it had the largest population of any U.S. town with a median income of more than $240,000. In 2012, The Higley Elite 100 published a list of highest-income neighborhoods by mean household income, which included four neighborhoods in Potomac; one of these neighborhoods, "Carderock-The Palisades" was ranked the highest-income neighborhood in the United States, followed by "Beverly Hills-North of Sunset" in Beverly Hills, CA, and "Swinks Mill-Dominion Reserve" of McLean, VA. More recently, two Potomac neighborhoods were ranked among the ten wealthiest neighborhoods in the country by CNBC in 2014. In 2018, data from the American Community Survey revealed that Potomac was the 6th wealthiest city in the United States. Many Potomac residents work in nearby Washington, D.C.

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Taxes

D+

How did Maryland earn the grade of D+? We examined the state taxes based on how age friendly they are. Maryland has a state sales tax of 6.00%. Of particular interest is that Maryland does not have taxes on social security. There are estate taxes. There are taxes imposed on inheritance. Maryland has an effective property tax rate of 1.10%. Weighing these taxes and other taxes most likely to impact the aging population is how Maryland earned its state tax grade of D+.

Learn more about taxes in Maryland

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