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Thread: RFI: Retiring In Tennessee? (No State Tax In 2021)

  1. #21
    banana republican blues's Avatar
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    Quote Originally Posted by Drang View Post
    One drawback to TN is that, if dining out while armed, one cannot enjoy an adult libation.
    Same here in NC. It's a small price to pay for the freedom we (still) otherwise enjoy...especially in the western part of the state.
    There's nothing civil about this war.

    Read: Harrison Bergeron

  2. #22
    Chasing the Horizon RJ's Avatar
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    Quote Originally Posted by rob_s View Post
    Florida has no state income tax because we can make up the difference in taxing the tourists. How is Tennessee going to make up the difference. One of the previous posters mentioned 9+% sales tax?
    If I saw correctly TN combined State and Local sales tax is 9.26%? Perhaps a local can confirm?

    By comparison I’m in Hillsborough County (Tampa), which I believe is the highest tax In FL, at 7.0% state plus 1.5% local for a total sales tax of 8.5%.


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  3. #23
    Chasing the Horizon RJ's Avatar
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    Jan 2014
    Thanks all. Appreciate the info - and the PMs. Much obliged.

    Talked to The Boss. She gave the nod to an exploratory trip to Eastern TN, Knoxville to Johnson City, either this fall, or possibly extended on to my Rangemaster class in Dahlonaga GA next April.

    Thanks all!


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  4. #24
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    [TL-DR.... Zero state income tax is (usually) a non-factor if you are retired. What matters is 1. Does the state tax retirement income (SS, 401k, etc) and 2. What is the property tax rate?]

    Here in TX, we have no state income tax. The coffers are filled via property and sales taxes.
    Sales tax is 6.25% (state) plus local that ranges from small to (max) 2%. Not great, but not terrible.

    It's property tax that kills you here. In my AO, total property tax is above 2.25%. Average for Tarrant county (Fort Worth area) is 2.32%. A nice house in a decent neighborhood can range from $300,000 and up. That's almost $7,000 (and up) in property taxes you have to pay every year (less some exemptions). I don't know how retired people afford to live here.

    We considered moving to CO a few years ago for Wifes work. While CO had a 4.6% income tax (going up soon), property tax is substantially lower, only about $2,000 on a 300k home in the Denver burbs. Even if you paid 50% more for the same house in Denver, you're still only at about 3K/year in property tax.

    Tennessee does not tax retirement income and TN currently has a reasonable 0.75% property tax rate. Will that rate grow?
    Last edited by RoyGBiv; 08-21-2019 at 09:32 AM. Reason: spelling
    "No free man shall ever be debarred the use of arms." - Thomas Jefferson, Virginia Constitution, Draft 1, 1776

  5. #25
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    Austin, TX
    Very interested in this thread. With Austin 'progressing' as rapidly as it is we are thinking of relocating after my daughter graduates. Plus property taxes have about doubled in 12 years. Would be even more but we contest the appraisal every year.

    Had a coworker move to Knoxville and loved it, but that was 15 years ago or more.

    We are thinking more of northern Georgia, Jasper, Dahlonega, Elijay area but perhaps Knoxville area too.
    My understanding is Georgia doesn't tax social security, and the first $65000 after you are 65 years old.

    We spent spring break traveling around the area, going into Gatlinburg and up around Asheville. Hadn't been to the smokies since the early 80s and had forgotten how beautiful it is. Gatlinburg itself is quite the tourist trap though.

  6. #26
    banana republican blues's Avatar
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    Blue Ridge Mtns
    You definitely have to weigh all costs when figuring out what the net to you will be.

    I'm fortunate here in western NC because my pension is not subject to state taxation, (fewer and fewer folks will meet that criteria, however), and the low property taxes and cost of insurance (etc) are extremely reasonable and affordable. Add to that the natural beauty of the area, (surrounded by national and state forest), low population density and nearby amenities in town (and further out) makes it pretty much the place I plan to stay in barring significant unanticipated changes.
    There's nothing civil about this war.

    Read: Harrison Bergeron

  7. #27
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    West TN
    Lifetime TN resident here. I have spent most of the time in West TN although I did spend 7 years in Clarksville. (Not Military).

    TN Sales tax is actually two part. There is a state tax and then a local tax. The base state portion is 7%, then the local adds too it. My local is 2.75% so I pay 9.75% sales tax.

    In the tourist areas around Pigeon Forge it is actually higher, somewhere around 11% I think.

    There is also a State Income tax called the Hall Income tax that is paid on dividends over $2,500/year on a married couple. But that is going away in 2021 and it isn't paid on bank CD interest or US Gov bond interest. It isn't really that big of a deal for most and there is a larger exclusion if you are over a certain age.

    There are 3 COMPLETELY different cultural/geographical regions in TN.

    West - Hilly to flat/swampy as you go from East to West, much poorer than Middle TN, less cultural activities, less of pretty much everything, much better for farming, waste land is very cheap, farmland not so much, the farther West and North you go the deeper into earthquake territory you get, the ground has lots of clay the further east you go, some of the most valuable and productive clay mines in the world are in West TN (All professional baseball fields use clay from a specific location in West TN), excellent hospitals in Memphis, great barbecue, not much else.

    Middle - Hilly and lots of rocks, almost a basin with a ridge of hills in the Eastern and Western portion, not as good for farming as the West, LOTS of cultural activities, much more "cosmopolitan" with excellent medical care, lots of nice museums, lots of festivals, much more to "do", the further West you are the less the population, Waynesboro/Perry county/Stewart County are very low population with lots of forest land most owned by logging companies, the Eastern side is much more populated, my wife LOVED living in Middle TN but my family and property is in West TN and she loves being away from people MORE than she liked Middle TN.

    East - Hills are even bigger and get bigger the further East you go, even more rocks. As you go passed Cookeville you will go up onto the Cumberland Plateau (which is slightly cooler), this geography/culture is what people think of when they think of "Tennessee", not as "diverse" outside of the cities, more to do both culturally and outdoors than West TN, but significantly less than Middle TN, jobs are much harder to find than in West/Middle, land is relatively cheap but due to the ground it is often hard to find areas that will percolate correctly to put down a septic so make sure you get a perc test done BEFORE buying a piece of property. This can be a problem in Middle TN as well. Not really a problem in West TN.

    Personally I much prefer East TN (we spent a month+ a year and we almost moved there permanently when I was in middle school) to Middle TN and prefer Middle TN to West TN but I have a lot of family/property in Carroll County and 200 years of history so I am probably going to retire there.

    If you want to know about the Huntingdon, Dyersburg, Clarksville, Henderson TN area you can PM me and I can help you out. I have lived in those areas enough to talk intelligently about them.

    I also went to college in Memphis and lived there for 5 years and have an aunt that still lives there and I can tell you about that but you would be INSANE to intentionally move there.

    Property taxes aren't really that bad.

    I own two houses and 110'ish acres of land and I think I pay around $2,500'ish/year in property taxes. TN has a property tax abatement for land used in farming/growing trees called Greenbelt, that greatly reduces property taxes on vacant/farmland. I would MUCH rather pay higher sales taxes than income taxes. My wife's family is from Mississippi and they have a income tax and a sales tax and my overall tax burden is significantly smaller because we don't spend that much.

    Sorry for the rambling, people keep interrupting me with work questions for some reason.

  8. #28
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    Quote Originally Posted by JclInAtx View Post
    Very interested in this thread. With Austin 'progressing' as rapidly as it is we are thinking of relocating after my daughter graduates. Plus property taxes have about doubled in 12 years. Would be even more but we contest the appraisal every year.

    Had a coworker move to Knoxville and loved it, but that was 15 years ago or more.

    We are thinking more of northern Georgia, Jasper, Dahlonega, Elijay area but perhaps Knoxville area too.
    My understanding is Georgia doesn't tax social security, and the first $65000 after you are 65 years old.

    We spent spring break traveling around the area, going into Gatlinburg and up around Asheville. Hadn't been to the smokies since the early 80s and had forgotten how beautiful it is. Gatlinburg itself is quite the tourist trap though.
    Hey - I am in that NW GA area. I shoot at a private range between Jasper and Elijay. Yes, GA has some incentives reference taxing pensions, etc. plus some other tax breaks at 62 I think. In that NW GA area you are still close enough to Atlanta if you need something only a Big Cityish. There are some very good hospitals in NW GA. I see little reason to go back to Atlanta after I retire.

  9. #29
    Chasing the Horizon RJ's Avatar
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    Quote Originally Posted by ranger View Post

    Maybe we can meet when you are in Dahlonega.
    Is that near that um Lake you mentioned previously in one one my RV thread? Schedule permitting I’d guess we would be driving past that area en route...Will keep in touch if so.


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  10. #30
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    I am 45 minutes from anywhere and everywhere in NW GA from my secret hideout in Cherokee County GA - except work which is 1hr+.

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