U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Tennessee > Cookeville
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-24-2015, 08:18 AM
 
12,559 posts, read 35,080,205 times
Reputation: 9669

Advertisements

Cookeville is located between Nashville and Knoxville in central Tennessee. Since the state of Tennessee has no state or local income taxes, retirees would only pay taxes at the federal level. At the same time, they would enjoy a cost of living 15% lower than the national average. As a result, SmartAsset’s analysis found that a gross income of $34,792 [Social Security and retirement income combined] would be sufficient for a comfortable retirement in Cookeville.

The ten cheapest cities in America for retirement:
  1. McAllen, TX
  2. Ashland, OH
  3. Martinsville, VA
  4. Cookeville
  5. Idaho Falls, ID
  6. Amarillo, TX
  7. San Marcos, TX
  8. Norman, OK
  9. Hattiesburg, MS
  10. Sherman, TX

https://smartasset.com/retirement/wh...aire-to-retire
__________________


IMPORTANT READING:
Terms of Service

---
its - possession
it's - contraction of it is
your - possession
you're - contraction of you are
their - possession
they're - contraction of they are
there - referring to a place
loose - opposite of tight
lose - opposite of win
who's - contraction of who is
whose - possession
alot - NOT A WORD

Last edited by JMT; Today at 07:39 AM..
Rate this post positively Reply With Quote Quick reply to this message

 
Old 09-24-2015, 10:11 AM
 
47 posts, read 47,292 times
Reputation: 108
That website...not a very nice thing to call ET, now, is it?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-25-2015, 10:49 AM
 
920 posts, read 1,075,962 times
Reputation: 595
Quote:
Originally Posted by qizilbash View Post
That website...not a very nice thing to call ET, now, is it?
I see what you did there.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-11-2015, 07:17 PM
 
Location: Cumberland Cove, Monterey, TN
1,302 posts, read 4,295,017 times
Reputation: 943
Quote:
Originally Posted by JMT View Post
Cookeville is located between Nashville and Knoxville in central Tennessee. Since the state of Tennessee has no state or local income taxes, retirees would only pay taxes at the federal level. At the same time, they would enjoy a cost of living 15% lower than the national average. As a result, SmartAsset’s analysis found that a gross income of $34,792 [Social Security and retirement income combined] would be sufficient for a comfortable retirement in Cookeville.

The ten cheapest cities in America for retirement:
  1. McAllen, TX
  2. Ashland, OH
  3. Martinsville, VA
  4. Cookeville
  5. Idaho Falls, ID
  6. San Marcos, TX
  7. Norman, OK
  8. Hattiesburg, MS
  9. Sherman, TX

https://smartasset.com/retirement/wh...aire-to-retire
Thanks for posting this, JMT.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-12-2015, 11:12 AM
 
412 posts, read 365,429 times
Reputation: 839
That article flat out lies about Tennessee taxes.

"Since the state of Tennessee has no state or local income taxes, retirees would only pay taxes at the federal level."

Bull, Tennessee has a personal income tax on investment income. It is known as the Hall tax, more properly the Hall Income Tax.

It generally affects two classes of people, the wealthy and retirees. Since a significant number of retirees live on investment income, having had "invest for your retirement years" hammered into them over their working lives, the no Tennessee income tax lie is particularly pernicious coming from a publication purporting to give retirement advice regarding Tennessee.

https://en.wikipedia.org/wiki/Hall_income_tax
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-12-2015, 02:33 PM
 
920 posts, read 1,075,962 times
Reputation: 595
Wasn't the Hall Income Tax repealed or or rolled back last legislative session?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-12-2015, 04:39 PM
 
422 posts, read 383,354 times
Reputation: 626
The ranking represents retirees who also collect social security. Aren't retirees exempt from the Hall tax when they are 65 and have a income below 33k single / 59k joint.

Last edited by Jumeby; 12-12-2015 at 05:11 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-12-2015, 05:55 PM
 
Location: On the plateau, TN
15,208 posts, read 11,115,571 times
Reputation: 9998
Quote:
Originally Posted by Jumeby View Post
The ranking represents retirees who also collect social security. Aren't retirees exempt from the Hall tax when they are 65 and have a income below 33k single / 59k joint.


The legislature voted to raise the level which allows more senior citizens to be exempt in 2011 and 2013, with current income exemption levels at $33,000 per individual and $59,000 per couple. Under Senate Bill 32, the annual Hall Income Tax standard income exemption for taxpayers 65 years of age or older would be $37,000 for single filers and $68,000 for joint filer taxpayers beginning in January 2016.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-12-2015, 05:57 PM
 
Location: On the plateau, TN
15,208 posts, read 11,115,571 times
Reputation: 9998
Quote:
Originally Posted by tragenvol View Post
Wasn't the Hall Income Tax repealed or or rolled back last legislative session?
Hall income tax repeal fails again .....April 23, 2015


Hall income tax repeal fails again - but higher exemptions approved - Humphrey on the Hill
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-12-2015, 07:28 PM
 
12,559 posts, read 35,080,205 times
Reputation: 9669
Quote:
Originally Posted by Bones View Post
The legislature voted to raise the level which allows more senior citizens to be exempt in 2011 and 2013, with current income exemption levels at $33,000 per individual and $59,000 per couple. Under Senate Bill 32, the annual Hall Income Tax standard income exemption for taxpayers 65 years of age or older would be $37,000 for single filers and $68,000 for joint filer taxpayers beginning in January 2016.
That is definitely a step in the right direction. Repealing the Hall Tax will help places like Crossville and Cookeville attract more retirees.
__________________


IMPORTANT READING:
Terms of Service

---
its - possession
it's - contraction of it is
your - possession
you're - contraction of you are
their - possession
they're - contraction of they are
there - referring to a place
loose - opposite of tight
lose - opposite of win
who's - contraction of who is
whose - possession
alot - NOT A WORD
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Tennessee > Cookeville
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top