Possible Retirement In Georgia

[rcsteiner]

Originally Posted by leonard

Is that from all sources of income or just income from employment?

It's a property tax exemption, at least in Cobb County.

[leonard]

Originally Posted by rcsteiner

It's a property tax exemption, at least in Cobb County.

Thank you, but I meant the qualification of under $75,000.00. Is that figure based on all "income", including investment income, stock, bonds, mutual funds, annuities, etc; or just "income" from a salary/employment?

[Zel Ya]

Originally Posted by leonard

Thank you, but I meant the qualification of under $75,000.00. Is that figure based on all "income", including investment income, stock, bonds, mutual funds, annuities, etc; or just "income" from a salary/employment?

As far as I know, the $75,000 income threshold is income--whether the income is unearned or earned.

These tax advantages apply to senior citizens, and at least in the past ( pre-financial meltdown ) quite a few senior citizens were not gainly employed and earning a paycheck-- senior citizens well into their late 60s and 70s.

Since the financial meltdown, many senior citizens may have to work well into their 60s and possibly 70s, IF jobs are available. But that's a big IF. Finding a job these days, even minimum wage jobs, seems to be tough.

I don't know Tennessee's current income tax laws, but in the past they didn't have a state income tax for EARNED income. However, UNEARNED income was taxed. At what percentage the unearned income was taxed, I don't know but it was taxed.

When you're talking about senior citizen income, it implies UNEARNED income.

[B Wagner]

Zel Ya is correct and Jefferson is one of the communities that gives seniors the tax discount. There are others in the area that are phasing this in such as Winder.

[zapata1818]

eamosh6, What kinds of activities interest you and your wife? For example do both of you like to play golf?

[eamosh6]

Originally Posted by zapata1818

eamosh6, What kinds of activities interest you and your wife? For example do both of you like to play golf?

We used to golf but it became too time consuming. We both like to kayak, work outdoors and travel. We live on seven acres and have our own stocked pond but are tired of snow. We are looking at homes on the internet in Jefferson, Hull, Canton, Dallas and Newnan. We I guess we are now called empty nesters! We have four kids (3 college grads and 1 a year away from graduating from college). Just looking for a place to call home where we can go outdoors, have a little space of our own and enjoy life. Looking at your profile I see that you are retired. I am thinking of retiring after 33 years. My concern is that I am only 52 and my wife is 49. Any advice you could provide would be appreciated.

[zapata1818]

Check out the new community between Atlanta and Athens in Statham, GA. Located on 316 aka University Parkway. Offers many services attractive to retirees and active professionals.

[gussie]

I live near Jefferson.. It's a nice little town.. not too far from Athens. But if you have sinus issues you will not like to live here. I didn't have any problems (I'm from Illinois) but when I moved to Georgia it was a NIGHTMARE!!!Up all night with the damn nose problems.. and it goes on all year.....Good Luck to you. No one selling you a home will comment on the sinus and allergy problems.. I wish they would have told me the truth!!!!