Franklin (Simpson County) (Bowling Green, Woodburn: sales, job market, schools)

[MomsTn]

What can you tell me about this area?
My dad is just 10 miles south into Tennessee.
We're trying to decide between the two areas.
Tennessee doesn't tax retirement. What about Kentucky?

We want to be within 50 miles of a metropolitan area but not close enough to be affected by it.
A small town under 40,000 people.
Someplace that's not going to experience rapid growth.
We really don't care about a Starbucks on every corner.

We have an 8 year old, so, we want to be in a family-friendly area, not retirement.

thanks,

[dixiegirl7]

Franklin is very small with about 10,000 people. The people are nice there. There is some limit to shopping and dining but the good thing is that you are right between Bowling Green and Nashville for just about anything you need or want to do. I would check out their school system. I have heard good and bad things about the schools there. You could move to the Woodburn area which would still be in Warren County therefore your child would be in the Warren County school system which is very good.

[MomsTn]

Originally Posted by dixiegirl7

Franklin is very small with about 10,000 people. The people are nice there. There is some limit to shopping and dining but the good thing is that you are right between Bowling Green and Nashville for just about anything you need or want to do. I would check out their school system. I have heard good and bad things about the schools there. You could move to the Woodburn area which would still be in Warren County therefore your child would be in the Warren County school system which is very good.

Thanks for the input.
We drove over to Franklin one time, to go to the drive in, but it was raining that day, and we decided not to see the movie.
We never did get a chance to really drive around much.
So, that was the only glimpse that we had.

I love the area.

[tomocox]

Just be aware... Where Tennessee takes money out of your right pocket, Kentucky will get a similar amount out of your left. Every government in the United States must have money to operate and generally it is pretty close when speaking of a per-capita taxation of its citizens. I know this is not exactly true, but when speaking in terms of real dollars and the gross taxation, no matter where we are, American's pay close to 50% of their income in some form of taxation. Whether it is hidden in corporate taxes, sales taxes, property taxes, quasi-governmental businesses such as lotteries, gambling, etc. a government plans to receive so many dollars whether it is Tennessee, Kentucky, Alaska, or Maine.

[MomsTn]

Originally Posted by tomocox

Just be aware... Where Tennessee takes money out of your right pocket, Kentucky will get a similar amount out of your left. Every government in the United States must have money to operate and generally it is pretty close when speaking of a per-capita taxation of its citizens. I know this is not exactly true, but when speaking in terms of real dollars and the gross taxation, no matter where we are, American's pay close to 50% of their income in some form of taxation. Whether it is hidden in corporate taxes, sales taxes, property taxes, quasi-governmental businesses such as lotteries, gambling, etc. a government plans to receive so many dollars whether it is Tennessee, Kentucky, Alaska, or Maine.

All I can say is HUH?

The only question about taxes I asked was whether or not they tax retirement. So, your answer is a little bit of a HUH.

[tomocox]

I know. Sorry... didnt mean to lecture. To my understanding of your question, are you asking if Kentucky will charge you an income tax as you receive your retirement income? The answer will depend on whether you were taxed on the money going in. If it was a qualified account when deposited, it is my understanding that you will have to pay taxes as that money is withdrawn. If your retirement is made up of income that was generated by post-taxed monies, then you will be taxed on the gain.

[MomsTn]

Originally Posted by tomocox

I know. Sorry... didnt mean to lecture. To my understanding of your question, are you asking if Kentucky will charge you an income tax as you receive your retirement income? The answer will depend on whether you were taxed on the money going in. If it was a qualified account when deposited, it is my understanding that you will have to pay taxes as that money is withdrawn. If your retirement is made up of income that was generated by post-taxed monies, then you will be taxed on the gain.

That's ok.
My husband is a postal worker. In Minnesota they tax the paycheck, and the monies going into the retirement account. When the worker retires and collects his/her retirement it is once again taxed.

We have been planning on moving for over 4 years now. Last year, we had planned on moving to Tennessee in June or July, and it just didn't work out. The housing market hit the worst in years, and we decided to wait until next year when my husband can early retire if he wants to. Albeit a very young retiree.

Since Franklin is within 10 miles of where we plan on moving, we were also looking into the possibility of perhaps moving there. We would still be within a short distance of family members.

Tennessee won't tax my husbands retirement.

That's why I asked if Kentucky does.

[EclecticEars]

Let's see:

Tennessee doesn't tax retirement. It doesn't have an income tax.

Kentucky DOES tax retirement. It has a steep progressive income tax.

In Tennessee, you're closer to the growing metropolis of Nashville.

In Kentucky, your housing values and property taxes might be a bit cheaper (save for Bowling Green, which is still not that expensive,) but you'll be farther from a great city and top-notch healthcare.

In Tennessee, people are more likely to stop and just strike up a conversation with you. (I think TN is overrated in its friendliness factor, but it's still openly friendlier than 80% of the country.)

In Kentucky, the "random friendly stranger" thing isn't quite as common. It happens, but not quite like it does in the real South.

Tennessee has a thriving job market should you ever want to work part-time to keep from being bored.

Kentucky...uhhhhm, searching for jobs...oh yeah, there's a cashier position that just opened at the new Wal-Mart in Bowling Green.

Tennessee has your parents.

Kentucky does not have your parents.

Both states have natural beauty and clean air.

Both states have many dangerous curves and spots on I-65.

Both states are easily accessible by 50% of the nation's population.

I am a Kentuckian, but for the sake of practicality I would recommend Tennessee for you.

[MomsTn]

Originally Posted by jcm1986

Let's see:

Tennessee doesn't tax retirement. It doesn't have an income tax.

Kentucky DOES tax retirement. It has a steep progressive income tax.

In Tennessee, you're closer to the growing metropolis of Nashville.

In Kentucky, your housing values and property taxes might be a bit cheaper (save for Bowling Green, which is still not that expensive,) but you'll be farther from a great city and top-notch healthcare.

In Tennessee, people are more likely to stop and just strike up a conversation with you. (I think TN is overrated in its friendliness factor, but it's still openly friendlier than 80% of the country.)

In Kentucky, the "random friendly stranger" thing isn't quite as common. It happens, but not quite like it does in the real South.

Tennessee has a thriving job market should you ever want to work part-time to keep from being bored.

Kentucky...uhhhhm, searching for jobs...oh yeah, there's a cashier position that just opened at the new Wal-Mart in Bowling Green.

Tennessee has your parents.

Kentucky does not have your parents.

Both states have natural beauty and clean air.

Both states have many dangerous curves and spots on I-65.

Both states are easily accessible by 50% of the nation's population.

I am a Kentuckian, but for the sake of practicality I would recommend Tennessee for you.

Thanks JCM,
I love Tennessee, that's why we are moving back.
I thought I would check out Kentucky since I didn't know much about it.
Kentucky has some really beautiful scenery.

I guess, we'll just have to visit Kentucky when we move to Tennessee.

Have a SUPER day...

[EclecticEars]

You're welcome.

These are some places in Kentucky within 1.5 hours of the state line (at least the point you're looking) that I recommend for a day trip: Barren River Lake, National Corvette Museum and Plant, Bowling Green, Jefferson Davis Birthplace and Monument, Abraham Lincoln Birthplace and Monument, Mammoth Cave National Park, Beech Bend Park.

It's also most practical, in this case, to move to Tennessee. Think about it: live and work there, pay comparable property taxes to Ky., no income tax, and then shop at Wal-Mart in Franklin, KY where the sales taxes are 1-4% cheaper. If Kentucky would just repeal it's individual and corporate income taxes, we would not only be more marketable to newcomers and corporations alike, but possibly more commuters from Nashville would use Franklin and BG as bedroom communities. I don't see that happening anytime soon, though.