Tax Question

[Kichenwich]

Originally Posted by Firefighterdon

Thanks Kimmie. Right now it is between TN and KY and there are only a couple of areas of TN that we are considering, whereas KY has a lot more of the type of area we are looking for. Either will be cheaper in the long run compared to our area which is growing by leaps and bounds and none of it is for the best. There is a new 5,500 (yes that is the right number) housing development before our township supervisors right now for approval. I've lived here all my life and it was country when I grew up but not anymore.

It's also refreshing to talk to some about the fire service. We watch a lot of RFD TV on satellite and really like the advertisements supporting volunteers. As they say the fires are just as hot only we don't get paid. One interesting note I received from someone in KY stated they pay $40 per year for Medivac. We use a lot of Medivacs up here for accidents, etc. and they bill the insurance company. Our flight costs for about 20 minutes to the Trauma Center is $20,000. Oops, gotta go......looks like we may be "next due".

Have you thought about on the Ky Tn border? There are some really nice places around there.
http://www.city-data.com/city/Whitle...-Kentucky.html
http://www.topix.net/city/whitley-city-ky
http://www.corbinkycityguide.com/
http://www.corbinkentucky.us/
http://www.city-data.com/city/Jamestown-Kentucky.html
http://www.kyhometown.com/jamestown/

These are all links for towns around TN, with my favorite being Jamestown, due to the amount of things to do/see and still keep the "historical" feel. Check out the links, and do some more searching. These are really convenient areas to TN, and interstates. Hope this helps! ~joanna~

[Firefighterdon]

Thanks Joanna. Yes, that's really the area we are concentrating on right now after vacationing in both states the past few years. It seems to be close enough for day trips to Berea, Nashville, and everything in between including a multitude of lakes and recreation areas and other things of interest to us. I'll check out the websites you've listed. Don

[cactusflower]

Does any one know if there is a Property Tax Break for Seniors? Some place I read there was for about $29,000 but can't find it.

Am also overjoyed to say we have bought a home in Graves County and will be moving in the 30th.

[Kichenwich]

Congrats, cactusflower! You are coming at the right time-the flowers are blooming, and everything is starting to bud out. Best wishes and enjoy your KY home!

[suncoastman]

Originally Posted by cactusflower

Am also overjoyed to say we have bought a home in Graves County and will be moving in the 30th.

Hey, that's great ! Glad you were able to find something to your liking.

Good luck in your new home.

God Bless.

Joe

[nalabama]

cactusflower, here is what I found regarding real property taxes in the Kentucky constitution and statutes:

There shall be exempt from taxation...real property maintained as the permanent residence of the owner, who is sixty-five years of age or older...up to the assessed valuation of sixty-five hundred dollars on said residence and contiguous real property....Every person filing an application for exemption under the homestead exemption provision must be sixty-five (65) years of age or older during the year for which application is made...the sixty-five hundred dollars ($6,500) exemption shall be construed to mean sixty-five hundred dollars ($6,500) in terms of the purchasing power of the dollar in 1972.

Some additional benefits for seniors that popped up in the search:

A senior/disabled combination hunting and fishing license, which authorizes the holder to perform all acts valid under a sport fishing license, a sport hunting license, or a state permit to take deer, turkey, trout, waterfowl, or migratory shore or upland game birds, and which shall be available to a Kentucky resident who is...Sixty-five (65) years of age or older....


There is established within the Cabinet for Health and Family Services a statewide Senior and Physically Disabled Adult Discount Program for the purpose of making retail goods and services available at reduced rates to the Commonwealth's senior citizens...extending discounts on their merchandise or services to ...citizens sixty (60) years of age and older.

When any person sixty-five (65) years of age or older, who is a resident of the Commonwealth, is admitted and enrolls as a student in any state-supported institution of higher learning in this Commonwealth, the board of trustees of the institution or other appropriate institution officials shall waive all tuition charges and fees for such student, except as provided in subsection (2) of this section...(2) In the event that classes are full or the granting of free admission requires additional units, the institution may deny admission under this section.

Nothing came up of note regarding Kentucky's personal property taxes and seniors...maybe somebody else knows of something.

[Cattknap]

I went onto the KY revenue web page and sent them an email - that is how I found out about the $41,100 tax exemption on pension income....they responded within a couple of days each of the two times I've emailed them with questions.

[cactusflower]

I got smart and asked the Realtor. For any one interested, $29,400 comes off in taxes if you are 65. That is better than Florida. My Aunt only gets $25,000 off.