DeSoto County vs Shelby (Olive Branch, Memphis: estate, incomes, home)

[JSwift]

We presently reside in the Memphis area & have an opportunity to purchase a home in the Olive Branch / Desoto County area.
The state income tax is what concerns us. People say that overall, when considering sales, state income, real-estate, property, etc taxes, it's a trade-off & that it all evens out in the end between the two counties...but that extra 5% still hurts coming out of the paycheck.

Are there tax advantages to living in Mississippi?

Thanks

[Starshine480]

We don't have all the taxes Shelby County does like road tax, wheel tax, etc. Seems like we hear of new taxes being added every month in Shelby County. Our car tags are higher when you buy a new car, but that's the only disadvantage I can see to see to living here. I don't see where it evens out at all, but I could be wrong. Of course, in DeSoto County the older your car the cheaper the tags.

My husband and I built a home here back in the early 80's so our twin girls wouldn't have to go to school in Memphis.

[tennreb]

Originally Posted by JSwift

We presently reside in the Memphis area & have an opportunity to purchase a home in the Olive Branch / Desoto County area.
The state income tax is what concerns us. People say that overall, when considering sales, state income, real-estate, property, etc taxes, it's a trade-off & that it all evens out in the end between the two counties...but that extra 5% still hurts coming out of the paycheck.

Are there tax advantages to living in Mississippi?

Thanks

It depends on your income and spending habits. Generally speaking, Tennessee favors those with higher incomes and DeSoto favors those with lower incomes who spend a higher share of their income on their home. That's why you don't see a lot of wealthy people in DeSoto County but a much larger middle class.