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Old 05-05-2012, 07:38 PM
 
Location: The Conterminous United States
22,584 posts, read 54,262,993 times
Reputation: 13615

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Quote:
Originally Posted by GraniteStater View Post
For example: Silicon Valley, Route 128 corridor Boston, for very specialized high tech positions, Los Alamos, New Mexico, etc.
Oak Ridge, Tenn...

That area - and UTKnoxville has a partnership with Oak Ridge Laboratory - has a high amount of PhDs.

And then factor in the low cost of living...

I've lived in Mass. and I've lived in Florida and no matter how I slice it, from the moment I moved to Knoxville I have had more money in my pocket. Period.

Quote:
Originally Posted by countrydoctn View Post
All I can say is...WOW...and compared to other states where I have lived, yes it is very high. WHY? I have no idea. But do they ever decrease is my question?
What the heck?

If you are responding to the OP, he was wrong.

Tennessee has low property taxes and, once again, Tennessee is DEAD LAST for tax burden.
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Old 05-05-2012, 09:45 PM
 
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New Mexico and Louisiana typically have the lowest property tax rates in the country. And if you're used to a state that doesn't tax clothes and groceries and gives you tax credits because you have a lot of kids then I guess you could argue TN does have "high' taxes.
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Old 05-06-2012, 09:31 AM
 
Location: The Conterminous United States
22,584 posts, read 54,262,993 times
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Quote:
Originally Posted by md21722 View Post
New Mexico and Louisiana typically have the lowest property tax rates in the country. And if you're used to a state that doesn't tax clothes and groceries and gives you tax credits because you have a lot of kids then I guess you could argue TN does have "high' taxes.
Tennessee is 37th in the country in property taxes, New Mexico is 40th, so not much different, really. Louisiana is indeed, 48th.

But, once again, Tennessee is DEAD LAST in tax burden in the country. That means that, as a whole, taxes are the lowest here.

Regarding credits for kids, it doesn't matter if you don't pay state taxes, does it? AND IN TENNESSEE ONE DOES NOT PAY STATE TAX!

http://www.taxfoundation.org/taxdata/show/28017.html
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Old 05-06-2012, 09:36 AM
 
Location: The Conterminous United States
22,584 posts, read 54,262,993 times
Reputation: 13615
Why is TN property tax so high?-fullscreen-capture-562012-113451-am.bmp.jpg

Tennessee is dead last in tax burden!

And here's the best part...depending on where you live you can actually get a great bang for your buck. I enjoy great schools, amazing parks, police, fire, services! And the economy is great. I'm earning the most amount of money in my lifetime, higher than Mass. and Florida.
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Old 05-06-2012, 10:33 AM
 
643 posts, read 2,384,818 times
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Quote:
Originally Posted by hiknapster View Post
Tennessee is 37th in the country in property taxes, New Mexico is 40th, so not much different, really. Louisiana is indeed, 48th.

But, once again, Tennessee is DEAD LAST in tax burden in the country. That means that, as a whole, taxes are the lowest here.

Regarding credits for kids, it doesn't matter if you don't pay state taxes, does it? AND IN TENNESSEE ONE DOES NOT PAY STATE TAX!

The Tax Foundation - Property Taxes on Owner-Occupied Housing as Percentage of Median Home Value, by State, Calendar Year 2010
Yes it does matter, because some folks pay no state income tax and still get refunds because of tax credits....

I'm not disagreeing you that Tennessee has the lowest tax burden for many people, but for some, the regressive sales tax and lack of tax credits means the tax burden is higher than in other states.
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Old 05-06-2012, 03:58 PM
 
Location: The Conterminous United States
22,584 posts, read 54,262,993 times
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Quote:
Originally Posted by md21722 View Post
Yes it does matter, because some folks pay no state income tax and still get refunds because of tax credits....

I'm not disagreeing you that Tennessee has the lowest tax burden for many people, but for some, the regressive sales tax and lack of tax credits means the tax burden is higher than in other states.
The earned income tax credit that you get for having kids comes from the fed and it makes no difference what state you live in.

And no, the tax burden is not higher here than in other states. How many links do I and JMT have to give you? I understand you are saying for some, but your tax credits for having kids statement makes no sense.
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Old 05-06-2012, 05:40 PM
 
643 posts, read 2,384,818 times
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The tax burden for lower income families in TN is NOT lower than in every other state. You can show me whatever links you want. Here's one for you. Go to itepnet.org and look at "Who Pays?" You'll see that states that rely heavily on sales taxes cause lower incomes to pay a higher percentage of their income in taxes than those that do not. Plus, some states offer their own low income tax credits in addition to the federal tax credits.
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Old 05-08-2012, 06:00 AM
 
Location: The Conterminous United States
22,584 posts, read 54,262,993 times
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Quote:
Originally Posted by md21722 View Post
The tax burden for lower income families in TN is NOT lower than in every other state. You can show me whatever links you want. Here's one for you. Go to itepnet.org and look at "Who Pays?" You'll see that states that rely heavily on sales taxes cause lower incomes to pay a higher percentage of their income in taxes than those that do not. Plus, some states offer their own low income tax credits in addition to the federal tax credits.
There are not EITCs in states without an income tax. Washington - the state - passed one but never enacted it. Regarding your link, it does not say that Tennessee has less of a tax burden than other states regarding low-income families. There is no rank. And I will tell you that I have been in some of the lowest tax brackets while living in Tenn. At some point I was well-below the poverty level. I still come out far, far ahead compared to when I lived in Mass. and Florida.
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Old 05-08-2012, 08:30 AM
 
643 posts, read 2,384,818 times
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Quote:
Originally Posted by hiknapster View Post
There are not EITCs in states without an income tax. Washington - the state - passed one but never enacted it. Regarding your link, [bold=it does not say that Tennessee has less of a tax burden than other states regarding low-income families. There is no rank. And I will tell you that I have been in some of the lowest tax brackets while living in Tenn. At some point I was well-below the poverty level. I still come out far, far ahead compared to when I lived in Mass. and Florida.
That's exactly my point. Because TN does not have the lowest tax burden for all income groups. For the lowest incomes, TN is not the lowest, and even for the highest income families, TN taxes are higher than other states.
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Old 05-08-2012, 11:46 AM
 
Location: The Conterminous United States
22,584 posts, read 54,262,993 times
Reputation: 13615
Quote:
Originally Posted by md21722 View Post
That's exactly my point. Because TN does not have the lowest tax burden for all income groups. For the lowest incomes, TN is not the lowest, and even for the highest income families, TN taxes are higher than other states.
Yes, it does. Tennessee has the lowest tax burden of all the states.

I give up.
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