U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Tennessee
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
Old 06-22-2006, 03:09 PM
 
14 posts, read 50,967 times
Reputation: 29
Default Taxes In Tn

Can anyone who lives there tell me what taxes are in Tn? Are they high taxes? Do you have a state tax? City? County?
The taxes here in NJ are being raised..again. A recent survey showed a lot of People are moving out of NJ because of the high prices,taxes,morgages,insurance and moving to the Carolina's, TN, and KY
In process of planning my move to Tn as we speak.
Georgette
Reply With Quote Quick reply to this message

 
Old 06-22-2006, 04:27 PM
 
Location: Nashville, TN
957 posts, read 2,319,821 times
Reputation: 399
Quote:
Originally Posted by Gloucester City
Can anyone who lives there tell me what taxes are in Tn? Are they high taxes? Do you have a state tax? City? County?
The taxes here in NJ are being raised..again. A recent survey showed a lot of People are moving out of NJ because of the high prices,taxes,morgages,insurance and moving to the Carolina's, TN, and KY
In process of planning my move to Tn as we speak.
Georgette
There is no state income tax. Property taxes go to the county and city if inside city limits, but those taxes are literally a fraction of what I pay here in NH. I'm also shopping for real estate as we speak. My needs are somewhat unique, so finding something suitable isn't easy.
Reply With Quote Quick reply to this message
 
Old 06-22-2006, 05:01 PM
 
14 posts, read 50,967 times
Reputation: 29
Default Taxes in Tn

Thanks Rossc.
I have found a website that might help thoses planning on relocating to Tn

http://www.nashvillechamber.com/relocation/newresident.html#Taxes (broken link)

http://www.nashvilleareainfo.com/def...e=CostOfLiving
I learned a bit from those sites


Quote:
Originally Posted by rossc
There is no state income tax. Property taxes go to the county and city if inside city limits, but those taxes are literally a fraction of what I pay here in NH. I'm also shopping for real estate as we speak. My needs are somewhat unique, so finding something suitable isn't easy.
Reply With Quote Quick reply to this message
 
Old 06-22-2006, 07:20 PM
 
45 posts, read 183,607 times
Reputation: 27
Default Tennessee taxes

We, too, are relocating to Tennessee. No, there is no state income tax. But there is a state tax on investment income: CDs, stock market dividends, et al. That is offset by a standard deductible. The tax is not applicable to retirement funds such as IRAs and 401Ks.
Sales taxes, however, depending on what state you live in, may seem high, averaging around 10 percent. We pay 6 percent now. In Campbell County northwest of Knoxville, where we are relocating, there is about an 8.5 percent tax on food, too, something we do not have here in Florida.
The flip side is that our homeowner's insurance will be about 25 percent of what we pay in Fla., and real estate taxes are ridiculously low, compared to what we are used to paying.
We feel it is a net net situation for us, plus the opportunity to live in a truly beautiful state with friendly folks.
All the info you seek is on the internet. Pick your spot and just plug in the area and all the information is readily availabale.
Cheers,
Maggie
Reply With Quote Quick reply to this message
 
Old 06-22-2006, 07:49 PM
 
303 posts, read 992,237 times
Reputation: 114
bought 6 1/2 acres in hawkins Co. last year. taxes are around $300.00 for the year. good luck in your search
Reply With Quote Quick reply to this message
 
Old 06-25-2006, 07:30 AM
 
176 posts, read 555,117 times
Reputation: 116
Default You're better off with

slightly higher sales tax than a combination sales/income tax. Why? Well, when Tennessee first considered a state income tax (since rejected) they proposed a bottom rate of 4%. I was shocked. Why so high? Think about it....any time you start up a new tax you must hire personnel, rent space, buy equipment,etc. so 4% probably just covers these start-up costs. With a sales tax, those things are already in place.

Suppose you buy $30,000 worth of taxable goods and services in a year. A 2% increase in the sales tax means another $600. So what? Better that than an income tax that starts at 4% of all your earnings and works its way up from there.

I can't complain about my Tennessee sales or property taxes....especially since I left New York- $11,000 property taxes going up 8-12% a year. No thanks!
Reply With Quote Quick reply to this message
 
Old 06-25-2006, 08:27 AM
 
Location: Nashville, TN
957 posts, read 2,319,821 times
Reputation: 399
I'm all for a sales tax. Personally, I'd rather pay 10% sales tax than an income tax or high property taxes. Sales tax is something they can not force you to pay. It's entirely your choice. Don't want to pay the tax, don't buy the product. The tax man isn't going to take your house or sieze your bank accounts because you didn't pay your sales tax "quota".
Reply With Quote Quick reply to this message
 
Old 06-30-2006, 04:30 PM
 
3 posts, read 14,079 times
Reputation: 14
When we lived in VA, we had property tax out the wazoo. On vehicles especially. Plus the cost of the vehicle inspections each year. In Tn, we love not having to worry about inspections, wheel taxes (we are in Morgan Co) or vehicle property tax. The only taxes are on our home.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Tennessee
Similar Threads
View detailed profiles of:

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top