How bad is this economy really?

[RS-1080]

Our farm is now worth about the same as we paid for it, but only because we didn't '' over pay '' back when we bought it. If we had, it'd be worth less now. We still owe five more years on it but if it was to fall to half it's current value tomorrow, I'd still pay on it the last five years ...even ten for that matter because I know that it costs money to live, and even paying rent would be costly. Way I see it, in five years we won't have that monthly payment to worry about. I'd much rather pay my yearly 330.00 property taxes than trying to come up with monthly rent money the rest of my life.

[SFLWR]

Your property tax is only 330. ??? I just got my bill for 2100. !!

I thought I read somewhere that TN doesn't have property taxes....is that only in certain places or am I just confused...(easy to do)

[RS-1080]

Originally Posted by SFLWR

Your property tax is only 330. ??? I just got my bill for 2100. !!

I thought I read somewhere that TN doesn't have property taxes....is that only in certain places or am I just confused...(easy to do)

State income tax is what we don't have in TN.


330.00 to me seems sorta high considering I'm only talking about 12 acres. My dad lives just across the county line from me and taxes on his 262 acre farm are barely more than mine. He does pay alittle more for his automobile tag in the next county though. Here, our tags only cost about 24 bucks a year. Been cheap for a long, long time ( I been in this county for two decades ).

[jabogitlu]

But if your property's deemed/zoned agricultural, don't you pay taxes on lesser value? So those figures might be low for the average homeowner. (Then again, the average homeowner's not going to have 12 acres...)

[WOWAddict]

Originally Posted by SFLWR

I thought I read somewhere that TN doesn't have property taxes.

WOW I wish. The only problem there probably wouldn't be any roads, fire, police, air....

We have to pay taxes on air right? Sure seems like we pay taxes for everything.

[SFLWR]

LOL..told ya'll I was easily confused ! But man,my taxes are alot higher ! Yes, I'm sure we pay taxes for everything ....

[JMT]

Originally Posted by SFLWR

Your property tax is only 330. ??? I just got my bill for 2100. !!

I thought I read somewhere that TN doesn't have property taxes....is that only in certain places or am I just confused...(easy to do)

The STATE doesn't have any property taxes, but individual cities and counties do. But as has already been stated, they're pretty low. Memphis has the highest property taxes in the state, by far, but it's still lower than what most people up in the Northeast of the country pay.

Your local property taxes also pay for schools. Some states have special school taxes. Not here. We have lower gasoline taxes than most other states, too.

Tennessee also has extremely low car tag fees, something like $24/year no matter what kind of car you drive. Some counties add on a wheel tax, and of course vanity plates cost a bit more, too. I live in Knox County which has a wheel tax, and I have a special plate (Smoky Mountains) and it's still only $90/year. In Mississippi I was paying over $400/year for the privilege of having an ordinary Mississippi license plate on my car.

[SFLWR]

oh yea, just paid 118. on my truck taxes...but I think it's on what kind of car you drive here, the value of it. More for the fancy plates, but mine is plain so I don't know how much more.

[Wingz]

Originally Posted by JMT

In Mississippi I was paying over $400/year for the privilege of having an ordinary Mississippi license plate on my car.

Wow!!! Mississippi has a low per capita income. $400 car tags must be a hardship for many people.