Sell me on KY vs TN (Lexington, Louisville: sales, crime rates, homes)

[kydc]

Hi, I am coming back to this forum as my moving research is continuing and I feel my family is closer to making a decision. We are a hard working conservative family who appreciates freedom, likes a rural setting with reasonable access to amenities should our children need them as they grow. We are looking for a mountain view, while not being between two mountains- so a mixture of pasture and mountain access. We enjoy hiking, waterfalls, creeks, etc. We are seriously looking from the London area down toward Knoxville. A few questions we have are:

With all the TN "hype" (it's so cheap to live there, a homesteading paradise, etc.), what would make KY a better choice?

What counties around this area in KY (I'm thinking London is better for jobs than Williamsburg?) offer affordable land with the pasture/mountain view and access mixture, and would allow for us to have a large role in building our own home while possibly staying in an rv on the land until its completion (few restrictions)?

Thanks for any and all help.

[Geneyus]

TN doesn't have an income tax. That matters to financially-savvy people. Other than that, I'm not sure I need to sell you on our state. Both states are nice.

[eddie gein]

Kentucky gives you significantly less exposure to the color Orange...

That would do it for me.

[jjbradleynyc]

Having visited Kentucky regularly as a kid but being from Tennessee, (my mother is from KY) I did appreciate how beautiful the landscape in the bluegrass region truly is. Lexington - Frankfort and the surrounding areas are just beautiful.

Eastern Kentucky is not my idea of a nice area though, and I wouldn't advise anyone to choose to move there honestly, due to the lack of jobs and poverty (east of I-75).

But the rest of the state offers some beautiful landscape and nice small towns for quiet living.

Lexington is a great city for its size, and Louisville is a hidden gem in a lot of respects.

[TodGre]

I'm curious to know the same. I too was starting my search around the London area of KY. I'm also considering (besides TN), Ozarks region in Missouri as well (trying to figure out if KY or MO would be better), interested in a more rural setting not too far from amenities also, but with hills/mountains too.

[hogsettfinancial]

You don't say your age, or how close to retirement you are. If your income is already low or you will be retiring soon, Kentucky may be better tax wise. Kentucky has a pretty generous exemption on retirement income, and I believe property taxes to be MUCH lower here than TN.

Lexington area is nice but property values are way too high for homesteading unless you already have big savings. Somerset is a couple hours south. I would head in that direction until property prices are to your liking.

[Serious Conversation]

Let me put it this way.

TN has no state income tax. That, in and of itself, leads to a positive TN bias without considering total taxation. Yes, no tax on earned income is big, but that doesn't mean it's going to be the best tax choice for all folks.

TN sales taxes are pushing 10% in most counties. The tax on food is, I think, is 5.5%. Alcohol and tobacco taxes are notably higher than VA/NC, and maybe higher than KY.

TN also has notably higher crime rates than KY, overall.

Lexington is clean as a pin, nice little city. Certainly cleaner, friendlier, but smaller than Knoxville.

Louisville is one of my favorite cities in the country. Memphis has the river city feel, but I'm not sure it has the youth/somewhat grassroots liberal vision Louisville does. Oldham County gets you most of the Williamson County lifestyle at a fraction of the cost.

I wouldn't live in eastern KY - especially any east of I-75, for the most part. The best parts of the state are the Bluegrass. EKY doesn't have the beautiful mountains that WNC, VA, or even parts of ETN do. You also have big issues with poverty, unemployment, and all sorts of social issues.

[Jzer21]

Originally Posted by kydc

We are looking for a mountain view, while not being between two mountains- so a mixture of pasture and mountain access.

Then your question isn't TN vs KY, it's eastern TN vs eastern KY and that's a much easier question to answer. I can't fathom a parent willingly moving his children to Eastern Kentucky.

[hogsettfinancial]

Note concerning my above post: TN's actual property tax rate is not the high rates they list. (they have a high rate, but then only charge it on 25% of the homes value. What?) The result is that it puts them more in line with other states in that regard.

The lack of state income tax gives TN a slight edge tax wise, but if you end up preferring KY, keep in mind: Taxes on retirement income can be very low here. - No tax on Social Security, and you can have up to $32K in retirement withdrawals/ Pension each year free of state tax. So depending upon income, retirees may not pay state income tax.

[Peter1948]

Originally Posted by Serious Conversation

Let me put it this way.

TN has no state income tax. That, in and of itself, leads to a positive TN bias without considering total taxation. Yes, no tax on earned income is big, but that doesn't mean it's going to be the best tax choice for all folks.

TN sales taxes are pushing 10% in most counties. The tax on food is, I think, is 5.5%. Alcohol and tobacco taxes are notably higher than VA/NC, and maybe higher than KY.

TN also has notably higher crime rates than KY, overall.

Lexington is clean as a pin, nice little city. Certainly cleaner, friendlier, but smaller than Knoxville.

Louisville is one of my favorite cities in the country. Memphis has the river city feel, but I'm not sure it has the youth/somewhat grassroots liberal vision Louisville does. Oldham County gets you most of the Williamson County lifestyle at a fraction of the cost.

I wouldn't live in eastern KY - especially any east of I-75, for the most part. The best parts of the state are the Bluegrass. EKY doesn't have the beautiful mountains that WNC, VA, or even parts of ETN do. You also have big issues with poverty, unemployment, and all sorts of social issues.

THIS...basically Louisville has everything Nashville does without the glitz and glamour or pro sports, but half the cost and no traffic.

Louisville's pro situation may change. We finally got a tier one pro sport (women's soccer), and the men's soccer club is the highest level Tier 1B. I fully expect MLS or NBA here in the next 5 years. However, we are an overgrown college city in Louisville, and locals love that.