Thinking about Nashville - and becoming overwhelemed! (Franklin, Waverly: for sale, house)

[brentwoodgirl]

Originally Posted by groovamos

Not sure about this. Would it be fair to say that sales taxes are "much much" less here than in TN, rate-wise and none on food? Or that state income taxes are "much much" less here than in TN? TX does not tax investment income like TN, so in reality zero really IS "much much" less. And wealthy Californians are choosing to move to TX in greater numbers (per capita) than TN maybe for this reason among others.

You guys have to realize because of TennCare generosity, and resultant TennCare fraud (200,000 out-of-staters helping themselves to your tax revenue*) your taxes are higher than in TX. We somewhat reduce the difference by medically treating and incarcerating more illegals than you do up there, per capita.

*last time I saw a story on this, when Bredesen was in office.

Groov- The real estate taxes in TX are much higher. For instance, houses in Franklin on the market for $225-$230K have taxes around $1300 per year. Houses for the same price in Southlake, TX, have taxes around $6,500 per year. That's almost a $500 a month difference, so it could have a big impact on what they can afford.

If there is another tax that you think is higher in TN that would offset that savings, I think it would be great for you to post it. Knowing all the costs before moving would be great.
But TN is 47th in the nation for tax burden, so I don't think most of the other tax differences would be enough to offset the high real estate tax.

My post wasn't a dig at TX, just information so the OP can consider her price range as she picks where to live.

[groovamos]

Originally Posted by brentwoodgirl

Groov- The real estate taxes in TX are much higher. For instance, houses in Franklin on the market for $225-$230K have taxes around $1300 per year. Houses for the same price in Southlake, TX, have taxes around $6,500 per year. That's almost a $500 a month difference, so it could have a big impact on what they can afford.
....
My post wasn't a dig at TX, just information so the OP can consider her price range as she picks where to live.

My house in the Timbergrove section of Houston has a county appraisal of $252,000, and since I'm in Colorado at the moment, I'm computing the taxes from the rates at HCAD.org site. I have the homestead exemption which has not been mentioned so far in this discussion. Zillow pegs my valuation at $265K, and both entities show my square footage 150 less than it is.

My computation comes to $4942, and since I have the exemption, (20% discount) I'm assessed $3953.

If my house were in the USD of Nashville ($4.13 per $100), I would be paying $10,415. Look here and calculate for yourself: Assessor of Property for Davidson County TN -Estimate Your Taxes

Here is an example from my street, you can total up the dollars per $100 valuation and see that it is much less than the $4.13 of Nashville/Davidson:

Hcad Acct: 0771820260025

This is why Californians do a double take and then decide to move to TX. They can live here for half the cost or less, with almost the same number of major international airports and sports teams, if not the beauty or weather. And I think TennCare is really sending much of your tax money out-of-state, unfortunately. The recipients and their offspring live in all of the states around TN that have lower sales tax, and have a friend or relative in TN where they can receive official mail concerning the healthcare generosities not so available in their area.

[JMT]

Originally Posted by groovamos

My house in the Timbergrove section of Houston has a county appraisal of $252,000, and since I'm in Colorado at the moment, I'm computing the taxes from the rates at HCAD.org site. I have the homestead exemption which has not been mentioned so far in this discussion. Zillow pegs my valuation at $265K, and both entities show my square footage 150 less than it is.

My computation comes to $4942, and since I have the exemption, (20% discount) I'm assessed $3953.

If my house were in the USD of Nashville ($4.13 per $100), I would be paying $10,415. Look here and calculate for yourself: Assessor of Property for Davidson County TN -Estimate Your Taxes

Here is an example from my street, you can total up the dollars per $100 valuation and see that it is much less than the $4.13 of Nashville/Davidson:

Hcad Acct: 0771820260025

This is why Californians do a double take and then decide to move to TX. They can live here for half the cost or less, with almost the same number of major international airports and sports teams, if not the beauty or weather. And I think TennCare is really sending much of your tax money out-of-state, unfortunately. At any rate I really love Tennessee as do most Texans.

Nope. Tennessee's property taxes are 25% of the appraised value (40% for businesses). So the Nashville property tax on a $252k home would be 25% of what you wrote, or $2,601.90 ($252k divided by $100, then 25% of that, then multiplied by $4.13).

The Tax Foundation lists Tennessee 47th in the country in over-all tax burden, and Texas is ranked 45th. So they're very, very similar, although Tennessee has a slightly lower tax burden.

[Inkpoe]

Originally Posted by groovamos

My house in the Timbergrove section of Houston has a county appraisal of $252,000, and since I'm in Colorado at the moment, I'm computing the taxes from the rates at HCAD.org site. I have the homestead exemption which has not been mentioned so far in this discussion. Zillow pegs my valuation at $265K, and both entities show my square footage 150 less than it is.

My computation comes to $4942, and since I have the exemption, (20% discount) I'm assessed $3953.


If my house were in the USD of Nashville ($4.13 per $100), I would be paying $10,415. Look here and calculate for yourself: Assessor of Property for Davidson County TN -Estimate Your Taxes

Honestly, I did the calculations as per what you said (265K)... How did you come up with 10,415 dollars? Because the most I came up with was around around 6K and that was with the property classification of "Public utility".

[groovamos]

OK you guys win on that one, I didn't actually use the site calculator. But I'm not seeing the drastic difference that was cited by BWgirl, $500/month or something. It is more like $110/month, and for that I guess I'm paying for sports venues, educating and medically treating illegals, and the convenience of flying outta here nonstop to several continents (2 hours to Cancun). Not to mention the "toy train" a powerful minority here wants to build out and has been doing so using my money (gotta do it because, well Atlanta & Dallas make us look bad). But, I don't have the state of TX breathing down my neck about my investments which are a large part of my income.

[CountryGirl2b=]

Davidson County, where Nashville is located, has a different tax rate than Williamson County, where Brentwood and Franklin are located. A $265,000 house in Franklin would have a yearly tax bill of around $2,000. Without your Homestead Exemption (does everyone get that?) it would be a savings of $3,000 a year. At worst it's half the price.

UPDATE: That's too high - I think it'd be more like $1,550 . . . sorry. Never do math before coffee!

[BirdieBelle]

Originally Posted by groovamos

paying for sports venues, educating and medically treating illegals, and the convenience of flying outta here nonstop to several continents (2 hours to Cancun). Not to mention the "toy train" a powerful minority here wants to build out and has been doing so using my money (gotta do it because, well Atlanta & Dallas make us look bad). But, I don't have the state of TX breathing down my neck about my investments which are a large part of my income.

It would be more helpful to your argument if you could discuss taxes without all the hyperbole. The things you deride all contribute to the quality of life that is bringing people to this area in droves (your thoughts on illegals notwithstanding). Nashville is more comparable to Austin than Houston anyway. Williamson County has our share of wealthy Californians, if that matters, seeing that 80% of the execs transferred from there with the relocations of Mars Petcare and Nissan HQ, plus those who came with Jackson Nat'l Life. Besides, if being 2 hours from Cancun is a plus for you, so be it.

I'll take the sports teams and the hundreds of thousands they contribute to local charities and the very high sales tax dollars visitors spend when they attend events at those venues (not just sports).

[PTN96]

We live in Murfreesboro in Rutherford County and we love our community and the schools our children attend. Both of their school rate 9 on the Great Schools website. Our property taxes on a 2900 sq foot home with 4 BR/3BA runs around $2200 as we pay both city and county taxes and can thus decide between 2 schools for our elementary age child. Our home is valued around 235,000. The same home with the same lot in the DFW area would be around $275,000 and have between $5000-$7000 in property taxes. At least that is what we are finding as we prepare for a possible relocation to Dallas.

I am still looking for our "Murfreesboro" in the Dallas area. Good luck with your search.

[groovamos]

Originally Posted by Wmsn4Life

It would be more helpful to your argument if you could discuss taxes without all the hyperbole.
.

I'm not seeing hyperbole that you do. You want to explain that? Could it be this use of the term hyperbole is hyperbole? I add information and speculation as to why things are in a large American city, and this is a city site. Did you guys happen to know that the street level train system they have built here and are expanding was VOTED DOWN and they built it anyway? My comment reflected that by using the common moniker "toy train" that everyone uses on the unlikely occasion when the train is even mentioned at all, since I never hear of anyone in my circle using it. You do hear about it on the news (quite frequently) when it collides with motor vehicles. Now some of you in Nashville know more about it than before sorry 'bout that.

Was I deriding my dollars going to sports venues? Or maybe flying to Cancun in 2 hours is hyperbole or derision? Please clarify. Some of my property tax DOES go to the airports and venues wouldn't one think? Or thanks offered that another large government body doesn't get access to my financial records? I felt pulled into this discussion because if one thinks that it costs $500/month more in property taxes here than in Nashville that could be thought of as hyperbole, although I wouldn't use the term. So if we ARE paying more it must go somewhere, and the drain on resources by illegals is a front burner issue in border states which we are. Why discuss taxes and shun reference to this? I take every opportunity to bring up abusive and destructive trends on this board. Its just the way I am.

You're welcome to not read my posts friend. Sorry you find the time I put into them unhelpful or offensive. And for those interested the 20% tax abatement for homestead exemption applies to the home you own and occupy. There are further abatements for the elderly.

[CountryGirl2b=]

Thanks for the info about the Homestead Exemption. Does that deter people from becoming landlords? Our HOA prohibits renting out the houses if you bought after a certain date. Am sure it's done anyway though.