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In the South there is always warmth in our hearts, music in the air and lots of delicious food on the table. Needless to say, it’s all about the pure joy of being with our spirited mix of family and friends. I own a real estate firm here and so many of my clients tell me all the same reasons listed above, I guess is does not matter so much where you live as long as you are happy and have loved ones to share in that happiness with! NC has a lot to offer..we are headed to the beach tomorrow..only 2 hours away and warm sandy beaches... Come on down!
Tried Eastern Tennessee? Johnson City - ETSU UT at Knoxville
Yes, looked at Tennessee. If I recall correctly, the tax situation wasn't as good as NC. Sales tax in NC is 4.5% (plus local - Asheville is 2.5%) - in Tennessee it is 7% plus local (Johnson City is 2.5%). We would be on a fixed income, so sales tax, property tax, and income tax need to be low, in that order.
Link: State Sales Tax Rates (http://www.taxadmin.org/FTA/rate/sales.html - broken link)
But homes were less expensive.
Income tax (state) in NC is 6% to 8.25%. In Tennessee it is Limited to Dividends and Interest Income Only - except if you are retired and living on stock income!
The Tennessee income tax does not apply to salaries and wages, but most income from stocks, bonds and notes receivable is taxable at a flat rate of 6 percent.
Link: Individual Income Tax Rates-2007 (http://www.taxadmin.org/FTA/rate/ind_inc.html - broken link)
This is a good page for state tax information: State taxes
Property tax in Tennessee (Johnson City) is $3.93/$1,000 assessed value. On a $300,000 home, then, takes would be $1,179.
Site: TN Comptroller of the Treasury - Division of Property Assessments - 2006 Property Tax Rates (http://www.comptroller1.state.tn.us/PAnew/LR.asp?W=06 - broken link)
I'm going to run a few numbers and see what really looks lower... brb
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OK, if we have a $300,000 home and spend $50,000 a year on taxable items and assuming all our income is taxable, then Tennessee is still less expensive ($400 a year!) than North Carolina. I have a new place to look - thanks!!
Last edited by Father John; 06-14-2007 at 03:30 PM..
i wouldnt base a decision based on just taxes. live where you want to live, right?
Of course! But when retired and on a fixed income, one MUST look at taxes, costs of living, and similar matters (and health care, too). Taxes might just be a tie-breaker. They sure aren't the driver of this bus!
As the Tennessee income tax does not apply to salaries and wages, items of income such as Social Security and pension income are not subject to state tax. Tenn. Code Ann. Section 67-2-104(m) provides that income from stocks and bonds of pension trusts and profit-sharing trusts which are exempt from federal income taxation shall be exempt from the state income tax. This includes such accounts as IRA and 401(k) accounts. Distributions from IRAs and 401(k) plans are also exempt. Individual Income Tax (http://www.state.tn.us/revenue//faqs/indincome.htm#hall3 - broken link)
With no income tax, it would cost me roughly $5,443 less in taxes to live in Tennessee than in North Carolina, based on a $300,000 home and spending $50,000 a year (and I would likely spend less than that on taxable items, meaning an even greater savings). Almost all of that savings is income tax as the property tax and sales tax are almost a wash.
I will be looking more closely at Tennessee. What have I got to lose?
The State general rate of sales and use tax will decrease from 4.25% to 4% effective July 1, 2007. As a result, the combined State and local sales and use tax will decrease from 6.75% to 6.5% in all counties except Mecklenburg.
The State general rate of sales and use tax will decrease from 4.25% to 4% effective July 1, 2007. As a result, the combined State and local sales and use tax will decrease from 6.75% to 6.5% in all counties except Mecklenburg.
I just accepted a job with a newspaper in eastern North Carolina. This relocation to North Carolina offers me the opportunity to live like an independent adult. (The average starting wage for a journalist is $25,000 to $28,000, depending on location.) I chose to accept this job because it offered an excellent learning environment, a decent salary and an attractive benefits package. (I have a friend who works metro area newspaper in MI who told me her benefits don't include a 401K plan). I couldn't pay rent and utilities, and my student loans, not if I wanted to eat more than Ramen noodles. I thought college guaranteed you a little better than that. Since that's not the case in Chicago, I went out looking for it. Seems like I found it.
English family looking for some friendly US advice.
Hi There,
I currently work in England in the motorsport industry and have been offered a job which revolves around NASCAR.
I have been asked to move near to Charlotte as that is where most of the teams are based (in or around that area).
I have American realatives but they are from California and have no great knowledge of North Carolina. I am obviously nervous as we will not know anybody and I am concerned for my fiance and 3 month old daughter being isolated at home whilst I travel the state during the day.
We come from a town in England that has a population of 200,000 people, my potential new boss has recommended Mooresville as a nice place to live. I was a tad concerned when I saw the population was only 20,000, this is a big difference from what we are used too and you guys have more land over there in your great country.
My Fiance is from Yorkshire in England, a friendly bubbly character and we are decent people, my hobbies are martial arts and spending as much time with my daughter as possible. I guess I dont really know what I am asking or the information I am looking for, just a bit a comfort that we are going to be giving a chance to fit into our local community.
I have no experience of America and you hear rumours that foreigners are not always welcome! I apologise if this offends anyone but I wanted you to understand the "hear say" that praps misinformed people tell you.
Please help and offer some advice, I would be really happy for any information and to chat to people from NC.
I currently work in England in the motorsport industry and have been offered a job which revolves around NASCAR.
I have been asked to move near to Charlotte as that is where most of the teams are based (in or around that area).
I have American realatives but they are from California and have no great knowledge of North Carolina. I am obviously nervous as we will not know anybody and I am concerned for my fiance and 3 month old daughter being isolated at home whilst I travel the state during the day.
We come from a town in England that has a population of 200,000 people, my potential new boss has recommended Mooresville as a nice place to live. I was a tad concerned when I saw the population was only 20,000, this is a big difference from what we are used too and you guys have more land over there in your great country.
My Fiance is from Yorkshire in England, a friendly bubbly character and we are decent people, my hobbies are martial arts and spending as much time with my daughter as possible. I guess I dont really know what I am asking or the information I am looking for, just a bit a comfort that we are going to be giving a chance to fit into our local community.
I have no experience of America and you hear rumours that foreigners are not always welcome! I apologise if this offends anyone but I wanted you to understand the "hear say" that praps misinformed people tell you.
Please help and offer some advice, I would be really happy for any information and to chat to people from NC.
Thanks Oakey-j
Mooresville is a great area and Charlotte is not to far at all. Plenty of young familys and not remote you way you may think.If you are going to work for a team Mooresville is probably you better bet but there are other surrounding areas you can live and still not drive to far to work in Mooresville. Look into Davidson,Cornelius,Huntersville as well.
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English family looking for some friendly US advice.
