Schools/Cost of Living - Morristown/Hardin Valley

[Serious Conversation]

The unemployment rate in Morristown is still hovering between the high 6% - low 8% range. Unemployment, employment, and the amount of people in the labor force are all declining. This isn't indicative of a healthy community. Either the community is aging (likely) and more people are retiring than are entering the workforce, people are existing without work (largely via government assistance, private charity, and the underground economy), or people are outright leaving the community (your prime working age people probably are leaving). Sure, there is some nice outdoor recreation there, and it's fairly close to Knoxville, but there are healthier communities near Knoxville where you have access to a better economy and also everything that Morristown offers.

[Dhult]

Originally Posted by CHAIN5

Essentially my thinking came from things people have said about TN, things I've read, and a bit of research at the beginning. And I lived in TN for 2 years (though that was ages ago).

As for why TN would be cheaper than other states, that's what I've been trying to find out. People say TN is a good place to live and is less expensive, but, here's a comparison to consider...

If I made $50,000 in Eastern PA, I could maintain the same standard of living in Corbin, KY for about $40,000, but in Signal Mountain, TN that salary would have to increase to nearly $60,000.

Yet, where I live now, Corbin, and Signal Mountain all supposedly have excellent schools. Off memory, Signal Mtn. ranks in the top 10 in the state's rankings. Corbin and our school in PA are high ranking on US News & World Reports. The dollar goes further in some places in comparison to others.

As for "best services", what you may consider best and what I consider best may be completely different. Maybe Signal Mtn. has every amenity under the sun, while Corbin can't even fill their potholes (totally made that up, don't hate me ). I don't know yet, that's why I'm researching and asking questions.

There are a few things to consider that others didn't touch on. Some stated it is funny how others think they can come to Tennessee have a lower cost of living and still have the same level of services and great schools.

They only touched on one side of the equation.

Yes, many can simply come and trade out the services for less, live in a poor school district and lower there cost of living by moving. It doesn't have to be. You don't have to move rural in TN to lower your cost of living.

There is another side that doesn't have to suffer a loss of good schools, can cut their cost of living and have the same type of services. It really depends on your status now and where you are moving from.

TN can be a lower cost state without giving up services. It is most certainly one of the lowest taxed states even living in great school districts compared to many places.

I could leave my state, buy a bigger house in Tennessee in great location for less money, excellent schools. I could take a 39% cut in salary and still maintain the same standard of living according to all the different calculators I've looked at. If my income didn't change, that's a huge bump. If your job wasn't tied to location that's a big plus if you keep the same salary.

Along with that, I pay state taxes where I'm at now. If I moved to TN I would get to keep those funds.

Property Taxes could be much less comparably to the person moving to TN. You can get a lot more property for your buck in TN than you can in many states. It's not on the lowest end of states but it is nowhere near the high end. Instead of increasing my footage but stayed the same or even downsized I could save a lot.

Actually, Those funds that I would have spent on state taxes in my current state would actually cover my property taxes and much more in TN.

From what I gather, I probably wouldn't have to pay that 300 dollars for my tags each year on my car.

I would have to pay tax on food but most of the products I looked at cost lower, So it is basically a wash for me and not that big of a deal. Sales tax on everything else is the only higher cost I see that I would have to pay.

Basically what I'm getting at is if you are doing good financially in a higher cost state and receiving city type services, and have great schools, you can lower your cost of living and keep those same services by moving to area of TN that also offers those same services.

If you are just making it in your current state, you might just be making it in TN too but you should be paying lower in taxes and fees than most states.

Heck, I just went and bought this years fishing license in my state. Over 50 bucks. TN pays $28.00
I know, small thing but many of those small things add up. There are many recurring fees like that which are a lot cheaper TN.

I could take every service and I think it would cost a lot more where I currently am located. Water! If I don't use a single drop of water in a month( turned it off at the house), my minimum bill is still around $55 bucks just for being hooked up.

On and On....

[JetAgeHobo]

An example of moving FROM Morristown to other areas of the country.

Lived in a 2 bed 2 bath apartment, decent size, with garage, basement, washer dryer hookups, etc. Not sure square footage but plenty of room.

Got a job offer in St. Louis, had to get about 15K more a year just to break even considering cost of living, rent, taxes, insurance etc.

Got another job offer in California, had to double my salary from what I was making in Morristown to break even, considering rent, taxes etc. Only thing cheaper in California is fresh veggies, which for some reason in Morristown is pretty expensive considering. We did solve that though by putting in a small garden, cut grocery bill somewhat.

And where I live now, water/sewer is 115/month. Actual water usage, maybe 20 bucks, but rest is "connection fees" interesting on how they get you for connection fees.