[NovaRod]

I have a cousin that is currently living in NJ but has suggested retiring in a few years to Tennessee (Chattanooga).

I told him about Alabama and how they don't tax your retirement income and the tax base is about 10x less than NJ. The housing has also stayed reasonable.

Do any of you in TN know the benefits of retiring there?

Rod (He is a GS-13 for the US Army)

 

[ssdeuce]

We have no state income tax. We only have sales tax. 9/5% Hope this helps

 

[Trbulnc]

Retirement income is not taxed either.

 

[JR]

Probably be a good move for him. My sister lives in NJ and they pay a bundle on taxes on their house and land. Everything is higher up there.
JR

Tennessee is the only Place to Be

 

['70GreenMachine]

East TN is really pretty, especially by the mountains. The only thing is wheel tax. That really aggravates me... But no income tax more than makes up for it. I love TN!

 

[Philip]

What is wheel tax? I have been considering moving there in a couple of years to retire. I really need to go out there for a visit to see what it is like. What is the worst time of the year? I want to experience the worst and if I can live with it the rest should be easy.

 

[NovaRod]

Thanks guys! I'll send him the link to this thread so he can see first hand. I also found out today that Alabama doesn't tax military retirees but everyone else is up for grabs.
Rod (Wheel tax?)

 

[Trbulnc]

Wheel tax is a $5 per wheel tax they add in when you purchase tags. ( I think it is still $5). Still beats the heck out of Ky. where they hit you with property tax based on the blue book value of your car every year.

 

[Trbulnc]

What is wheel tax? I have been considering moving there in a couple of years to retire. I really need to go out there for a visit to see what it is like. What is the worst time of the year? I want to experience the worst and if I can live with it the rest should be easy.

I grew up in East Tenn. for 25 years, weather there isn't bad, just has humidity in the summer which makes you sweat, but not as bad as way down south. Winters aren't bad, usually a few snows each winter but it is mostly snow and not ice storms.

Went to school in Nashville and weather there is great, loved it. Hardly any snow, do get some occasional ice and a wind blows during the winter, but it is a really fun city.

 

[SparkysSS]

Retiring to Tennessee

I was thinking of making the move to TENN. or The Carolinas also, Michigan is getting crazy, and going downhill fast!
I've heard thier (Tenn.) utility rates are really reasonable due to the TVA providing them, true or not?
How are property taxes figured? Value of your house, or how?
I got to say its beautiful country down there.
Ya'll come back now, hear!!!

 

[JR]

I was thinking of making the move to TENN. or The Carolinas also, Michigan is getting crazy, and going downhill fast!
I've heard thier (Tenn.) utility rates are really reasonable due to the TVA providing them, true or not?
How are property taxes figured? Value of your house, or how?
I got to say its beautiful country down there.
Ya'll come back now, hear!!!

The wheel tax is called a county fee and varies in each county. It is to keep the roads repaired. Mine is Tag renewal fee $24.00 and county fee $50.75 a year. Tenn. house taxes are based on your est. value of your home but are reasonable. No state income tax on wages.
Tennessee is a great place to be.
JR

 

[jade76]

Wheel tax is a $5 per wheel tax they add in when you purchase tags. ( I think it is still $5). Still beats the heck out of Ky. where they hit you with property tax based on the blue book value of your car every year.

GA too! They call it an advolorum tax here on top of the 7% sales tax. You even get taxed on your State Return the following year if you own property ( I thought that was unconstitutional - Double Taxation - one of the reasons this country was founded in the first place. A little history lesson called the "Boston Tea Party" ).

Fortunately for me, my 76 has no book value so I just pay tag fees! lol

Sounds like TN is more affordable, but what about the job market?

 

[ssdeuce]

Yep this country has gotten out of hand on taxes. We should throw all of our crap in the rivers! I saw in the paper where they are wanting to raise the min wage to like $7.25 hr How about lower people in that tax braket's taxes and keep the pay the same that way our useless crap that we buy will be cheaper.

 

[Pick]

Sounds like TN is more affordable, but what about the job market?

In middle TN at least, the job market is pretty good. Residential and commercial construction is booming. Lots of healthcare businesses are headquartered in Nashville and most are growing. Companies like Nissan and others continue to move their major operations/headquarters here. All in all, things are pretty good. Don't know what you do for a living, but chances are there are opportunities for you here.

 

[jade76]

Pick Quote:

In middle TN at least, the job market is pretty good. Residential and commercial construction is booming. Lots of healthcare businesses are headquartered in Nashville and most are growing. Companies like Nissan and others continue to move their major operations/headquarters here. All in all, things are pretty good. Don't know what you do for a living, but chances are there are opportunities for you here.

Don't sound bad! I've been doing machine operation and auxilliary maintenance for the past 13 years between 2 jobs. First was the Navy, then my last job for 9 years, and now I'm contracting my services. I'm somewhat limited to career since every major company seems to think experience & intelligence is measured by your degree, which I have never had the opportunity to obtain. Other than that, I generally consider myself a mechanical engineer.