If you’re thinking of retiring soon, the first thing you should do is congratulate yourself on reaching this important and exciting life milestone.
You now have an opportunity to let your relaxation be your top priority, and after a lifetime of work, that’s something to take pride in. Once you’re done reveling in the glory of forthcoming retirement, it is time to get serious about choosing where you will live out your golden years. Nashville, Tennessee is a city that definitely needs to be on your list – if it isn’t already.
Known as the “Music City,” Nashville is famous for country music, culture and a lively vibe. What some may not realize, however, is that Nashville is also a great place for retirees. The city itself is surrounded by quiet suburbs lined with homes that have a small-town feel. The climate is great as well – Nashville is warm virtually year round, with an annual average high of 70 degrees and an annual low of just 49 degrees.
Nashville is tax-friendly for retirees
According to financial services company WalletHub’s 2018 tax burden rankings Tennessee is ranked 48th out of the 50 states for tax burden. By extension, Nashville, is also one of the most tax-friendly places to live for seniors.
Tennessee is just one of a few states that does not have an income tax, which means more of what you earn can stay in your pocket. Public and private pensions are also not taxed. Additionally, seniors who reside in Nashville can apply for property tax relief if they have an annual income of less than $41,780 per year. This tax break freezes your property tax rate at whatever the rate it is at the time of purchase. Currently, the Davidson County property tax rate is $3.155 per $100 of assessed value in the Urban Services District, and $2.755 per $100 in the General Services District. Some of the surroundIng counties are even lower, I can help you determine which areas best fits your individual needs.
For any additional information, please contact myself or Barbara Thompson Senior Care Advocate. It always a good idea to start with visiting their website www.seniorhomes.com an organization dedicated to supporting senior citizens and their families. Our mission is to raise awareness about the available care options and resources that can help seniors stay connected with their community.
….”You’ve Got a Friend in Real Estate”
Jarod Tanksley 615.403.8265
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Brentview Realty 615.373.2814