Tennessee has become the place to relocate to over the past few years. In fact, more people moved to Tennessee than any other state in 2020! There are many reasons for this including its diverse types of beautiful scenery and its mild climate with all four seasons. However, the most convincing reason for many is how tax-friendly it is! Tennessee’s tax system is a highly ranked system that is favored by many Americans. According to CNN Money, Tennessee is the 3rd most tax-friendly state in the USA. So, let’s break down this state’s taxes!
- No Individual Income Taxes
- State Sales Tax is only 7%
- Lowest property taxes in the US at 0.64%
- TN recently repealed the interest and dividends tax
Overall, Tennessee’s local tax burden, as a percentage of income, is 8.5% in Tennessee! Not bad, right? Plus, there’s a low cost of living, so you’re not only saving money through your taxes, but also on your expenses!
Interested in learning more about moving to Tennessee? Click here!
So, you’ve decided to move to Tennessee, but where should you live? The state has so many amazing cities that it’s hard to decide! At WindRiver, we love our location in Lenoir City. Our gated community is found on Tellico Lake and has beautiful views of the Smoky Mountains. We’re also conveniently located to other areas including Downtown Knoxville, Chattanooga, Atlanta, and more! In addition, our residents indulge in our on-site amenities including dining, a luxury golf course, and a sports and pool complex! If WindRiver intrigues you, check out our website for more information.