One of the significant reasons Tellico Village is one of the best places to retire is its affordability, thanks largely to its state of Tennessee location. In any given year, Tennessee has one of the lowest costs of living in the country. This is the perfect environment for active adults to stretch their retirement dollars and find a great new retirement home.
The benefits of this low cost of living are evident to Tellico Village residents who enjoy an outstanding lifestyle with a minimal impact on their retirement savings. Much of this has to do with the limited or low taxes placed on Tennesseans. Here’s a quick summary:
– No state income tax;
– No state estate tax;
– No personal property taxes (The state does not tax your cars, boats, jet skis, etc.);
– No school taxes (Investment in education is covered with property taxes);
– Low gasoline, diesel fuel and tobacco taxes;
– Lowest per capita property taxes in the country;
– Sales tax of 9% (Basically, a consumption tax; the more you spend, the more tax you pay. The total sales tax varies by county.)
Combine this low tax situation with a community that stresses financial solvency, and you have a winning location. Tellico Village is a wonderful place for active adults who want to concentrate on enjoying this phase of their life unencumbered by financial concerns.
Tellico Village’s monthly assessment includes membership to all three of the private championship golf courses and Yacht Club. There are no additional initiation fees and no monthly spending minimums. Assessments are the same for all residents and presently are about $118 per month. The Village offers potential residents a wide range of existing homes and buildable lots at varying price levels.
Throughout its history, Tellico Village has benefited from careful management of its resources and strong strategic planning. The result is one of the most financially sound and stable active adult communities in the nation.