In any given year, Tennessee always seems to have one of the lowest costs of living in the country. This is an ideal environment for active adults who are looking to stretch their retirement dollars. Tellico Village definitely has more for your money.
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 is a quick summary of the taxes you will and will not find in the state:
- No state income tax
- No state estate tax
- No personal property taxes (the state does not tax your cars, boats, jet ski’s, etc)
- No school taxes (investment in education is covered by 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 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. It’s a perfect place for active adults to concentrate on enjoying this phase of their lives unencumbered by financial concerns.
