Retirement Communities Tennessee

Retirement Communities Tennessee. Here’s a place you may not have considered when trying to find the perfect place to retire. It has a lot of retirement options that many people are finding very appealing.



Here are some things worth considering before you decide on Tennessee Real Estate:

• No state property tax – although there are local property taxes collected.

• No State Income Tax – there is the Hall Income Tax that is imposed strictly on Bonds and Dividends from stock.

• If Affordability is an issue, Tennessee’s eleven cities rank well below the national average for cost of living and housing costs are among the lowest in the nation..

• Convenient Central Location – You’re within a day’s drive of 2/3s of the population of the United States

• If you enjoy boating, fishing and hiking, Tennessee has 54 State Parks which have nearly 167,000137,302 acres. There is an abundance of water resources in 33 major reservoirs (500,000 acres)- all of which are open to the public. There are 19,000 miles of streams and rivers and thousands of small lakes and ponds,

• If you enjoy sports, Tennessee is home to 3 professional sports teams – The Memphis Grizzlies (NBA), the Nashville Predators (NHL) and the Tennessee Titans (NFL). There are also several minor league baseball teams with the Memphis Red Birds (St. Louis Cardinal AAA affiliate), Jackson Diamond Jaxx (Seattle Mariners AA Affiliate), the Nashville Sounds (Milwaukee Brewers AAA Affiliate), the Chattanooga Look-Outs (Cincinnati Reds AA Affiliate) and the Tennessee Smokies (Chicago Cubs AA Affiliate). There’s also Bristol International Raceway, the state's premier racing facility, it’s the home of six major NASCAR events and the site of NASCAR's fall night race.

• Most people don’t think about Golf when they think about Tennessee but Tennessee ranks 20th among the states in the number of private golf courses and 38th overall. • There are more than 222 public golf courses suited to all levels of abilities, including many championship courses. And why not enjoy the scenery while your golfing? Tennessee golfers are treated to some of the most spectacular scenery in the nation, from the Mississippi River to the eastern Tennessee Mountains.

• Four Distinct Seasons - Tennessee enjoys a generally mild climate with the average low temperature in January in the mid 30’s to an average high temperature in July in the upper 70’s to low 80’s.

Some of the most popular cities and towns for retirees looking for retirement communities Tennessee are:

• Crossville - has been named in several magazines as one of their best places to retire. It's 2 hours from Nashville, an hour from Knoxville, and and hour 20 min from Chattanooga.

• Paris - Many seniors are attracted to this southern town of 10,000 people for its low crime rate and reasonable housing costs.

• Chattanooga - In the very southeast corner of the state is a midsize city with loads of amenities including hiking and biking trails, an aquarium and a thriving local arts scene.

But, like with any choice, make sure you do your homework and that one of the Retirement Communities Tennessee is right for you.

For a list of Active Adult Communities in Tennessee, visit our page on Active Adult Communities in Tennessee.

Median Home Price: $110,198

Personal Income Tax: No

Sales Tax: Yes
Tennessee levies a 7% sales tax. Most food is taxed at 5.5% with the exception of candy, dietary supplements and prepared food which are taxed at 7% There are also Local sales taxes with rates that vary from 1.5% to 2.75%.

Property Tax: Yes
Tennessee does not have a homestead exemption. However, there is a property tax relief program for the elderly, disabled and/or veterans. Program requirements may be found at the Tennessee Comptroller's Web site. Property Assessments are based on a percentage of fair market value of the property and varies according to statutory classifications based on actual or potential use:
Residential property at 25 percent.
Farm property at 25 percent.
Commercial and industrial property at 40 percent.
Public utility property at 55 percent.
Business personal property at 30 percent.

Inheritance and Estate Tax: Yes
Tennessee imposes an inheritance tax on decedents' estates that exceed maximum single exemption limits.

For More Information: Contact the Tennessee Department of Revenue Service Center website

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