January 19th, 2015
Tennessee is an ideal location for a land purchase. Whether you are buying for investment reasons, or simply for relocation or retirement, there are numerous reasons why you should consider buying land in Tennessee.
No state income tax
Per TN Department of Revenue
Very low property & county taxes
Tax Foundation: Facts & Figures 2013
Ranked 49th on the State/Local Tax Burden Per Capita(2010)
Very low cost of living
In “America’s Top States for Business 2013”, CNBC ranked Tennessee 2nd for cost of living and best for taxes”.
Death tax repealed. Governor Bill Haslam continuing to make Tennessee a low tax state and claims it as cheap to die in TN as it is in FL.
Per Forbes article, TN voted to phase out its estate tax on May 29, 2012 over the period 2012-2016. In 2016, the estate tax will be repealed.
TN has been named one of the top states for business
In a 2011 report, Forbes ranked Tennessee 21st in the “Best States for Business”.
In a 2013 report, CNBC ranked Tennessee 13th in “America’s Top States for Business”
Bureau of Labor Statistics: February unemployment rate of 6.9% compared to national average of 6.7%.
Per Business Facilities (magazine), TN was named the “2013 State of the Year.”