[taxcontrol]

Retirement/Income tax
Tennessee does not tax retirement income. Georgia does not tax retirement income until it exceeds $130,000 per couple. Neither tax SS income. So if your retirement income is less than $130,000 / year then there is no difference on the income tax. Above that amount, the Georgia tax rate is 5.5% - Tennessee 0

Property Tax
Georgia 0.93 (low)
Tennessee 0.75 (very low)

Analysis provided free of charge and comes backed by a money back “garrentee”.

[TexasGator]

So many details left out of your post t make it impossible to evaluate.

[Tell It Right]

Georgia has a $65K per person income deduction for retirees. So if you're married you and your spouse have to have at least $130K in income to be taxed by Georgia. However, you have to be 65 years old. Otherwise you'll pay up to 6% on state income tax in Georgia on taxable income.

And Tennessee has no income tax.

So if you're at least 65 and have a taxable income less than $65K ($130K if married), then income tax wise there's no difference between Tennessee and Georgia because both are $0.

I've researched this because my wife and I think about retiring to the same area in a few years. But it's off the table if Georgia or Tennessee force their residents to root for the Dawgs or Vols. :)

[Stevenc131]

Property tax varies a lot by county in GA. Many counties have generous prop. tax breaks for those in the 65-70 year old range (i.e. little or no school tax and other breaks). However, there are some counties that don’t offer much in the way of prop. tax breaks for Seniors, so you just have to research county by county since it can make a big difference.

[CptnObvious]

Sales tax is higher in Tennessee; 9.46% vs 6%

Many counties in Georgia drop school taxes and bonds from property taxes after age 62 (as of January 1st). Our Property taxes went from $1600 to $500. TN gives a break to seniors over 65 but limit the income to $29,180. There is NO INCOME limit to LOSE THE PROPERTY TAX BREAK IN GEORGIA.

TN has a lower Property Tax rate than Georgia, but the above may make the difference.

[LibWhacker]

Lots of interesting comments on the topic here. Don't know much about Georgia myself. My wife and I have been considering Tennessee, me more than her. So it doesn't look likely.

[FtrPilot]

As Tell It Right states, "Georgia has a $65K per person income deduction for retirees." So, if either spouse has retirement income above $65K then it is taxed. For example, if one spouse has retirement income of $75K and the other spouse has retirement income of $45K, then $10K would be taxable. However, Georgia exemptions and deductions still apply. Tax on $10K would not be very much.

Another tax break for seniors is the school tax exemption in some Georgia counties where people over 62 or 65 don't pay school taxes that would be included in property taxes.

Here's a link that covers counties in the Atlanta area:

Tax Breaks for Seniors

[Trumpet 1]

North Georgia near the Tenn. North Carolina boarder area has many ultra low price houses for sale. Toccoa Georgia real estate is incredible. Rural areas near Dalton in West Ga. to Taccoa in east Ga. are all very nice and affordable for those who want to move to the slower side of life.

[DugwayDuke]

Have you considered Alabama? Right next door. Does not tax social security. Does not tax military retirements or government retirements. Does tax IRA or 401K withdrawals.

[Kickass Conservative]

Which State will turn Purple (of it isn’t already) then Blue first?

That is what’s kept us out of AZ and NV after escaping Commiefornia. They were on the list but times have changed.

We are temporarily living in the Free State of MS due to Family being here. Our final Retirement destination is still up in the air.

I’m thinking Georgia will turn true Blue sooner than TN, but I could be wrong.

[109ACS]

Georgia doesn’t tax distributions from IRAs, pensions or Social Security. With the high exemptions from other income, I’ll never pay Georgia income tax.

My mother lived in Tennessee and although she paid no income tax there, she had to pay over $1000 per year because they taxed her bank and securities accounts (I guess it was some sort of ad valorem tax). I guess they like to punish people who saved their money all their life.

As a veteran, I have a free Georgia driver’s license and pay nothing for tags for my 2 vehicles. They appreciate veterans and retirees.

Move to Georgia and you will be welcomed here.

[MayflowerMadam]

We retired in east TN. When we came in 2010, investment income was taxed. It still is, but the percentage decreases each year. I think our tax guy said it would reach 0% in a couple more years.

Sales tax is high, but we’re not big spenders so it isn’t an issue for us.

We considered Georgia because they have Kaiser Healthcare which we had in CA, and we loved it. Hubby got hired here in TN, though, so our choice was made for us.

We like the Bible Belt vibes here. We visit family in GA, north of Atlanta, and it’s very beautiful but congested. House prices seem to be about the same.

[GizzyGirl]

I’m in CT but planning to leave by end of year. I’ve selected the Chattanooga area as well, a) because I love the tax code in TN, and b) I love the little airport! After reading all these replies I’ll have to look at northern GA now too! It’s a beautiful area, I plan to rent first to make sure I find just the right small town... there are a lot to choose from!!

[moovova]

Bkmk

[Albion Wilde]

Ping!