The U.S.’s Biggest Brain Magnets – Forbes Magazine
Forbes listed our city as Number 4 on the list of “America’s Biggest Brain Magnets.” A relatively low cost of living combined with Nashville’s prestige as a desirable place to live makes it a hotspot for young minds to come and work for the growing job market, especially in the healthcare industry. The list was ranked by the increase in college graduates compared to the population over 25 years of age between 2007 and 2009. The affordable price of real estate in Nashville seems to be a significant contributing factor to the city’s high ranking, as college grads find that housing prices can negate the bigger paychecks they may be able to earn in cities like New York or Los Angeles.
State and Local Tax Burdens – The Tax Foundation
Each year, the Tax Foundation compiles a ranking of tax burdens by state. The report takes the annual amount of state and local taxes the average resident pays and divides that by average income per capita. By this calculation, the average Tennessean pays only 7.6 percent of income in taxes each year, making our state the fourth lowest in terms of tax burdens in the United States! Only Alaska and Nevada had lower burdens, and South Dakota tied with Tennessee at 7.6 percent. The national average was 9.8 percent, with New Jersey topping the list with a tax burden of 12.2 percent of income.
Source: The Tax Foundation