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Fri, Dec 19, 2014

La Vergne Named Affordable City by CNN Money

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Money magazine has selected the 25 most affordable places to live and La Vergne, Tennessee is No. 13 on the list.

According to the August article published by CNN Money, “Residents who live in these 25 growing towns see their incomes go the furthest.”

The article stated, “For country music fans, it’s good enough just to know that La Vergne is one long Texas two-step from Nashville, but it has many attractions beyond music. Boaters and fishermen are drawn to the 14,000-acre Percy Priest Lake for recreation, parents to the highly-rated schools and everyone finds the low taxes here hard to resist.”

While the June decision to increase the tax rate, along with additional water and sewer fees, has not been without local controversy, the city remains very affordable on a national scale.

CNN Money lists the median home price at $106,400 and the median family income at $64,043, so the city is viewed nationally as very affordable.

Time magazine recently reported the most expensive place to live is Passaic County, New Jersey because the annual property tax burden is $7,939, or 9.7 percent of the median income of $82,038.

By comparison, La Vergne property taxes for a $106,400 house would be $923 p/year (including city and county taxes), or 1.4 percent of the median income of $64,043.

“This is a huge achievement for La Vergne,” Mayor Senna Mosley said. ”We must not lose sight of the bigger picture as we grow into a town with adequate fire and police protection, healthy infrastructure, and great programs for our citizens. I am incredibly proud that we are the 13th most affordable place to live in the United States.”

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