New to Real Estate · Clarksville, TN · Member since 2019 · 36 posts · 9 votes
Hello all: I'm a rookie landlord living in Clarksville, TN. Houses are going for over appraisal value sometimes and it's been hard to get an accepted offer on SFHs. Was looking at Oak Grove, KY, right across the state line. But... I REALLY don't want to have to file KY state tax forms, considering in TN we don't have to file state taxes. I know there is something call tax reciprocity, but not sure if it applies in TN.
I don't know the landlord/ tenant laws in KY either. Has anyone lived in TN and rented in KY? What are the tax issues/ differences? Thanks
I am of the understanding that KY does not have tax reciprocity with TN, so you would have to file a non-resident tax return for KY for any taxable income you make in KY.
Related question... How do rents & vacancy compare in Oak Grove vs Clarksville? With the aforementioned taxes, if the rents and property class are lower, affordable may also mean less bang for your buck.
Rents are lower in Ky. Come to our Clarksville Meetup June 24th @6:30PM at 25 Jefferson St.
Thanks for the invite, I'm in Austin but will try to make it someday. If you need a great electrician in Clarksville, let me know and I'll get you in touch with my son.