Town third in Tennessee in retiree tax friendliness

Town of Farragut ranked No. 3 among cities and towns in Tennessee for retirement tax friendliness.

In its fifth annual study recently released, SmartAsset analyzed sales, property, income, fuel and Social Security tax data to rank locations on how financially favorable they are for retirees.

The study analyzes a retiree with $50,000 in annual income to see how much they would pay in income, property, sales and fuel taxes.

Using the above income, a Farragut citizen would pay $4,362 in income tax annually, an estimated $1,118 in sales tax, $342 in fuel tax plus a property tax rate of .54 percent (with no Town property tax).

Farragut ranked behind Fairfield Glade, which was No. 1, and runner-up Tellico Village.