Moving to Florida
Florida Taxes Explained
Florida's Tax Advantage Is Real
The absence of a state income tax is the single biggest financial reason high earners and retirees flock to Florida. But the full tax picture is even more favorable when you factor in property tax exemptions, the Save Our Homes cap, and zero estate taxes.
📋 No State Income Tax
Florida is one of only 9 states with zero state income tax. For a household earning $100K+, this is typically $4,000–$8,000 in annual savings compared to states like New York, California, or Illinois.
📋 Property Tax Rate
Florida's average effective property tax rate is ~0.89%, below the national average of 1.07%. However, rates vary by county — Orange County is ~0.94%, Osceola is ~0.94%, and Polk is ~0.86%.
📋 Homestead Exemption
Primary residents can claim a $25,000–$50,000 homestead exemption on their property's assessed value, saving $500–$1,000+ annually. You must apply by March 1 of the first year.
📋 Save Our Homes Cap
Once you have a homestead exemption, your assessed value can only increase by 3% or the CPI rate (whichever is lower) per year — even in hot markets.
📋 Sales Tax
Florida's state sales tax is 6%, with counties adding 0.5–2.5% on top. Most areas total 6.5–7.5%. Groceries and prescription drugs are exempt.
📋 No Inheritance or Estate Tax
Florida has eliminated its estate tax and has no inheritance tax. This makes it especially attractive for wealth transfer and retirement planning.
Questions About Florida's Tax Benefits?
Jason can connect you with local CPAs and tax advisors who specialize in Florida relocation planning.
Call Jason — 407-412-3174