Florida more expensive than Great Falls? I don't know how anyone plans to retire there

[Anonymous]

Property tax bill much less. We pay over $10k for our little 3 br house in Arlington. Full value assessment.
In Florida they under assess and you get homestead exemption so bill would be maybe half that for a million dollar house.

[Anonymous]

Anonymous wrote:I have a 3M beach front home in Anna Maria Island Florida. As a primary Floridian resident of Manatee county, I pay almost 29K/yr in property tax, almost 40K/yr in home/wind/flood insurance. That almost 2.5% of the cost of my 3M home.

Yeah.

My uncle used to have a gorgeous house on Sanibel Island.

The property literally does not exist anymore thanks to Hurrican Charlie. Sell, sell, sell, sell! Before it's too late!

[Anonymous]

When my parents moved to Florida they looked at elevation maps and picked a high spot about a mile inland. Never flooded in 80 years. Including last year.
Idiots buy on filled land. Or shoreline.

[Anonymous]

My relative was able to sell one home and move to a bigger one in days. Still a hot market.

[Anonymous]

Hurricane season is presto be bad I hope so

Can not wait for no fema and maga to meet

Five generations back Floridian couldn’t pay me to own property there now.

Plus a Destantis is tapping the state treasury there next few years tax rates will increase like crazy . Fun times

[Anonymous]

Anonymous wrote:I have a 3M beach front home in Anna Maria Island Florida. As a primary Floridian resident of Manatee county, I pay almost 29K/yr in property tax, almost 40K/yr in home/wind/flood insurance. That almost 2.5% of the cost of my 3M home.

What do you think you’d pay in taxes and insurance for a home on the Jersey shore? Plus another five figures in state income taxes.

Also a 3 million dollar beach front home isn’t what most retired people are able to purchase.

[Anonymous]

Anonymous wrote:
I have a 3M beach front home in Anna Maria Island Florida. As a primary Floridian resident of Manatee county, I pay almost 29K/yr in property tax, almost 40K/yr in home/wind/flood insurance. That almost 2.5% of the cost of my 3M home.


What do you think you’d pay in taxes and insurance for a home on the Jersey shore? Plus another five figures in state income taxes.

Also a 3 million dollar beach front home isn’t what most retired people are able to purchase.

But most people in retirement (the subject group of the thread) have choices way beyond the Jersey shore and Anna Maria Island, Florida. You threw in the Jersey Shore, but the OP is comparing Great Falls to somewhere in Florida. Stay on topic.

[Anonymous]

Anonymous wrote:When my parents moved to Florida they looked at elevation maps and picked a high spot about a mile inland. Never flooded in 80 years. Including last year.
Idiots buy on filled land. Or shoreline.

High land is a good idea. But the highest land in Florida isn't high enough for what's coming. Never flooded in 80 years is great until you get a 100-year flood, which are happening with a greater frequency.

[Anonymous]

I will say that I have seen a massive increase in inventory from people that bought in 2021-2023 that are now looking to sell.

I don't know if they have to RTO to a company based elsewhere, or they just figured they would try to cash out on an increase...or what.

These are in places where the homeowners' insurance is not particularly high (mostly, Northeast Coast but a bit inland).

I follow some companies that provide housing market analysis and at least their advice is you need to buy in an area where new development can't sink your home value. So, as an example...if you buy in downtown St. Augustine, it's not like there is a bunch of available land to build a new housing development (though you will always compete indirectly with developments 5 miles away).

Whereas, if you buy in some random cookie cutter subdivision, you are at the mercy of the deep pocket homebuilders that will offer all kinds of incentives and lower prices to move product. Those are the places where you are seeing many homes selling for less than their initial sales price in 2022/2023.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There is no income tax in Florida.

Retirees don't have earned income.

Exactly. Why would anyone prefer higher property taxes and no income tax when they're retired? Florida, Texas, Tennessee -- they're all getting you one way or another to pay for the state's budget. That doesn't make them good places to retire.

[Anonymous]

Anonymous wrote:When my parents moved to Florida they looked at elevation maps and picked a high spot about a mile inland. Never flooded in 80 years. Including last year.
Idiots buy on filled land. Or shoreline.

Smart. We bought on a Carolinian coastal island during the pandemic. But only after checking elevation maps, flood zones, and drone footage from the last hurricane. It worked. There was a flood event last year, and our house was high and dry (despite not being on stilts) while the other end of the island was under water for a week.

[Anonymous]

I would never retire in Florida

[Anonymous]

Anonymous wrote:

Anonymous wrote:When my parents moved to Florida they looked at elevation maps and picked a high spot about a mile inland. Never flooded in 80 years. Including last year.
Idiots buy on filled land. Or shoreline.

High land is a good idea. But the highest land in Florida isn't high enough for what's coming. Never flooded in 80 years is great until you get a 100-year flood, which are happening with a greater frequency.

Town had the hundred year flood last year. House fine. 6 blocks away not fine.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When my parents moved to Florida they looked at elevation maps and picked a high spot about a mile inland. Never flooded in 80 years. Including last year.
Idiots buy on filled land. Or shoreline.

High land is a good idea. But the highest land in Florida isn't high enough for what's coming. Never flooded in 80 years is great until you get a 100-year flood, which are happening with a greater frequency.

Town had the hundred year flood last year. House fine. 6 blocks away not fine.

Sounds like your day is coming soon!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no income tax in Florida.

Retirees don't have earned income.

Exactly. Why would anyone prefer higher property taxes and no income tax when they're retired? Florida, Texas, Tennessee -- they're all getting you one way or another to pay for the state's budget. That doesn't make them good places to retire.

Well, to state the obvious…if you have a ton of income in retirement.

Nobody seems to decry people staying put in NY, NJ, IL and a bunch of other places that have both high income and high property taxes.

I am looking at NH which has no income or sales tax, but for 181 days. Want to be somewhere warm in winter.