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Florida
Reply to "Hello from the Sunshine State!"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Libs hate Florida because people are happy. [/quote] +1. [/quote] Libs love FL and are committed to change. Moving here is a great opportunity to make the world a better place for our grandkids. Not to mention the beautiful weather and the [b]tax breaks. [/b]My many liberal friends don’t come from a place of hate. Your comment is the direct opposite of what is going on. We love it here. We are living an active healthy lifestyle and love the beaches and the restaurants and have met some fabulous people. [/quote] Is there really much of a tax break now? I understand there is no income tax, but the property tax, insurance, gas tax, etc makes up the difference, does it? I was in Florida this weekend and had to refuel my rental. The gas was $5.69 for regular. Yikes. How much is the sales and hospitality tax, such for eating out? Does Florida have a homestead exemption to save on the property tax? I am imagine that would help to reduce the high property tax. [/quote] Yes, there is a tax break. No income tax (which made a huge difference in my 70K salary) and the homestead exemption. Where were you paying 5.69 for gas? I just paid 3.39 this morning. Car insurance is more though! I have not had the experience of rising homeowners insurance, perhaps because of where I live and age of my home. I do understand others are having rising rates though. But my electricity rate is low compared to where I came from. I'd like to get solar at some point.[/quote] The homestead exemption doesn’t help in the first 10 years or so. She will still pay the 1.8% property tax per year (based on purchase price). The exemption just protects her from increases of property taxes as the assessed value of the home increases over the years/decades. So if her modest ranch house in Coral Gables costs $2M, her annual property taxes are $36,000. This amount can only increase 2-3% per year. That’s not nothing, especially for a modest house.[/quote]
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