Home For Sale: Low Tax States, Like Florida, Luring Residents from High Tax States Like New York

There are many tax advantages to living in Florida, such as the Homestead laws. This is one of the reasons that many of my people are relocating from the Northeast of the United States to the southern portion of the country.

According to Reuters News, some of the states with the largest population gains from the 2010 U.S. Census are also known as low-tax states; these states include Florida, Texas and Nevada.

Imagine if you were a family of four with a $150,000 income. According to TurboTax, the family could save $13,368 in state and local income taxes if they moved from New York to Florida. The family could save even more when property taxes and estate taxes are included.

Retirees benefit greatly, as many have money invested in tax-deferred retirement accounts; they would profit if withdrawing the money in a low-tax state.

Florida real estate becoming much more affordable when compared with several years prior when the state was experiencing a "bubble" in pricing. As such, now is a great time to look for a second home and/or a home to retire to in the "Sunshine State".

I am a Realtor who knows the various types of communities in South Florida. If you are thinking of selling or buying a home, please feel free to contact me.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100

http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser

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