What Taxes Do You Save By Moving To Florida?

What Taxes Do You Save By Moving To Florida

Are you considering a change in scenery and thinking about moving to Florida? Not only does the Sunshine State offer beautiful beaches, an enviable climate, and a variety of cultures, but it’s also one of the most tax-friendly states in the U.S. It’s no wonder many are searching for reputable moving companies in Florida, to help them make the big move. Here’s a rundown of the tax savings you can expect when you move to Florida.

No State Income Tax: A Major Perk

The most significant tax benefit you’ll encounter when moving to Florida is the absence of a state income tax. For those coming from states with high income tax rates, this can mean substantial savings. No state income tax means more of your earnings stay in your pocket, and for retirees, this means your pension and social security income stretch further.

Estate and Inheritance Tax Breaks

Another tax advantage is Florida’s lack of estate and inheritance taxes. This is a relief to those concerned about the financial legacy they will leave to their heirs. Without these taxes, the process of passing on assets is less taxing on your loved ones, quite literally.

Property Tax Advantages

While Florida does have property taxes, the state offers several exemptions that can reduce the taxable value of your home. The homestead exemption can decrease your property’s taxable value by up to $50,000 for a primary residence, and there are additional exemptions for seniors, veterans, and the disabled.

Sales Tax Considerations

Florida’s state sales tax rate sits at 6%, which is about average compared to other states. However, unlike some states, Florida does not impose a state sales tax on essential items like groceries and prescription drugs, which is a day-to-day saving.

Personal Property Tax

Florida does not tax intangible personal property like stocks and bonds, which is a boon for investors. This lack of tax on intangible goods can mean a considerable financial saving for those with significant investments in these types of assets.

Moving To Florida – What To Expect?

If the tax advantages have convinced you to make a move, you’re likely thinking about a place to move to in Florida. We recommend Jenson Beach as it is one of the best places to live in Florida. It has a small-town feel in general, but with Stuart and Port St. Lucie nearby. So you also get to enjoy the city-life as well. 

When planning your relocation, here are some steps you can expect in the process:

1. Finding the Right Moving Company

The right moving company can make all the difference in your relocation experience. Look for Jensen Beach movers with positive reviews, reliable customer service, and transparent pricing.

2. Planning and Packing

A good Jensen Beach moving company will help you plan and pack, providing tips and supplies to ensure your belongings are safe during the transition.

3. The Big Move

Whether you’re moving across the state or from out of state, your Jensen Beach moving company should ensure that the move is as smooth and stress-free as possible.

4. Unpacking and Settling In

After arriving in Florida, the process of unpacking and making your new house a home begins. Professional movers can often help with this process too, if needed.

Making the Move with Brooks Moving and Hauling

If you’re ready to enjoy the tax savings that come with living in Florida, partnering with a reliable moving company is essential. Brooks Moving and Hauling is your go-to service when it comes to moving companies in Florida.

With years of experience and a deep understanding of the ins and outs of moving, Brooks Moving and Hauling stands out from other moving companies in Florida. Here’s why you should consider us for your move to Florida:

Personalized Service

Brooks Moving and Hauling takes pride in offering personalized service that caters to your specific moving needs. We understand that every move is unique and provide solutions tailored to your requirements.

Expertise and Reliability

Our team of professionals is not only skilled in the art of moving but also reliable. We value your time and possessions, ensuring everything is transported safely and efficiently.

Comprehensive Services

From packing to hauling to unpacking, we offer comprehensive services to cover all aspects of your moving process. Our goal is to make your transition to Florida as smooth as possible.

Transparent Pricing

With Brooks Moving and Hauling, you won’t have to worry about hidden fees or surprises. We offer transparent pricing so you can budget for your move with confidence.

In conclusion, moving to Florida can offer significant tax benefits that can improve your financial well-being. And when you’re ready to make the move, choosing a trusted partner like Brooks Moving and Hauling can provide peace of mind, knowing that your move is in good hands. 

Our commitment to customer satisfaction and quality service makes us the ideal choice for anyone looking for not just local Jensen Beach movers but movers for other places and counties in Florida as well. Contact us today for a free estimate and let us welcome you to Florida, where the sun shines brighter!