2. Yeah, they don’t have a state income tax, but there’s a catch
One of the reasons that people decide to retire in Florida is because there are no state income taxes. That sounds great, doesn’t it? It does until you learn that there’s a catch to it.
State and local taxes can end up taking up to half of your savings, while both average more than 7% in Florida. And, if you decide to purchase a new car, things can get even more complicated.
The state sales tax, which is 6%, will apply to the entire purchase price. But that’s not all, fees can add up as well.
7 thoughts on “9 Reasons You Shouldn’t Retire In Florida”
No thank you. I have problems where I live now in Tennessee, but those sound much worse.
I have another reason not to move there and his name is Ron De Santis
I love it.
Been to FL three times in Motorhome in the Winter. Bugs were terrible. Very expensive.
I lived in Florida for 60 years & finally escaped to North Carolina after retirement. Everything mentioned in article is absolutely true. The primary reason for my departure was the unbearable heat & humidity which seemed to bother me more as I aged.
So very glad I don’t live there anymore.
This article is so biased I can’t believe a word. My pool costs me about $20 a month and is a bargain. No bugs, fewer wierdos than any other state, cleaner, spacier, and hot; yes, but certainly bearable. Better value, better governance, and I carry no house insurance. I self insure, and after 10 years, am far ahead. I may get caught, but can afford it. Tennis, golf year round. What’s not to like. Leo Pfeiffer leopfeiffer@aol.com
I’ve lived in Florida for the last thirty years , and I wouldn’t live anywhere else . I’m originally from Buffalo NY and would never go back to live there .