Not just ocean and sunshine. One of the smartest financial moves in the US — point by point, with the numbers.
01 — The big idea
Sunshine is a bonus. Money is the point.
Many move to Florida for the weather. They stay for the numbers at year-end.
Here the state takes no tax on your income. It leaves your pension and investments alone. It protects your home. And it keeps your property tax in check, year after year.
It all adds up to real thousands of dollars — every year you live here. Below is exactly what, and how much.
“Florida doesn’t just skip the extra. It gives back what other states take in taxes.”
%
0% income tax
Homestead breaks
Asset protection
Wealth growth
02 — Income taxes
Four zeros in your favor
0%
Florida is one of the few states with no income tax at all. For comparison: New York — up to ≈10.9%, California — up to 13.3%.
%
Salary & business income — 0%
The state takes no tax on your wages, self-employment, or company income.
Retirement & benefits — no state tax
Social Security, pensions, 401(k) and IRA withdrawals, military pay — untaxed by the state.
Capital gains & investments — 0% (state)
Selling stocks or property at a profit, dividends, interest — the state takes no share.
Inheritance — no state tax
No estate or inheritance tax. Your wealth stays in the family.
03 — Your home
Your home grows, the tax barely does
For a primary home (homestead), Florida runs three mechanisms at once that keep your property tax down, year after year.
−$50k
Homestead Exemption
Up to ~$50,000 of assessed value comes off the tax rolls. Roughly $750–$1,000 saved a year.
+3%
Save Our Homes
Your taxable assessment rises no more than 3% a year — even in a hot market.
$500k
Portability
Carry your built-up benefit (up to $500,000) to your next Florida home.
The longer you own, the wider the gap — and the more you save.
04 — Asset protection
Your home is protected
Florida’s constitution shields your primary home from most creditors and lawsuits — with no cap on home value (up to ½ acre in a city / 160 acres outside). Not a tax break — protection of your wealth.
Extra exemptions
Personal breaks too
65+
An extra exemption for seniors within income limits.
Veterans
Separate breaks; with a disability — up to full exemption.
Disability
Additional property-tax exemptions.
Widows & widowers
A small additional exemption on request.
05 — Everyday, family & business
Savings you don’t see at first
Groceries & medicine — no sales tax
Basic groceries and prescription drugs are exempt. Sales tax is 6% state, ~7% on average with local.
No annual car tax
Florida has no yearly personal-property tax on cars like some states. Just a modest registration.
Kids: in-state tuition
Bright Futures scholarship, Florida Prepaid, and in-state tuition after a year of residency — tens of thousands over 4 years.
Business: LLC & S-corp — no state income tax
Pass-through income from LLCs and S-corps isn’t taxed by the state. Only C-corps pay 5.5%.
06 — What’s ahead
A window until Dec 31, 2026
Florida is preparing a major amendment that could exempt up to $250,000 of your home’s value from most property tax — on top of today’s homestead break.
Those who become Florida residents before December 31, 2026 get the full break. Later — a reduced exemption and a 5-year wait.
Note: this isn’t law yet. Voters decide on the November 3, 2026 ballot (60% needed). That’s exactly why the date is worth keeping in mind now.
How to lock in residency in time
What to do now
1
Make Florida your main home
Domicile is where you actually live most of the year. Residency starts there.
2
Florida license & car registration
Get a state driver’s license and re-register your car — one of the key proofs.
3
Register to vote
Registering as a Florida voter adds weight to your residency.
4
File a Declaration of Domicile
A domicile declaration in your county officially fixes Florida as your permanent home.
5
File homestead by March 1
The homestead exemption is filed on the home that became your primary residence by Jan 1. In time — you get the break for the whole year.
Next step
Planning a move to Florida?
JULIA LYSENKO
Your mortgage broker · Just My Loans, LLC
NMLS #2569569
Book a free consultation. We’ll map out exactly what you’ll save in Florida, what residency takes, and how to pair it with buying a home.
JULIA LYSENKO · JUST MY LOANS, LLC · NMLS #2569569 · @JULIALYSENKOPRO
This material is for information only and is not financial, legal, or tax advice. Specific exemptions, amounts, and requirements depend on your county, income, and situation and may change. The 2026 amendment referenced is not current law and takes effect only if approved by Florida voters.
