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Florida remains the #1 destination for retirees for a reason. Zero state income tax is just the beginning. Learn how to optimize your withdrawals for the Sunshine State.
Florida has no state income tax. That means no tax on Social Security, pensions, IRAs, or 401(k) withdrawals. For a $60k/year withdrawal, you save ~$3k+ vs moderate tax states.
Permanent residents can exempt up to $50,000 of their home value from property taxes. Plus, the "Save Our Homes" cap limits annual assessment increases to 3%.
Florida has no estate or inheritance tax. Your legacy stays with your family, not the state government.
When you move to Florida, your tax bracket changes. Many retirees find they can withdraw more each month while keeping the same after-tax lifestyle.
If you moved from a high-tax state like New York or California, Florida is the perfect place to complete your Roth conversions. You'll only pay federal tax, avoiding the 8-13% state hit you would have taken back home.
Make sure to file for your Homestead Exemption by March 1st of your first full year as a resident. This locks in your property tax protections and can save you thousands over a decade.
Get a deterministic withdrawal estimate that factors in Florida's unique tax landscape.
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