Why do New Yorkers move to Florida
There are many reasons why people move to a different location. One of the most common is job opportunities. Another one includes the pursuit of a happier life. Even though both of these reasons are among the driving factors behind why New Yorkers move to Florida, there are many more. However, many people are still afraid to embark on such a long move. That is why specialized New York to Florida movers are your best option if you are considering moving to the Sunshine State. In fact, once you finally made that decision, it would be wise to opt for this type of specialized service. But, since the topic at hand is answering the question of why people move from NY to FL, let’s focus on that.
There are 3 main reasons we picked out:
As you can see, you will end up saving a lot of money by moving to Florida
Finances as the main reason why New Yorkers move to Florida
In 2018, Florida received more movers than any other state. To be more specific, more than half a million people moved to FL, according to data from the U.S. Census Bureau. New York’s outflows to the Sunshine State were the highest – 63,772 people. New York had the third-largest outflows of any state, with 452,580 people moving out within 2018. And that’s a fact you should remember! Already convinced? Great! The only thing now is to contact moving companies Orange County NY and arrange a move! If you are still searching for the reason why the aforementioned statistic is the way it is, we will give you the answer. It’s simple – you can save a very large amount of money because of the beneficial tax system.
To understand the tax difference we need to compare the situation in both states. So, let’s see what are the main differences here:
- Income tax – While residents in both states pay a federal income tax, Florida residents are not subjected to a state income tax. On the other hand, New York residents are subjected to this tax and it can range from 4 to 8.2%.
- Death tax – New York has an estate tax, which means that when a resident dies, property located in the state will be subject to both the federal and state rates. Florida has no estate tax of its own, meaning assets are only subject to federal tax.
- Real estate property taxes – The effective real estate property tax rate in Florida is 0.98 percent. That compares with 1.68 percent in New York. Therefore, a Florida resident paying real estate property taxes on a $194,000 home would owe $1,897. A person in New York with a home valued at the same amount would owe $3,246.
- Sales taxes – When it comes to total state sales and excise taxes, there isn’t much of an advantage for those living in Florida. In fact, the rate in New York is actually lower. However, when additional local sales tax rates are taken into account, total rates can reach nearly 9 percent in New York (including New York City). That brings the top total rates nearly even in both places.
In the ranking of states with the highest overall tax burden – taking into account property taxes, individual income taxes, and total sales and excise taxes – New York ranked the highest (12.97 percent overall burden). On the flipside, Florida ranked 47, with an overall estimated tax burden of 6.56 percent. And this is why finances are the main reason why New Yorkers move to Florida.
Great housing options are also among the reasons why New Yorkers move to Florida
Not only is the Real Estate property tax lower, but the market for real estate is very beneficial for you as a buyer. Believe it or not, in Florida you can get the same 4-bedroom home at a price that’s almost three times lower than in New York. Moreover, you will have the added benefit of not paying a fortune in taxes. In fact, even if you have a vacation home, you will still end up paying less than you would in New York. And if that is not a reason to contact movers New York, we don’t know what is. Although, we think we do know of another reason!
Safety. Florida is far safer than New York, and when you combine this with the great housing opportunities and the low tax rates, you can clearly see why so many New Yorkers move to Florida. On average, the different categories of crime statistics are far lower in Florida. Therefore, you can rest assured that almost any city or neighborhood you choose will be safe for you and your family.
Last but not least – the weather!
On average, Florida has 240-270 sunny days annually. So, it’s going to be a nice refreshment from the climate in New York. Furthermore, you are going to have the opportunity to be sunkissed nearly every day of every year! Let’s be real here, who wouldn’t like to have summer all year round?
Does this mean that you have to throw away all your winter clothes? Well, that depends on you. You can always use storage services and store all of your unnecessary belongings. However, if you are a humanitarian soul, you can simply give them away. Another option is to sell them! But, if you are going to go on vacation to a mountain, it would be better that you keep some of those thick winter coats.
To conclude why New Yorkers move to Florida
There are many reasons to move to Florida! Yet, there are even more reasons why New Yorkers move to Florida. If we were to list them all here, this article would be as long as the book War and Peace. So, we are not going to do that! We hope that this article was helpful to you and that you now have a comprehensive understanding of the main reasons why you should, as a New Yorker, definitely move to Florida!
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