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Economists expect an increased rate NY/Ct/NJ to Florida migration now.
Sensible states will right size the budget, drop taxes, to mitigate that.
And that's all it will take, state governments that've depended on the rest of the nation to subsidize their wanton theft from their residents now realizing their political life might just depend on reducing taxes...
Economists expect an increased rate NY/Ct/NJ to Florida migration now.
Sensible states will right size the budget, drop taxes, to mitigate that.
There are lots of properties in Florida with high property tax bills due to expensive real estate value rather than high local tax rates. These folks are losing out on tax deductions too and will see increased federal income taxes paid due to this. Homeowners insurance in Florida is among the most expensive in the nation, which ads to the cost of living.
Lastly, for people that still work, often(not always) they take a large pay cut when moving to Florida, if one can find a job in their profession.
The end result is that some people can't move to Florida and get a financial boost due to no state income tax. Even with lower property tax rates they often take a financial hit.
This is why a lot of people wait until they retire to move to Florida.
Here in southern Nevada demand far exceeds the supply of existing homes especially in the $300K and under range. I don't see that changing anytime soon around here.
We also have no state income tax and low property tax that will make this area continue to be a desirable place to live.
Here in southern Nevada demand far exceeds the supply of existing homes especially in the $300K and under range. I don't see that changing anytime soon around here.
We also have no state income tax and low property tax that will make this area continue to be a desirable place to live.
Here in southern Nevada demand far exceeds the supply of existing homes especially in the $300K and under range. I don't see that changing anytime soon around here.
We also have no state income tax and low property tax that will make this area continue to be a desirable place to live.
Sounds like someone in the construction business can make some money in southern Nevada.
They will not drop, as local government will end up cutting property taxes, in areas where such taxes are extortionist in nature.
They can do like Michigan and slash homeowner taxes while taxing the snot out of rental property.
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