Photo by Ted Eytan
There is a reason retirees flock to Florida and it’s not all about the warm weather and senior living complexes. While younger working individuals don’t get quite as many tax breaks as seniors, there is no state income tax, making it a bit more affordable than many other states, even for young couples and families.
However, the state does get their income with a 6% sales tax rate which may be balanced out for residents with homestead exemptions and property tax breaks. Selecting a state to live in involves evaluating all the costs and finding a balance that fits your budget. Maybe Florida is the place for you.
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