3 Replies Latest reply on Sep 10, 2010 11:33 AM by krotzmc


      I live in KS and will retire Feb 1, 2012. FL has no state income tax.  We all know they make up for that in other areas such as sales tax, etc.  What are the cons of retiring to Florida?  Is one FL area better than others?
        • Re: Florida
          I'm certainly no authority on taxes but I do know a little about Florida. There is no doubt some areas of the state are better than others; the question is which areas are most suited to your personal needs and interests.

          Many years ago I lost interest in Florida when the area I was most familiar with went through a lot of change. The population there exploded, traffic became a problem and it just no longer appealed to me. Then, about 7 or 8 years ago, my wife and I discovered Florida's panhandle. We both love the outdoors and found opportunities we thought were long gone. Most of the panhandle is very different, in many ways, from much of the southern part of the state. That isn't to say the panhandle would be better for you, just that the state offers some very diverse opportunities.

          As to taxes, I haven't found them to be bad. I know there are some issues with estate taxes but someone more knowledgeable will have to address that. Property taxes are interesting, at least in Gulf County where we own property. Each year the homes are reappraised and taxes adjusted accordingly. The appraisals are based on comparable sales. As a result of the recent decrease in property value, the amount of our property taxes has decreased substantially. That's a benefit I've never seen here in Ohio.
            • Re: Florida

              I am living in North Carolina, recently my daugther move to Orlando, Fla.  We having visiting some place there.  We loved.But we are not sure, what will be the best place to start with renting.  We just retired and my husband enjoy the amenities thatare available there.  Here in NC taxes are increasing and unfortunately pension and SS are taxable.  Reading your message help me to keep looking.  God bless you!


            • Re: Florida
              We're in the same boat with an anticipated retirement date of October 2012.  We're currently living ND (with very extreme winters) and would like to avoid that if possible.  Because we have one daughter in ND and one in FL coming up with the right retirement location is proving challenging.  We have looked at Florida -- primarily the SW part because that's where our daughter is.  The no-state-tax concept is very appealing to us, and housing prices have plummeted making that very appealing.  However the things we struggle with are the traffic and amount of people constantly around you during the winter months and the horrible heat and humidity in the summer months.  They also have a season where the no-seeums make being outdoors unpleasant.  They talk about bad mosquito problems, but I don't think anyone can beat MN and ND for bad mosquitos.

              I recently read an article listing the best states (taxwise) to live, and ran some computations on some of the areas we have considered -- combining the tax situations and the overall cost of living (utilitzing cost of living calculators on the internet).  Surprisingly, Florida (even with no state tax) did not come out as well overall (because of their higher cost of living) than a couple of other areas.  Of the states I compared (using our cost of living in ND as the basis) Kentucky actually came out much much less expensive with areas in the Ozarks (AR -- didn't check MO) running a close second even though AR doesn't give the state tax break.  We're talking a significant difference using the criteria I estimated for our situation -- an overall savings of $6,000 a year in KY and $5,100 in AR.  FL indicated an overall savings of about $1,800 and MN only $156 (which surprised me because MN state taxes are a bear and I thought it would be more expensive in MN than ND).

              Don't know if that's helpful or not, but I thought it very interesting and worthy of a little more research.