Florida has a low cost of living
Florida Has A Low Cost of Living
Cost of Living

Florida is one of several states with no state income tax. Sarasota County and Florida as a whole have a below average cost of living compared to most other states, while offering an excellent living environment.

Most of the low tax states with a low cost of living are in the South or the Plains area. Florida is the only state offering low tax rates, and an incredible environment both economically and environmentally. If you live in a high tax state in the Northeast or West Coast, it makes financial sense to relocate to Florida.

Real Estate Taxes-  Property taxes in Sarasota County are based on the Assessors "Just Value" which is updated by the Assessors Office each year. Florida also offers a "Homestead Exemption" for a primary residence in the amount of $25K for an individual or $50K for a married couple which further reduces the Taxable Value. The standard county Millage Rate for 2013 was 13.6 (.0136%) making the tax on a $250K home, less the $50K Homestead Exemtion for a married couple, approximately $2700 per year. Some cities and districts have additional taxes that vary but you get the idea. Property taxes here are significantly lower than where you probably live now.

Here is a link to a CNN/Money interactive website where you can compare property tax rates by state & county:  CNN Money Tax Tool     Figures below from CNN Money

State & County   Tax Rate as % of Value  Average Property Tax

Florida-Sarasota

 0.95

$2,033

New Jersey-Union

2.06 

$7,944

New York-Nassau 

1.90 

$9,080

Illinois-Cook 

1.51 

$3,869

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