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☆ New Yorkers who make six figures won't save as much moving to Texas and Florida anymore
  + stars: | 2024-03-25 | by ( Jordan Pandy | ) www.businessinsider.com   time to read: +6 min
New Yorkers have historically moved to Florida and Texas to save money on taxes and other expenses. AdvertisementIn December, Rahul Sen Sharma told Business Insider that he was moving from New York to Miami — and bringing his company with him. New Yorkers moving to Texas for many of the same reasons will also face sticker shock. The savings gained by moving to Florida and Texas are dwindlingUtilities, gas, and housing are just a few expenses that have gotten pricier in Florida and Texas since 2019. "The property-tax percentage rate is higher," Marie Bailey, a Texas real-estate agent who moved from California, told Business Insider's Alcynna Lloyd.
Persons: —, Rahul Sen Sharma, Sen Sharma, BI's Phil Rosen, Jeff Bezos, Ken Griffin, SmartAsset, Dallas, Alexander Spatari, Realtor.com, Jaclyn DeJohn, SmartAsset's, Wager, Robert Walsh, Marie Bailey, Insider's Alcynna Lloyd Organizations: Service, Miami —, Bloomberg ., New, Miami, relocators, Miami . Miami Beach, Bloomberg, Business, Sunshine State, CBS, Fort Locations: Florida, Texas, New York, Miami, NYC, Austin, Florida and Texas, Dallas, Miami ., Manhattan, Fort Lauderdale , Florida, Fort Lauderdale, California
☆ Homebuyers who fled to Florida to escape high taxes are now shocked at their massive tax bills
  + stars: | 2022-11-18 | by ( Kelsey Neubauer | ) www.businessinsider.com   time to read: +5 min
A Florida law caps property taxes at 3% a year for existing homebuyers. The tax bills have come as a shock for some, who may have to consider moving out of the state. Anyone who bought a Florida property in 2022 will be in the same situation next year. Corporate homebuyers are also getting hit with higher tax billsDeeply resourced, large-scale homebuyers are getting caught off guard, too. Some local governments in Texas have argued for increasing property taxes in order to finance things like hurricane relief, the Texas Tribune reported.
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