The basics
- No state income tax. Florida doesn't tax individual income at the state level. Federal tax still applies.
- No state estate or inheritance tax.
- Homestead exemption. A primary residence can take up to $50,000 off its assessed value, and Save Our Homes limits how much the assessment can rise each year. More on homestead →
What to plan for
- Property taxes reset when you buy. Your bill is based on the home's current market value, not what the seller was paying.
- Sales tax is 6% statewide, plus a county surtax in most counties.
- Insurance costs more than in most states, and it's part of the monthly payment you qualify on. Florida property insurance →
Making Florida home
When Florida becomes your primary residence, the common steps are getting a Florida driver's license, registering your vehicle and registering to vote, filing a Declaration of Domicile with your county clerk, and filing for homestead by March 1. How it all applies to your taxes is a question for your CPA.
How it ties to your mortgage
Property taxes and insurance are part of your monthly payment, so they affect how much you qualify for. We use realistic Florida numbers when sizing your loan.