"Where to Retire" magazine writer mentions Jacksonville...

Started by Driven1, June 05, 2007, 08:00:55 PM

Driven1

QuoteMany people enter retirement thinking that if they can't cheat death, they can at least cheat the taxman. They move to one of the seven states with no state income tax (Alaska, Florida, Nevada, South Dakota, Texas, Washington, Wyoming). But they might overlook the fact that, in some cases, the sales tax or local property taxes are much higher than they thought.

In Florida, for instance, "Our research shows that overall, when living in Fort Lauderdale, taxes run higher than if you live in Jacksonville ; and higher in Tampa than in Punta Gorda," says Mary Lu Abbott, editor of Where to Retire magazine.

http://www.jacksonsun.com/apps/pbcs.dll/article?AID=/20070605/LIFESTYLE/706050302

my thoughts??  yeah, the "no state income tax is real nice" but trying BUYING real estate in this state... you have two hurdles, one major and one minor...

major: the prices of the homes (which, granted, are much lower than, say, Manhattan - and are lower in general now due to where we are in the RE cycle)

minor:  friggin' taxes (or stamps as the state likes to call them) placed on the actual transactions - EVEN ON REFINANCES!!!

ARGH!!!! >:(

that being said, the hurdles can be overcome and RE in Florida is a great long-term investment...especially in jax.