[DanBlake]

The advantage is for high income people, of course. If you make alot of money (or have alot of retirement income coming in) florida kicks ass.

As a simple example:

If you make 1 million a year and live in a 2 million dollar house.

Property tax in Cali : 20k Income tax in Cali : ~65k

Property tax in FL : 40k Income tax in FL: Zero

So in this example, you are 100% better off being in florida.

[eigenvector]

Do you know a lot of people who earn $1 million/year and live in a $2 million house? A 2:1 home value:income ratio is extremely low.

[ohazi]

> If you make 1 million a year and live in a 2 million dollar house. > Property tax in Cali : 20k Income tax in Cali : ~65k

Only 65k taxes on 1 million in income? In California? I'll pay you to do my taxes.

[GeneralMayhem]

That's for state tax only - federal would be another good chunk on top of that - but yeah, assuming that's all straight-up income (not investments or anything), just the state-level taxes should be about 100k at California's current rates.

[DanBlake]

You dont pay state income tax on money you pay to the federal gov. Surprised how few people know that.

So on 1m you will pay ~350k to the fed gov- That leaves you with 650k 'net' remaining. CA taxes you on this amount. Hence the 65k for Cali.

[r4vik]

I thought USA had low taxes compared to Europe but wtf property taxes