The question every Northeast couple asks: How much money will I actually save moving to Port St. Lucie?
Here's the honest answer for a couple with around $120K in retirement income.
Where the savings come from
- No Florida state income tax — roughly $5,400/year saved vs. New York
- Lower property tax on a similar home — about $4,000–$7,000/year
- Homestead Exemption + Save Our Homes cap — locks in those savings long-term
For most Northeast couples, all-in tax savings land around $8,000–$18,000 per year. Over a 20-year retirement, that's $160K–$360K kept in your pocket.
The catch: residency the right way
You have to establish Florida residency correctly. New York in particular is aggressive about auditing former residents, and when you establish residency matters — especially with the proposed 2026 homestead-exemption changes on the ballot.
I keep a free checklist for this. Get the full guide, or send me a note and I'll point you in the right direction.
This isn't tax advice — always confirm your specific situation with a CPA.