The question every Northeast couple asks: How much money will I actually save moving to Port St. Lucie?
The honest answer is: it depends on your income, your home and your county — so the right move is to run your own numbers. Here's where the savings come from.
Where the savings come from
- No Florida personal income tax. In the Florida Department of Revenue's words: "The State of Florida does not have a personal income tax." What that saves you depends on how your current state taxes your pensions, Social Security and investment income.
- Property tax on a similar home. Rates differ by county and city, so compare the actual tax bills of the homes you're considering — they're public on the county property appraiser's website.
- Homestead exemption. For a permanent Florida residence, the Florida Department of Revenue says the homestead exemption can decrease the property's taxable value "by as much as $50,000." The Save Our Homes limitation then caps how fast the assessed value of a homestead can rise each year.
To get a personal estimate, use the Florida tax-savings calculator — it shows the published rates it uses — and confirm the result with your CPA.
The catch: residency the right way
You have to establish Florida residency correctly. New York in particular is known for auditing former residents, and when you establish residency matters — including for any homestead-exemption changes Florida voters may be asked to approve.
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.
Sources (accessed 2026-10-14): Florida Department of Revenue — personal income tax and property tax exemptions.
