Tax Incentives to Live & Invest in Cape Coral, Florida
Are you living in a high tax dollar state? We're seeing a huge mass population exit out of those states into Florida. I'm here to tell you why.
Did you know that people are moving out of high dollar states into Florida and bringing in $17 billion a year in wealth to the State of Florida? It's no surprise why so many people are moving to this area. We have so many tax incentives to take advantage of. We have no state income tax, no estate tax, no intangible property tax, and our sales tax is between six and 7%.
Cost of living is lower here than many other areas in the country and also our property taxes are very favorable and if you've come from New Jersey, Illinois, Connecticut, New York, you know how tough that can be to pay those high taxes and the lower the taxes, the more home you can actually purchase down here in Cape Coral.
Now once you purchase here, you would get a homestead exemption. That exemption is a $50,000 exemption, which comes out to roughly around $720 a year. You would save off of your property taxes for being a full time resident and making that home your primary residence.We also have a 3% cap on your property taxes, so if you have a homestead exemption on your home, your taxes won't increase by more than 3% a year.
Now, what all of this means for you by moving to Cape Coral, you have more money in your pocket for your family and your future.
f you're interested in relocating or investing here in beautiful Cape Coral, Florida, contact me.