Florida ranks very favorably in terms of the tax burden placed on residents.
The Tax Foundation ranks Florida among the very lowest tax states, based on income, property and other state and local taxes. (Florida falls at 45 among the 50 states for 2004; only five other states have a lower tax burden).
State Sales Tax – 6%
Corporate Tax – 5.5%
State Income Tax – None
Property taxes are levied by the counties, and as real estate prices have soared, these taxes have increased.
However, property owners can gain a homestead tax exemption for their primary residence, and additional exemptions are available to homeowners age 65 and over.
Vito Bauer-Principal Realtor “Trusted Source for Homes in Southwest Florida”
Cell 239.777.7080, email: Vito.Bauer@BauerInternationalGroup.com
BAUER INTERNATIONAL GROUP – YOUR LUXURY NAPLES FLORIDA HOME DESTINATION
CALL VITO FOR CONFIDENTIAL PRIVATE REAL ESTATE CONSULTATION
Cell: (239) 777-7080