Florida is a great place to live if you're rich and hate paying taxes

Sorry, rich people who just love to pay taxes.

click to enlarge Florida is a great place to live if you're rich and hate paying taxes
Photo via Adobe Images

Let's face it: The entire nation favors the rich when it comes down to giving back, paying one's fair share, etc. But Florida is apparently among those states particularly attractive to the wealthy as a kind of homegrown tax shelter.

According to WalletHub, a financial website that sends us interesting little tidbits, oh, every five minutes or so, Florida is the fifth best state in which to be rich from a tax perspective.

So what does that mean? Basically, that in Florida, people who make more than $150,000 a year pay a smaller amount of tax as a percentage of their overall income. Which makes sense — after all, Florida doesn't have a state income tax. And other taxes, such as sales and property taxes, and somewhat low in some areas for Florida when compared to other populous states, particularly those with comparatively desirable real estate.

Interestingly, the report also found Florida to be the fifth best state in the nation from a tax perspective for those who make a "middle income," a designation for which the report used an average salary of $50,000 per year as a metric.

Get all the latest news and views in your inbox — subscribe to our newsletters!

Scroll to read more Florida News articles
Join the Creative Loafing Tampa Bay Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state.
Help us keep this coverage going with a one-time donation or an ongoing membership pledge.


Join Creative Loafing Tampa Bay Newsletters

Subscribe now to get the latest news delivered right to your inbox.

We welcome readers to submit letters regarding articles and content in Creative Loafing Tampa Bay. Letters should be a minimum of 150 words, refer to content that has appeared on Creative Loafing Tampa Bay, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space.

Email us at [email protected]