Florida among best states for wealthy

September 14, 2018 1:22 pm

Florida is among the best states for wealthy and high earners.

The Sunshine State is fourth in the list of Best States for High Earners and Wealthy Families. The ranking is from the rewardexpert.com website.

Florida among best states for wealthy

Florida has been chosen for the following reasons:

  • No state income taxes
  • Rebounding Home Values: Property values in Florida are up 1.03% from early 2008, and 9.57% in the past year.
  • At an average Zillow Home Value Index of $223,200, property values are recovering. They are also approaching pre-recession levels, which peaked at $258,000 in the third quarter of 2006.
  • Low effective property tax rate of 0.82 percent due to generous homestead exemption amounts.
  • Public schools ranked fourth-best In the U.S. with 171 gold and silver medal schools.

RewardExpert analyzed 20 data points including taxation, property values, school quality, and overall quality of living to determine which states are most hospitable and attractive to higher earning individuals and affluent families.

Its focus is on individuals earning approximately $100,000 to $250,000 per annum, and families with household incomes between $200,000 and $500,000. “In short, wealthy enough to live the good life, but not so wealthy as to make public school quality irrelevant, or to make capital gains and alternative minimum taxes relevant and necessary for our analysis.”

Source: https://www.rewardexpert.com/blog/studies/the-best-states-for-high-earners-and-affluent-families/