Relocation Guide · Coral Springs · Parkland · Weston · Davie

Moving to Florida from a High-Tax State? Here's What You Actually Save.

A family earning $250,000 a year in New Jersey saves roughly $15,000 to $22,500 every single year in state income tax alone after moving to Florida — before counting homestead exemption, portability, and the Save Our Homes cap. Over 10 years that's $150,000 to $300,000 back in your pocket.

Last verified April 2026 · Written by Beth McKeone (FL Lic #SL3435994)

Want a personalized tax & timeline estimate?

Tell Beth your current state, income, target Florida city, and timeline — she'll come back with a real savings number and a relocation plan within 24 hours.

How much do I save in state income tax moving from NY, NJ, CA, or IL to Florida?

Florida has zero state income tax, no state capital gains tax, and no state estate tax. That alone is worth real money every year — and it compounds across every dollar you earn, invest, or pass down.

Household IncomeApprox. Annual Savings vs. NY/NJ/CA/IL10-Year Savings
$150,000$8,000 – $15,000 per year$80K – $150K+
$250,000$15,000 – $30,000+ per year$150K – $300K+
$500,000+$36,000 – $99,000+ per year$360K – $990K+

Estimates assume marginal state income tax rates for 2026 and do not constitute tax advice. Actual savings depend on your specific filing situation. Consult a CPA for your household. Sources: NJ Treasury, NY Department of Taxation, California Franchise Tax Board, Illinois Department of Revenue, Florida Department of Revenue.

What property tax protections do I get as a Florida homeowner?

Florida layers three big property tax protections on top of the zero-income-tax win. Each one is worth real money, and they stack.

  • 1. Homestead Exemption — up to $50,000 off taxable value

    Once your Florida home becomes your primary residence, the first $25,000 of assessed value is exempt from all property taxes including school taxes. The next $25,000 (between $50,000 and $75,000 of assessed value) is exempt from non-school taxes. Annual value: typically $750–$1,100 on a $700K home in Broward.

  • 2. Save Our Homes Cap — 3% annual assessment cap

    Once homesteaded, your home's assessed value for tax purposes can only go up 3% per year (or the CPI change — whichever is lower). In a rising market like South Florida in 2026, this is a major shelter. Market value can jump 15% in a year; assessed value still only goes up 3%.

  • 3. Portability — transfer up to $500,000 in accumulated savings

    If you already own a homesteaded Florida home and move to another one, you can transfer up to $500,000 of your accumulated Save Our Homes shelter to the new home. This is the big lever for existing Florida homeowners trading up to Parkland, Weston, or a bigger home in Coral Springs. You must file within 3 years. Beth handles the portability paperwork.

Can I buy a home in Florida from another state without flying down multiple times?

Yes — this is what our full-service closing team was built for. One trip to Florida for the home search, then everything else is coordinated remotely by our team:

  • ✦Virtual tours, video walkthroughs, and 3D floor plans for homes that interest you
  • ✦Remote inspections with vetted Broward County inspectors; we attend and report back
  • ✦Financing coordination with your lender of choice or a local lender if yours won't cross state lines
  • ✦HOA review, flood insurance quotes, and elevation certificate review before you sign anything
  • ✦Remote electronic closing, or fly down just for closing day if you prefer

Typical timeline from accepted offer to keys: 45 to 60 days. See the full 6-step closing process for the mechanics.

Which South Florida city is the right fit?

All four of our cities are strong choices, but they're different. Parkland leads on schools and executive-tier housing. Weston is steady, family-friendly, and close to Sawgrass Expressway. Coral Springs offers strong schools with more housing variety. Davie gives you the most house for the money.

→ Coral Springs→ Parkland→ Weston→ Davie

Written by Beth McKeone, Florida Real Estate License #SL3435994, at VantaSure Realty (FL Brokerage License #CQ1065669). Reviewed by James “Griff” Griffis, FL Lic #SL3473163.

Relocation questions people actually ask

How much do I actually save in state income tax moving from NJ or NY to Florida?+
On a $250,000 household income, a New Jersey family saves roughly $15,000 to $22,500 per year, and a New York family saves $15,000 to $25,000 depending on locality (NYC residents save more because NYC has its own city income tax on top). Over 10 years, that's $150,000 to $300,000 back in your pocket — before you even count the property tax protections. California and Illinois relocations land in similar ranges.
What is the Homestead Exemption and how much does it save me?+
The Florida Homestead Exemption reduces your home's taxable value by up to $50,000 once it's your primary residence. The first $25,000 applies to all property taxes including school taxes; the second $25,000 applies to non-school taxes. On a $700,000 home in Broward County, that's typically $750 to $1,100 per year off your tax bill.
What is the Save Our Homes cap?+
Save Our Homes limits the annual increase in assessed value on your homesteaded primary residence to 3% per year, or the CPI change (whichever is lower). In a rising market this matters a lot: if your home value jumps 15%, your assessed value still only goes up 3%. Over 10 years of a hot market this can save tens of thousands in property tax.
What is portability and how do I transfer $500,000 in tax savings?+
If you already own a homesteaded home in Florida and move to another one, portability lets you transfer up to $500,000 of your accumulated Save Our Homes savings (the difference between assessed and market value) to the new home. This is one of the biggest Florida tax advantages for existing Florida homeowners moving up — you don't lose your tax shelter when you upgrade. Beth handles portability filings routinely.
Can I get homestead exemption if I'm still legally a New York resident?+
No — Florida homestead exemption requires the home to be your permanent primary residence. You need to establish Florida domicile: Florida driver's license, Florida voter registration, Florida vehicle registration, and legitimately living in Florida more than half the year. Many relocating buyers we work with have states like New York audit their residency change, so getting the paperwork right matters.
When should I file for homestead exemption?+
You must file by March 1 of the year following the year you moved in. We strongly recommend filing as early as possible in that window (late January or February) with the Broward County Property Appraiser, because the exemption applies retroactively to the full tax year but only if the filing is approved on time.
Which city is best for relocating families — Coral Springs, Parkland, Weston, or Davie?+
Parkland and Weston consistently rank highest for school quality and tend to attract executive relocations with higher median prices ($1M+ in Parkland, $700K–$820K in Weston). Coral Springs offers strong schools with more housing diversity and median pricing in the $600K range. Davie is the value play — larger lots, more square footage per dollar (median $500K–$525K), and close to I-595 for commuters. Beth can walk you through a city-by-city comparison on your first call.
Do I need to make multiple trips to Florida to buy a home remotely?+
No. We coordinate virtual tours, video walkthroughs, remote inspections (with our vetted inspectors), and remote closings so out-of-state buyers can close in 45 to 60 days without flying down more than once. One trip for the home search, and closing by remote signing. This is what full-service coordination means in practice.

Ready to run the numbers on your move?

Tell Beth your current state, income range, target Florida city, and timeline. You'll get a real savings estimate and relocation plan within 24 hours — no pitch, no pressure.

Last verified April 2026