Comments by "Fumble_ Brewski" (@fumble_brewski5410) on "5 Reasons NOT to Move to Florida or Texas" video.
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Don't allow the lack of a personal (or corporate) state income tax fool you into moving to either place. True, if you're an extremely high net worth individual (think Elon Musk or Jeff Bezos), then relocating to Texas or Florida MIGHT make sense. But how many people fall into that category? Very few, I trow. For the average middle class person, saving on income taxes is usually more than offset by having to pay very high property taxes, PLUS very high utility bills. I mean, who really wants to live in Texas or Florida during the summertime without air conditioning? Case in point--I have a family member who lives in Austin, TX, and his monthly electric utility bills for a comfortable home run anywhere from $300-400 per month on average. And his property taxes on that same home run well over $1200 per month. Are you willing to pay nearly $20K per year just to live in Austin? And living in a major metropolitan area in Florida is very similar. In fact, some of the highest-priced real estate in the USA is located in south Florida.
For people who absolutely detest having to pay STATE income taxes (especially those living in California), then there are lower cost options: Nevada, if you don't mind the heat in Las Vegas; or Wyoming or South Dakota, if you don't mind some colder weather. For people living in SoCal especially, southern Nevada is a very attractive option for staying close to family. Cheers.
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