
This is the eleventh installment of Top 12 Reasons to Retire in Cape Coral, Florida which can also be downloaded from our free eBook library.
Another great reason to retire in Florida (especially Cape Coral) is because it’s one of a few low tax states!
In 2010, the average Cape Coral resident paid about $1,436 in property taxes. They also enjoyed paying no state income tax since Florida is one of 7 states that do not tax individual incomes.
A 6% sales tax, which ends up including many tourist dollars, helps to offset the lack of a state income tax.
Fortunately, Florida residents also avoid any inheritance or estate taxes. Taken as a whole, the local and state tax burden is very low in Florida.
In fact, The Tax Foundation estimates that Florida ranks 47 (out of 50), making it one of the lowest taxed states in the entire country. Furthermore, Florida’s successful Save Our Homes law has attracted thousands of people from other states.
Basically, the law limits the increase in a home’s assessed value to 3% a year. That means, even if property values are rising quickly, your tax burden won’t! When did this law take effect?

















