Find out how much it costs to live in Fort Lauderdale.
Trying to keep your retirement income in your pocket instead of Uncle Sam’s? If that’s your goal, Florida could not be better. Rated by Kiplinger’s as one of the most Tax Friendly in the country, Florida has no income tax, no social security tax, and no taxes on any other retirement income. The cost of living in Naples, however, is above the national average.
Most Tax Friendly
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Social Security Tax?
County + State Sales Tax
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Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *
Cost of Living Index (100=average):
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Florida residents ages 65 and older who meet certain income limits can receive an extra homestead exemption of up to $50,000 from some city and county governments and/or an exemption equal to the assessed value of the property, as long as the real estate has a fair market value of less than $250,000, the homeowner has maintained permanent residence at the location for at least 25 years, and household income does not exceed $27,994 during 2014.
For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/
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Fort Lauderdale has a slightly higher unemployment rate than the national average, while simultaneously having a higher percentage of 65+ individuals employed than the national average. Some of the largest employers in the area include AutoNation, Nova Southeastern University, and American Express.
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