Population in Naples Gulf Access and in the state of Florida continues to grow. More population growth can be expected in the immediate and long term future. Changes to the federal tax laws in 2017 have people monitoring Florida migration statistics to determine the effect the law has on demographics. The tax changes now cap state and local tax deductions at $10,000. Further, a new limit of $750,000 now exists on the amount of mortgage debt that can be written off on personal taxes. These two important changes have experts anticipating a population shift to Florida from the tax heavy states in the Northeast. While it’s too soon to come to conclusions, some preliminary statistics show this migration is in fact taking place.
Recent statistics from the census indicates Massachusetts and Connecticut are bringing in the most residents into Florida. Somewhat surprisingly, migration from New York to Florida has yet to increase. Pennsylvania and New Jersey, to date, have only shown nominal increases in Florida migration. It comes no surprise as these aforementioned states have the highest taxes in the Nation. Each of the last two years, 63,000 New York residents traded residency from the Empire State to the Sunshine State. In a more pronounced trend, 18,000 Connecticut residents became Florida residents in 2018, up from 11,250 the year before.
It is possible the tax statistics do not tell the entire story of America’s migration from the Northeast to Florida and Naples Gulf Access. With a beautiful climate, abundant cheap land, great healthcare and education, and a wonderful quality of life, there are many reasons Baby Boomers are making the trek down to Florida. Now the snowbirds are staying for good. For Naples Gulf Access residents this means more dreaded traffic, but the more the merrier.
Posted on November 14, 2019 at 1:00 am by Jared Sugerman