Tax Advantages of Living in Naples
While many people flock to Naples for its pristine beaches and luxurious lifestyle, more and more are choosing Naples as a retirement destination to take advantage of tax benefits.
Many states in the North East and around the country have an individual and/or state income tax in addition to federal taxes. Florida and Naples have neither, which means no taxes on social security benefits, or any income from 401ks or pensions.
By filing a Homestead exemption, Florida residents can deduct $50,000 (maximum, per household) off the property’s taxable value. That can be substantial savings on your annual property taxes!
For more information on filing your homestead exemption, click the links below:
As an added advantage, Florida also offers homestead creditor protection. This means that residents can not be forced to relinquish their home in the event of a lawsuit against them.
It’s no wonder Naples has been deemed one of the “Happiest Places to Live”. All these tax advantages leaves residents with more to spend on the fun things in life! And even better, more money to invest in a great new place to call home!
Search for tax saving properties here:
