Florida's no-tax math ignores insurance and condo assessments

A 24/7 Wall St. analysis argues that Florida's zero state income tax no longer carries the savings buyers expect. Coastal homeowners premiums, flood pricing under FEMA's Risk Rating 2.0, and condo assessments tied to post-Surfside structural and reserve requirements now eat much of the difference for retirees comparing states.

Run the real carrying cost before you buy, not after closing. Ask for the seller's current premium rather than a quoted estimate, get a flood quote for that exact address, and if it is a condo, read the association's reserve study and recent assessment history. Condo owners also need to check one line on their HO-6: loss assessment coverage. That is the piece that responds when the association bills every unit for damage or a shortfall, and typical limits are small compared with what a large assessment can run.

An independent agent can quote the property before you commit and tell you whether your loss assessment limit matches what your building could bill you.