Wealthy New York City residents are having difficulty managing their new tax burdens. Click the USA map below to see that New York State’s residents pay more federal taxes than citizens living in any state of the nation yet receives the least benefits. Balance of payments refers to federal taxes paid by a state’s residents and economy minus federal spending in the state. The RED STATE which is obviously New York, is faring the worst of any state in the nation.
New Yorkers are high-tailing it towards a warmer climate and heading for financial heaven. They are moving to Miami Dade for low cost of living, beautiful beaches and a glorious nightlife.
Angry New Yorkers feeling used and abused by their federal tax obligations and say they have had enough. There is a big difference between the taxes they pay in New York versus the taxes they will pay anywhere in the State of Florida.
One rather sarcastic real estate promotion offers a nice suburban apartment complexe with fashionable residential units and properties and the advertising even includes a resignation letter for New Yorkers to offer their relatives before they leave the Big Apple.
CLICK IMAGE BELOW TO READ ABOUT UNHAPPY NEW YORKERS MOVING TO FLORIDA
The federal Tax Cuts and Jobs Act became law in 2017. The new law limits deductions on state and local taxpayers. The worst hit are New Yorkers followed by residents of New Jersey then the residents of Connecticut. Those three states top the list for the highest income and property taxes.
And in an ironic twist, the state of Florida has the highest number of migrants than any other state.
Florida is attracting disillusioned New Yorkers.by the thousands!
Real Estate developers offering move-in-ready units believe 1 in 4 units are being taken by New Yorkers.
The study by the Unhappy New Yorkers Web site explains that $25,000 on an annual income of $100,000 in Dade County compared with New York City, owing to lower taxes and lower cost of living. And that savings translates to a tidy $235,000 on $1 million
The reason is not surprising. A study posted by the Unhappy New Yorkers Web site calculates savings of nearly $25,000 on an annual income of $100,000 in Dade County compared with New York City, owing to lower taxes and lower cost of living. And that savings translates to anywhere from $235,000 to even $1 million.