Real Estate News

 

Florida's prices, climate woo wealth from other states

August 07, 2013

By: Wayne T. Price
For: Florida Today

Thousands of people are flocking to Florida and Brevard County because of low taxes, fewer regulations and other attributes, including beaches and nice weather. The people moving to Brevard over the past two decades are coming predominantly from two areas: New York City and South Florida.

That migration to the Sunshine State is outlined in a new study by Travis H. Brown called How Money Walks. Brown, who is based in St. Louis, researched Census and IRS tax return data, in hopes of persuading officials in his home state of Missouri to nix the state income tax because Missouri, he said, is losing considerable amounts of wealth to states such as Florida, Texas and Arizona.

But Mike Slotkin, an economist at the Florida Institute of Technology, said while a state's taxes may play some role in wealth migration, the decisions people make usually involve more factors.

Read more HERE.

Source: www.usatoday.com


Tags: Brevard, Florida, relocating, weatlh,