Will you be affected by the New Tax Bill?

The final Tax Bill limits deductions for State and Local taxes (SALT) to $10K and only lets interest on the first $750K of mortgage debt, instead of the current $1M, be deductible for new homebuyers. This will affect those who pay high SALT and buy expensive homes.

Some think this could mean a larger exodus of high income individuals in high State taxes like New York and California to Florida, where the cost of living is lower, and there is NO State income tax or Estate tax.

Many have already packed and moved to South Florida due to its educated workforce, incredible weather, world-class shopping and entertainment and cultural offerings, and of course a favorable tax climate.

A good example of this is the Brickell Financial District in Miami with the highest concentration of international banks outside of Manhattan, its population has doubled since 2000 and more than 60% of residents there are college educated, according to DDA data.

If you are thinking of making South Florida your home call me, it will be my pleasure to help you make a smooth transition. 

Maria Teresa Villalobos

Capital Int'l Realty

USA. 786-285-5855

Vzla. 0212-210-5398

info@bestmiamihomes.net

www.BestMiamiHomes.net 

      @urmiamirealtor