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Talk to a Specialist →The Equity Conversion
The median home value in Connecticut is approximately $380,000 (Fairfield County significantly higher at $600K+). After selling costs (6% agent commission + closing costs), a typical CT homeowner nets roughly 92–93% of sale price. Here is what that equity buys in Palm Beach County:
| CT Home Sale | Net After Costs | PBC Option | Cash Left Over |
|---|---|---|---|
| $400K | ~$370K | Legacy condo ($130K) | ~$240K |
| $400K | ~$370K | Mid-tier villa ($280K) | ~$90K |
| $600K | ~$555K | GL Homes Valencia ($450K) | ~$105K |
| $800K | ~$740K | Cresswind/Regency ($650K) | ~$90K |
| $1M+ | ~$925K | Valencia Sound/Del Mar ($750K) | ~$175K |
Income Tax: Connecticut vs Florida
Connecticut has a state income tax of 3–6.99%. Social Security is partially taxed in CT for higher-income retirees. Florida has no state income tax and does not tax Social Security. For CT retirees with combined income above $75K, the move eliminates $3,000–$6,000+/year in state income tax plus the Social Security tax.
The Honest Caveat
Connecticut has been losing residents to Florida for years, and PBC is a primary destination. But CT retirees should factor in: Florida does not have a state estate tax (CT does, above $13.61M), which matters for estate planning. However, CT property taxes include mill rates that vary dramatically by town — compare your specific town rate to PBC, not the state average.
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Property Tax Comparison
Florida effective property tax rate in Palm Beach County is approximately 1.1–1.3% depending on municipality. Connecticut rates vary but typically run 1.5–2.2% effective. The comparison depends on your specific home values in both states. Use this framework:
If your CT home is assessed at $500K and your PBC home will be assessed at $400K, your property tax likely decreases — both because of the lower assessment and because Florida homestead exemption removes $50K from assessed value. But if you are moving from a state with property tax caps or senior exemptions that reduced your CT bill below the nominal rate, the Florida bill may be comparable or higher in year one.
3What Connecticut Buyers Typically Choose
Based on the communities we cover, Connecticut relocators tend to cluster in two tiers: legacy condos (Kings Point, Century Village) for budget-conscious buyers who want to maximize cash reserves, and GL Homes Valencias for buyers who sold a $500K+ home and want resort-quality living. The golf communities (Hunters Run, Indian Spring) draw Connecticut golfers who previously belonged to private clubs.
Related Research
← Back to Palm Beach County HubTotal Cost Comparison Table →PBC Property Tax Guide →Legacy Condo Guide →Moving from Connecticut?
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