The real tax comparison, retirement income treatment, and which 55+ communities in St. Johns County fit the buyer profile most New Yorkers bring to this market.
New York sends more retirees to Northeast Florida than almost any other state. The financial case is real — but the details matter more than the headline. Florida has no state income tax. New York has one of the highest. The savings on retirement income are genuine and significant. The property tax math is more complicated, and the Save Our Homes reset means your year-one St. Johns County tax bill will likely be higher than whatever the current owner pays. This page runs the actual numbers.
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Talk to a Specialist →New York taxes all income — including pension income, IRA distributions, and investment income — at rates from 4% to 10.9% depending on income level. New York City adds another 3.08% to 3.88% for city residents. Florida has no state income tax on any source of income.
| Annual Retirement Income | NY State Tax (est. 6.85% rate) | NYC Add-On (est. 3.4%) | Florida Tax | Annual Savings (NYC) |
|---|---|---|---|---|
| $60,000 | $4,110 | $2,040 | $0 | $6,150 |
| $80,000 | $5,480 | $2,720 | $0 | $8,200 |
| $100,000 | $6,850 | $3,400 | $0 | $10,250 |
| $120,000 | $8,220 | $4,080 | $0 | $12,300 |
These are simplified estimates using a blended rate. Actual NY tax depends on your filing status, deductions, and specific income sources. For upstate New York residents without NYC tax, remove the NYC column — your savings are still substantial at the state rate alone. Consult a tax professional for your specific situation.
New York property taxes vary widely by municipality but are among the highest in the nation. Long Island, Westchester, and suburban areas commonly run $8,000–$20,000+ per year on homes in the $400,000–$700,000 range. NYC co-op and condo taxes tend to be lower per unit but follow different assessment rules.
St. Johns County 2025 millage: 13.47 mills. On a $425,000 home after the $50,000 homestead exemption, year-one tax: approximately $5,051. That is almost certainly lower than your current New York tax on a comparable home — sometimes dramatically so. The Save Our Homes cap then limits your annual increase to 3% or CPI from year 2 forward, so the tax advantage grows over time as New York property taxes continue rising while yours are capped.
| Purchase Price | St. Johns County Year-1 Tax | Year-10 Tax (SOH cap applied) |
|---|---|---|
| $375,000 | $4,385 | ~$3,378 |
| $425,000 | $5,051 | ~$3,892 |
| $475,000 | $5,725 | ~$4,410 |
| $525,000 | $6,399 | ~$4,929 |
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New York buyers in St. Augustine 55+ communities tend to prioritize: walkable or near-walkable access to restaurants and culture (which points toward St. Augustine proper or the WGV corridor), community social programming comparable to what they had at home (larger communities deliver more of this), and quality construction on the finishes — New Yorkers who have owned in high-cost markets tend to be discerning about build quality and are often willing to pay more for it.
The communities that tend to fit this profile in order of fit: WaterSong at RiverTown (largest community, waterfront setting, strong amenity programming), Parkland Preserve (established, nearly built-out, WGV location), Reverie at Silverleaf (newer construction, no CDD, active build — more flexibility on finishes and options).
To stop paying New York income tax, you must establish Florida as your domicile — your permanent legal home. New York aggressively audits high-income departing residents. The standard guidance: spend more than 183 days per year in Florida, change your voter registration and driver's license to Florida, update estate planning documents to reflect Florida domicile, and document your presence in Florida (receipts, medical appointments, community events). The homestead exemption requires Florida to be your primary residence — you cannot claim it on a vacation home. File for homestead exemption by March 1 of the year following your purchase. Full exemption guide →
New York buyers in St. Augustine benefit most from working with an agent who understands both the cost math and the communities that match the lifestyle expectations NY buyers bring. Let us connect you.
Connect with a Local Agent →NY tax rates approximate — actual rates depend on income, filing status, and deductions. Florida has no state income tax as of 2025. Property tax estimates use St. Johns County 2025 millage of 13.47 mills. Consult a CPA for residency-change tax planning. This page is for research purposes only.
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