Why Your Florida House Is Now Worth More

Changes in the tax law may be behind a surge in Florida luxury home prices.

“The new law’s $10,000 limit on the deduction of state and local taxes is hitting owners hard in the affluent suburbs of New York City, including Westchester County, New Jersey and Connecticut,” say reporters at Financial Advisor magazine.

That makes the cost of living much higher up north, and enhances the appeal of less expensive warm-weather states like Florida.

The result? Luxury home prices in Florida jumped 16 percent in the second quarter from a year earlier, according to data from real-estate brokerage firm Redfin Corp.

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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