Florida Tax Residency Essentials for New Luxury Homeowners - Legal Overview

For affluent buyers relocating from high-tax states, Florida offers a rare combination of lifestyle and structural tax advantages: no state income tax, no estate or inheritance tax, and powerful homestead protections. This legal overview explains how those benefits work in practice for new luxury homeowners, from property tax relief and asset protection to favorable treatment of investment portfolios. It then walks through the concrete steps required to establish Florida domicile and unwind ties to your former state, helping you reduce audit risk and avoid dual taxation.