How Coastal Living Can Help You Save More & Live Better
Maximize Your Savings with a Move to the Georgia or Florida Coast
If you’re considering relocating to the Georgia or Florida coast, you’re not just investing in beautiful scenery and a relaxed lifestyle—you’re also making a financially smart decision. Both states offer significant tax benefits, lower costs of living, and affordable home prices, making them attractive options for retirees, remote workers, and families looking to maximize their savings while enjoying the perks of coastal living.
At Atlantic Salt Realty, we specialize in helping homebuyers find their ideal coastal home in Glynn, Camden, Nassau, Duval, and St. Johns Counties. Whether you’re looking for a primary residence, a vacation home, or an investment property, we can help you take advantage of the financial benefits of living in Georgia or Florida.
Thinking about moving to the coast? Contact Atlantic Salt Realty today to explore affordable homes with major tax benefits!
1. No State Income Tax in Florida – A Major Financial Advantage
One of Florida’s biggest selling points is its lack of a state income tax. Unlike many states where residents must pay both federal and state income taxes, Florida does not tax individual income, including:
✔️ Wages & Salaries
✔️ Retirement Income (Social Security, Pensions, 401(k) & IRA Withdrawals)
✔️ Investment & Dividend Income
This is especially beneficial for retirees, business owners, and high-income earners who want to keep more of their hard-earned money.
What This Means for You:
- If you move from a high-tax state like New York or California, you could save thousands of dollars per year.
- Retirees can stretch their retirement savings further, as Florida won’t tax pensions or withdrawals from retirement accounts.
- If you’re a remote worker or business owner, you’ll enjoy higher take-home pay with no state income tax.
2. Georgia’s Low Property Taxes & Retirement Benefits
While Georgia does have a state income tax, it offers significant tax breaks—especially for homeowners and retirees.
Lower Property Taxes:
- Georgia’s property tax rates are below the national average, meaning homeowners pay less in annual taxes compared to many other states.
- Glynn, Camden, and St. Marys counties offer some of the most affordable property tax rates on the coast.
Retirement-Friendly Tax Breaks:
- No state tax on Social Security benefits
- Exemptions for retirement income (pensions, IRAs, and 401(k)s) for residents over 62 years old
- Additional homestead exemptions that reduce property tax burdens for retirees
What This Means for You:
- Homeowners in Georgia can save significantly on annual property taxes compared to states with high property tax rates (such as New Jersey or Illinois).
- Retirees keep more of their income, making Georgia a cost-effective alternative to higher-tax states.
3. Lower Cost of Living Compared to Other Coastal States
Beyond taxes, both Georgia and Florida offer a more affordable cost of living compared to other popular coastal destinations like California, New York, or Massachusetts.
Cost of Living Comparisons:
- Florida & Georgia vs. California: Home prices in Florida and Georgia are 30-50% lower than in California coastal cities.
- Florida vs. New York: A Florida resident can save up to 10% per year on total cost of living expenses, including housing, taxes, and utilities.
- Georgia vs. New Jersey: Georgia offers more affordable homeownership, lower property taxes, and lower overall living costs.
Why Coastal Georgia & Florida Stand Out:
- Affordable waterfront and beachside homes
- Lower insurance and utility costs compared to northern states
- No personal property tax on vehicles in Florida
What This Means for You:
- You can afford a larger home or a waterfront property without the high price tag of other coastal states.
- Your day-to-day expenses (groceries, gas, utilities) are lower, making it easier to maintain a comfortable lifestyle.
- Retirees and investors can buy more for their money, whether purchasing a primary residence or a vacation home.
4. Homestead Exemptions & Property Tax Relief
Both Georgia and Florida offer Homestead Exemptions, which provide significant property tax savings for homeowners.
Florida’s Homestead Exemption
- Up to $50,000 in exemptions for permanent residents
- The “Save Our Homes” cap limits annual property tax increases to 3% or less
- Property owners can transfer their exemption if they move within Florida
Georgia’s Homestead Exemption
- Standard exemptions for primary residences
- Additional exemptions for retirees and veterans
- Some counties offer 100% property tax relief for seniors over 65
What This Means for You:
- If you own property in Florida or Georgia, you can lower your annual property tax bill significantly.
- Homestead exemptions make homeownership more affordable, especially for full-time residents and retirees.
5. A Smart Choice for Investors & Second-Home Buyers
Whether you’re looking for a vacation home, rental property, or long-term investment, both Florida and Georgia offer excellent real estate opportunities.
Why the Coastal Market is Booming:
- Tourism-driven rental demand in cities like St. Augustine, Amelia Island, and St. Simons Island
- Appreciating home values due to the growing interest in coastal living
- Favorable tax policies make it easier to own a second home or rental property
What This Means for You:
- Investors can capitalize on Florida’s short-term rental market, generating income from vacation properties.
- Second-home buyers benefit from rising property values while enjoying tax-friendly homeownership.
Start Your Coastal Real Estate Journey with Atlantic Salt Realty
The Georgia and Florida coast offers more than just breathtaking beaches and a laid-back lifestyle—it’s also a financially smart choice. From no state income tax in Florida to lower property taxes in Georgia, relocating to the coast can mean significant long-term savings.
At Atlantic Salt Realty, we help buyers find their dream home while maximizing financial benefits. Whether you’re looking for a primary residence, vacation home, or investment property, our expert team is here to guide you every step of the way.
Ready to make a move? Contact Atlantic Salt Realty today and discover how you can save money while living the coastal lifestyle!