While Florida residents enjoy no tax on retirement income, they can't escape the burden of property taxes. Florida ranks 23 out of 50 of states with the highest property tax rates. Miami Dade County, with it's sprawling luxury oceanfront condos that attract wealthy foreign investors, ranks highest with an average 1.02 percent of median home value, while property taxes in densely populated Dixie County (population: 16,422) are the lowest at 0.51 percent of median home value. Residents 65 years and older qualify for a $50,000 property tax exemption on their properties. Sales taxes in Florida aren't astronomical 鈥� at 6 percent since 1988, but they can swing as high as 7.5 percent.
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