From New York
Relocating from New York to Palm Beach County
No state income tax, direct flights from the New York-area airports, and year-round waterfront access. What the move actually involves.
The tax comparison
New York's combined state and city income tax reaches 14.78% at the top bracket. Florida levies no state income tax. For someone selling a New York primary residence and buying in Florida, the tax differential changes the math on the transaction, and the savings show up starting the first tax year after Florida domicile is established.
Establishing Florida domicile
Florida tax residency is established through a Declaration of Domicile filed with the county, a Florida driver's license and voter registration, and — for a primary residence — the homestead exemption application, which also caps future increases in the home's assessed value. The timing of these steps relative to the sale of a New York property is usually mapped out with an accountant or estate attorney.
Getting there
Palm Beach International Airport runs direct flights to JFK, LaGuardia, and Newark. Amtrak's Silver Service runs the same corridor by rail.
Several major financial firms have relocated offices to West Palm Beach over the past few years, and that has been followed by growth in restaurants, private clubs, and other supporting businesses in the surrounding area.
West Palm Beach's Northwood Harbor and NoMar area sits across a single bridge from Palm Beach island, mixing newer residential towers with low-rise streets near the water and deepwater dockage at Rybovich Marina. The Mandarin Oriental Residences are among the developments under construction there. Palm Beach island itself is largely built out, with turnover concentrated in resale inventory rather than new construction.
Aquantis Realty works alongside the New York-based accountants and estate attorneys who typically manage a relocation's tax-residency timing, coordinating the Florida purchase closing with the sale of the New York property so the two transactions line up.
Speak with our team
Talk through the move with our team
Tell us where you are in the process — early research or already under contract in New York — and we'll walk through the next step.
Buyers from other states