What does the NYC to Miami tax migration calculator estimate?
This calculator models the financial impact of moving from New York City to Miami. It compares the New York State and New York City income tax you pay today against the zero state income tax you would pay as a Florida resident, then offsets those savings with the added carrying costs of a Florida property. The model applies a blended effective rate of 9 percent on incomes under $500,000, 10.5 percent from $500,000 to $2 million, and 12 percent above $2 million, and it assumes added Florida carrying costs of 0.3 percent of the property value per year. Outputs include annual tax savings, cumulative 5 and 10 year savings, and the net benefit across your chosen time horizon.
How much can you save by moving from NYC to Florida?
Florida levies no state income tax. New York residents at the top bracket pay a combined state and city rate of roughly 14.8 percent: a 10.9 percent top state rate plus the 3.876 percent New York City resident tax. After establishing Florida domicile, that entire layer of tax disappears. The table below shows representative outcomes from the calculator over a 5 year horizon with full Florida residency.
| Annual income | Property value | Modeled rate | Annual tax savings | 5 year net benefit |
|---|
| $250,000 | $1,000,000 | 9% | $22,500 | $97,500 |
| $500,000 | $5,000,000 | 10.5% | $52,500 | $187,500 |
| $1,000,000 | $10,000,000 | 10.5% | $105,000 | $375,000 |
| $3,000,000 | $25,000,000 | 12% | $360,000 | $1,425,000 |
Net benefit subtracts modeled Florida carrying costs of 0.3 percent of property value per year. Figures are estimates produced by the calculator model on this page, not tax advice.
Where does the NYC pied-a-terre issue fit?
It belongs in the residency-risk analysis. A retained Manhattan pied-a-terre, co-op, or condo can be a permanent place of abode if it is suitable for year-round use and available to the taxpayer. Pair that with 184 or more New York days, and New York statutory-residency exposure can remain even when the client buys in Miami and claims Florida domicile.
What does it take to establish Florida domicile?
Florida domicile requires demonstrable action, not just intent: file a declaration of domicile with your Florida county, obtain a Florida driver license, register to vote in Florida, claim the homestead exemption on your primary Florida residence, move your primary home, family life, and key business ties to the state, and spend the majority of the year there.
Common questions about NYC to Miami tax migration
Does Florida have a state income tax?
No. Florida is one of nine states with no personal income tax, and it also has no state estate tax.
Do you stop paying New York tax the day you move?
No. You must change your domicile, avoid statutory-residency exposure, and be prepared to document the move. Otherwise New York can continue to tax you as a resident.
Are these calculator results tax advice?
No. They are modeled estimates. Filing structure, deductions, and income sources change real outcomes, so consult a tax advisor before acting on a relocation plan.