Scott SelleckBroker / Sales Associate / Transition Advisor, The Selleck Group, KW City Views Realty · Scott Selleck | Trusted Bergen County Realtor | Keller Williams City Views Realty, Fort Lee NJ

The Truth About Florida Taxes Most NJ Homeowners Don’t Know

1 Dec 2025 · 1 min

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Scott Selleck breaks down why New Jersey homeowners moving to Florida often overestimate their tax savings. Florida property taxes run 15 to 25,000 yearly, insurance costs 3 to 8,000 a year, and you need residency to claim the 50,000 homestead exemption. Real savings typically land around 3,000 to 5,000, not the 15,000 many assume.

Questions this video answers

"15 to 25,000 plus yearly property taxes."

"3 to 8,000 plus a year"

"12 to 2,000 a year."

"3 to $800 a month."

$50,000

Chapters

Florida property taxes aren't that big of a bargain that you think you're escaping to Bergen county. Taxes of 15 to 25,000 plus yearly property taxes. Florida sounds like paradise, but here's the truth. Any insurance In Florida runs 3 to 8,000 plus a year versus 12 to 2,000 a year. That's over six thousand dollar difference. HOA out of Florida communities are 3 to $800 a month. That's another 3,600 to 9,600 a year. And you don't automatically get the Florida homestead exemption. You must establish a residency. And you missed that you pay the full taxes without the $50,000 exemption. Do the math. Your Florida savings might only be 3,000 to 5,000, not the 15,000 you.