Florida vs New York
Property‑Tax Comparison: Florida vs. New York
Intro
Both Florida and New York levy property taxes that fund local services such as schools, police, and infrastructure. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Florida’s effective property‑tax rate is less than half of New York’s. The difference in rates translates into lower annual tax bills for comparable home values in Florida.
Side‑by‑Side Metrics
| Metric | Florida | New York |
|---|---|---|
| Effective property‑tax rate | 0.79 % | 1.60 % |
| Median home value | $325,000 | $403,000 |
| Median annual property tax | $2,555 | $6,450 |
| Property tax on a $250,000 home | $1,966 | $4,001 |
| Property tax on a $500,000 home | $3,931 | $8,003 |
| Median household income | $71,711 | $84,578 |
| Reference | Florida property tax | New York property tax |
All figures are derived from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which State “Wins” on Property Taxes?
Winner (lower tax rate): Florida
- Rate advantage: Florida’s effective property‑tax rate of 0.79 % is 0.81 percentage points lower than New York’s 1.60 %—a 50.9 % relative difference.
- Dollar impact: For a $250,000 home, the annual tax in Florida is $1,966 versus $4,001 in New York, a gap of $2,035. For a $500,000 home, the gap widens to $4,072 ($3,931 vs. $8,003).
Because the tax burden is directly tied to the effective rate, Florida consistently results in lower yearly property‑tax payments across the price points shown.
Who Is This Comparison Most Relevant For?
| Audience | Relevance of the Comparison |
|---|---|
| Current homeowners | Understanding how a change of residence could affect yearly tax obligations. |
| Prospective homebuyers | Assessing the ongoing cost of ownership in addition to purchase price. |
| Retirees | Evaluating states where lower property taxes may help stretch fixed incomes. |
| Real‑estate investors | Comparing cash‑flow implications of owning rental properties in each state. |
| Policy analysts | Using the rate differential as a data point in broader fiscal‑policy discussions. |
The data are purely descriptive; they do not account for other taxes (e.g., income or sales taxes), local exemptions, or variations in assessment practices that can further influence an individual’s overall tax picture.
Summary
Based on the most recent ACS estimates, Florida’s effective property‑tax rate of 0.79 % is substantially lower than New York’s 1.60 %. This rate gap leads to annual tax savings of roughly $2,000–$4,000 for typical home values, making Florida the lower‑tax option for property owners, retirees, and others for whom property‑tax expense is a key consideration.
Explore More Comparisons
Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.