Aug
09
NYC Area Tax-Law Refugees Fuel a Luxury-Home Boom in Florida
By-
Prices in state are rising at their fastest pace in five years
- New law’s cap on deducting state, local taxes spurs purchases
When the owner of a financial-services firm in Connecticut saw the U.S. tax overhaul pass in December, capping state and local deductions, he packed his bags. Now he lives in South Florida, soaking up the sun and some serious annual savings.
Like many of Jay Phillip Parker’s clients these days, the empty-nester is a refugee of the Trump tax act — and he’s closing soon on a $6 million Miami-area condo. Luxury-home prices in Florida have been surging ever since the law went into effect, jumping 16 percent in the second quarter from a year earlier, according to data from brokerage Redfin Corp…
NYC Area Tax-Law Refugees Fuel a Luxury-Home Boom in Florida
