Sponsored By Dulce Monohan

Seniors moving to Florida

If you remember Florida in the 1950s, you may recall a state with a small population and only three urban areas that were considered cities. Now, fast-growing communities like Orlando, Ft Lauderdale, Ocala, and Kissimmee have joined Miami, Tampa-St Petersburg, and Jacksonville. Our state’s growth has been extraordinary and has exceeded all expectations for many years. Numerous predictions have been made about the potential slowdown or halt of this growth, but those forecasts have not come to fruition. In 2020, Florida had more seniors relocating to the state than any other in the nation. Its total of over 63,000 new senior residents surpassed the combined totals of the next three states.

What is it about Florida that draws retirees and seniors to the state, and will this trend continue as the population continues to expand?

Let’s examine some of the reasons for Florida’s appeal and consider what the future may hold. Florida offers seniors low taxes, as there is no income tax, estate tax, or real estate taxes in most areas are affordable. Florida does not impose any taxes on intangible assets such as stocks and bonds, and retirement income from pensions or Social Security is also not taxed. Seniors find tax havens particularly beneficial as they have transferred assets to avoid taxes in their original state.

Considering that 41 states impose some form of income tax, it is possible that Florida may decide to tax these income sources in the future. No, there is little to no chance of that happening. The majority of tax protection does not stem from legislation passed by lawmakers and approved by governors. The Florida state constitution contains this provision, which can only be amended through a referendum of the citizens. This would necessitate a 60% majority of total voters, which is nearly unattainable. Real estate taxes predominantly fall under the jurisdiction of local authorities, giving them significant decision-making power in this area. Over the last ten years, certain areas in Florida have seen a significant rise in property tax rates. The high taxes in Dade, Broward, and Palm Beach have made them unappealing to tax-conscious seniors, but surprisingly, there are plenty of affordable areas in Florida, particularly compared to states in the northern region.

What about the cost of living?

The cost of living in Florida has traditionally been lower than other states, but it has recently risen to be more in line with the national average. Undoubtedly, the growing population has caused housing and services costs to rise at a quicker rate than they would have otherwise. The growth is expected to continue; however, it may not be consistent throughout. Regions such as south Florida are expected to grow faster than the average rate, while rural and semi-rural areas with lower population density will continue to offer good value.

What about access to healthcare?

Florida has 10 medical schools, along with teaching hospitals, VA clinics, and major group practices like the Mayo Clinic, providing a wide array of healthcare options in the state. It is also the residence of a significant and increasing elderly community that requires specialized attention. The rise in demand for services for seniors is expected, but it remains uncertain how effectively we will be able to meet this growing need. Florida’s population, which skews older than average, is likely to experience increased rates of diabetes, Alzheimer’s disease, and a variety of other age-related health issues. This will place a significant burden on the healthcare system, particularly. The need for medical care specifically tailored to older adults will be a critical factor when deciding on a location.

Are there 55 and over communities?

Florida’s communities designed for individuals over the age of 55 are frequently the preferred option for retirees and are expected to increase in both quantity and scale. The Villages, situated across several thousand acres spanning three counties, experienced the most rapid population growth of any metropolitan area in the U.S. between 2010 and 2017. Frequently, these neighborhoods provide smaller, cost-effective residences that meet the requirements of older individuals. A lot of people prefer self-contained living environments that cater to all the necessities of their inhabitants. These communities could set an example for future development by offering services such as autonomous vehicles and telehealth features.

What services are available for seniors?

Check out www.elderaffairs.org of the Florida Department of Elder Affairs to access services for older adults. There are more than 30 special service programs designed for senior citizens. Services range from legal assistance to care for Alzheimer’s patients. These programs have a price tag, and their popularity is increasing even more rapidly than Florida’s population. The increase in demand for these services will push them to their limits. Seniors in Florida are encouraged to become more involved in programs that safeguard and support them.

This situation has its advantages and disadvantages. The only thing we can be sure of is that Florida’s growth will continue for the foreseeable future. Please go thru our websites ourseniors.net and ourseniors.org and make sure that you share and also “Give while you Live” so that OurSeniors can be taken care of. Kindly remain by our side as we embark on this journey together.