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Understanding Florida Taxes

If you’re relocating to Marco Island, you should understand Florida’s state taxes. One of the great perks about living in Florida is that there is no state income tax. That doesn’t mean you’ll be free of all state taxes of course. So, here’s a little bit of information to familiarize you with Florida’s taxes.

Florida’s Sales tax

Florida imposed a six percent sales tax, but food, medicine and professional services are exempt from sales tax in Florida. You may find some counties impose additional sales taxes, but the Florida sales tax itself is six percent.

Intangible Personal Property Tax

Florida has a tax on intangible personal property like corporate bonds and stocks. You may want to check with your tax advisor to understand how that will affect you. CDs, annuities, IRA accounts and cash are exempt from the intangible tax in Florida along with some other personal property.

Tangible Personal Property Tax

Florida also taxes business personal property except real estate. The state will tax property that can be possessed manually if the value is in the item itself. Some vehicles are exempt. Also, inventory and household goods are exempt too. Learn more on the State’s webpage here. Tangible personal property. Here’s a list of people who may be responsible for filing a TPP return with the county appraiser:

  • Sole proprietors
  • Those in a partnership
  • People owning a corporation
  • Self-employed agents and contractors
  • Landlords

For more information, call the Florida Department of Revenue at (904) 487-4215.

970 CAPE MARCO DRIVE PH2506
$9,900,000
  • 6 Bedrooms
  • 8 Bathrooms
  • 16,893 Sq Ft

970 CAPE MARCO DRIVE PH2506 Marco Island, Florida

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Listing courtesy of Premier Sotheby's International Realty

1000 ROYAL MARCO WAY 6
$6,750,000
  • 4 Bedrooms
  • 5 Bathrooms
  • 7,750 Sq Ft

1000 ROYAL MARCO WAY 6 Marco Island, Florida

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Listing courtesy of Premier Sotheby's International Realty

201 S BEACH DRIVE
$5,700,000
  • 4 Bedrooms
  • 6 Bathrooms
  • 9,332 Sq Ft

201 S BEACH DRIVE Marco Island, Florida

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Listing courtesy of Premier Sotheby's International Realty

4000 ROYAL MARCO WAY 328
$2,899,999
  • 3 Bedrooms
  • 3 Bathrooms
  • 4,215 Sq Ft

4000 ROYAL MARCO WAY 328 Marco Island, Florida

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Listing courtesy of Premier Sotheby's International Realty

6830 BEACH RESORT DRIVE 2616
$425,000
  • 2 Bedrooms
  • 2 Bathrooms
  • 1,943 Sq Ft

6830 BEACH RESORT DRIVE 2616 Naples, Florida

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Listing courtesy of Premier Sotheby's International Realty

1126 BLUE HILL CREEK DRIVE
$399,999
  • 0 Bedrooms
  • 0 Sq Ft
  • 0.670 Acres

1126 BLUE HILL CREEK DRIVE Marco Island, Florida

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Listing courtesy of Premier Sotheby's International Realty

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

First, check out available Marco Island area properties using this helpful search tool. If it’s easier, you can just call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’re happy to contact you however you prefer. Then, we’ll start searching our databases right away using criteria you specify!

In the meantime, you can also easily explore Marco Island real estate by price:

  • Marco Island homes for sale from $100k to $200k
  • Marco Island homes for sale from $200k to $300k
  • Marco Island homes for sale from $300k to $400k
  • Marco Island homes for sale from $400k to $500k
  • Marco Island homes for sale from $500k to $600k
  • Marco Island homes for sale from $600k to $700k
  • Marco Island homes for sale from $700k to $800k
  • Marco Island homes for sale from $800k to $900k
  • Marco Island homes for sale from $900k to $1 million
  • Marco Island homes for sale over $1 million

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

Posted in: Blog Tagged: Florida income tax, Florida Intangibles Tax, Florida Sales Tax, Florida Tangibles Tax, Florida Taxes

Join Property Alert

Did you know the hottest homes for sale on Marco Island often sell within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

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As a local Marco Island resident & Real Estate Agent I also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact me at your convenience. There is no obligation and or pressure... I hope to hear from you!

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239.821.7926

cathy.rogers@premiersir.com

760 N. Collier Blvd., #101,
Marco Island, FL 34145

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