Florida lacks an income tax too. Property taxes are distorted due to a law called Save Our Homes. SOH limits increasing assessed value of home prices to inflati

Florida lacks an income tax too. Property taxes are distorted due to a law called Save Our Homes. SOH limits increasing assessed value of home prices to inflation (Consumer Price Index) or 3%, whichever is lower. This mostly shift the tax burden to new home buyers and renters. You get odd effects like in 2009, when property values dramatically fell due to the market bubble bursting, taxes actually went up because the assessed values were so much lower then the just market value. In 2016, a 6.9 million dollar house was only taxed at 2.8 million. Source https://www.jacksonville.com/photogallery/LK/20170125/PHOTOGALLERY/301259950/PH/1 https://www.jacksonville.com/photogallery/LK/20170125/PHOTOG...