Relocation Advisory

NEW JERSEY TO FLORIDA PROTOCOL

Q: What is the New Jersey 'Exit Tax'?

It is not an extra tax, but a mandatory prepayment. When you sell your NJ home as a non-resident (which you will be if you move first), the state withholds either 8.97% of the gain or 2% of the sale price. You get the difference back when you file your return, but your cash is tied up for months.

Q: Does New Jersey have an Inheritance Tax?

Yes. While the Estate Tax was repealed, the Inheritance Tax remains. Transfers to spouses and children are exempt (Class A), but transfers to siblings, nieces, or friends (Class C/D) can be taxed at rates up to 16%. Florida has zero inheritance tax.

Q: Will my property taxes really drop that much?

Yes. New Jersey averages 2.49% effective property tax rates. Lakewood Ranch averages around 1.1% to 1.4% (including CDD fees). On a $2M asset, you are likely saving $20,000+ annually just in property taxes, before even calculating income tax savings.

Stop Buying Real Estate. Start Buying Freedom.

"New Jersey has the highest property taxes in the nation and a 10.75% top income tax rate. You are paying a premium for a location you no longer need. We structure a lifestyle exit that reclaims your buying power."

The Financial Case

Market Index Verified: February 2026

Your Wealth: NJ vs. FL

Metric

Short Hills / Rumson / Alpine

Lakewood Ranch

The Griffin Impact

What $2.5M Buys

~4,000 sq ft (Older Colonial)

~5,500 sq ft (New Custom Estate)

+35% More Luxury

Income Tax (Top)

10.75%

Instant Raise

Property Tax

~2.4% (Highest in USA)

~1.2% (Capped at 3%)

Massive Reduction

Winter Lifestyle

5 Months of Gray/Slush

365 Days of Outdoor Living

Priceless

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The Wealth Release Calculator

Annual Household Income ($)

Tax-Funded Buying Power

$1,977,635

This model illustrates additional asset value your tax savings alone can service at today's rates, allowing you to direct capital back into your own equity.

GRIFFIN TAKE

"Don't wait for retirement. The 'Save Our Homes' cap locks in your property tax assessment base. Every year you wait to buy in Florida is a year of tax protection you forfeit forever."

Ready to Exit?

Download the full NJ-to-FL Tax Guide or schedule a confidential consultation.

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Sarasota Lakewood Ranch

Frequently Asked Questions

What is the New Jersey "Exit Tax"?

Tax professionals clarify that this is not an extra tax, but a mandatory prepayment. CPAs advise that when you sell a NJ home as a non-resident, the state typically withholds an estimated percentage of the gain (often 8.97%) or sale price (often 2%). We coordinate the timeline of your Florida acquisition alongside your tax counsel to help mitigate the friction of having your liquidity temporarily tied up during this withholding period.

Does New Jersey have an Inheritance Tax?

Estate attorneys routinely warn high-net-worth clients about New Jersey's remaining Inheritance Tax. While immediate family may be exempt, legal counsel highlights that transfers to other beneficiaries (siblings, friends) can face significant tax rates. Florida, by contrast, has zero inheritance tax. We secure the real estate assets necessary to support the wealth preservation strategies drafted by your estate planner.

Will my property taxes really drop that much?

Statistically, yes. According to state averages, New Jersey effective property tax rates hover around 2.49%. Lakewood Ranch averages around 1.1% to 1.4% (including CDD fees). Based on these historical averages, a $2M asset often yields an estimated $20,000+ in annual property tax savings, independent of any income tax reductions. Your exact savings will depend on your specific assessment and tax bracket.