Taxes: the good news is real
Florida has no state personal income tax, which for movers from New York, New Jersey, Connecticut, or California is often the single biggest line-item change in the budget. Property taxes are local, and Palm Beach County's millage is around 18.72 mills (about 1.87% of taxable value), which is typical for the region rather than extreme.
Two provisions soften the bill for primary homeowners. The homestead exemption removes a portion of your assessed value from taxation, roughly $50,000 and change depending on the year (with a second, inflation-indexed portion now in effect). The Save Our Homes cap limits annual growth in your assessed value to 3%, which protects you from steep tax jumps in a rising market. As a working example, a homesteaded $400,000 home in Palm Beach County is often taxed at a few thousand dollars a year. Your exact number depends on your address and exemptions, and the Palm Beach County Property Appraiser sets the precise figure for your address.
Insurance: the honest version
Florida has the second-highest homeowners insurance costs in the country, and coastal locations carry the highest rates. Nationwide estimates put the Florida average near $5,400 a year for a $300,000 dwelling, with Palm Beach County running higher, into the mid-thousands in 2026 estimates. Hurricane coverage is normally folded into a standard policy through a separate hurricane deductible, commonly 2% of dwelling coverage, and wind or Citizens policies can cost more in high-risk coastal zones.
Two points matter most for buyers: price insurance before you make an offer, and know that location drives the number dramatically. A home two blocks inland can carry a meaningfully different premium than an oceanfront one, and newer impact-resistant construction discounts the bill. Jean-Luc helps every coastal buyer get realistic quotes before committing.
Flood insurance is a separate decision
Flood coverage is not the same as hurricane coverage. Lenders require it for homes in FEMA flood zones, and much of the coastal and intracoastal property sits at least partly in a flood zone. Condominium buildings typically carry master flood policies, with owners responsible for contents. Ask for the flood zone on any address before you get attached to it.
