Taxes: what you gain and what you don't
Florida has no individual income tax, while Illinois charges 4.95%. Retirees may gain less than they expect, since Illinois already generally exempts retirement income. Run the numbers for your own income sources with a tax professional.
If you buy a primary home, look at Florida's homestead exemption. You need to apply through your county property appraiser, and the deadline is generally March 1 of the tax year. Moving permanently can also raise questions about Illinois residency, so keep records of where you live. Our establishing residency guide explains the steps.
Insurance can change your budget
Home insurance is often the biggest surprise for people from Chicago. Before you make an offer on a home, get real quotes for:
- Homeowners coverage, including windstorm terms.
- Flood insurance, which standard policies usually don't cover.
- Condo association master policies, and any special assessments.
Ask for the flood zone and the age of the roof on any home you're considering.
Condos and HOAs
Associations often approve buyers or tenants, restrict rentals and set move-in rules. Ask for the documents before you sign anything. They affect your moving day too, including elevator bookings and truck parking.
Weather
Summer heat and humidity last for months. Atlantic hurricane season runs June 1 through November 30, so learn your evacuation zone as soon as you have an address.
Wood furniture, leather and paper can suffer in humid garages, so don't use yours for storage without climate control.
License and registration
Florida generally expects you to switch soon after you establish residency, and the widely cited figure is 30 days. Confirm with FLHSMV or your county tax collector, who also handles vehicle registration in many counties.
Moving your household
Most of Chicagoland's Florida moves go down I-65 and I-75. See Chicago to Florida movers for cost by home size, and the city pages for Tampa and Miami.