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Luxury real estate specialist Margit Brandt reports that Washington state high earners are increasingly purchasing property in Florida to avoid a new 9.9% income tax.
The tax applies to annual adjusted gross income above $1 million and takes effect on Jan. Washington currently has no individual income tax, making this legislation a significant change for the state's wealthy residents.
Brandt told Fox News Digital that the tax environment in Washington is unappealing to high-net-worth individuals, who have become a major source of buyers for the Florida market.
She noted that Florida has a 0% income tax rate, while Washington's rate is 9.9% as of January 2028.
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