Moving from Chicago to South Florida
Chicago families trade lake winters for the Atlantic every year. This guide compares the published Illinois and Florida tax rules and shows what homes cost here today, from our own MLS search.
The rules that matter
Florida does not levy a personal income tax on individuals.
Source: Florida Constitution, Article VII, Section 5; Florida Department of Revenue
Florida does not impose a separate state estate tax or inheritance tax.
Source: Florida Department of Revenue
A permanent Florida resident who owns and occupies a home as of January 1 may claim a homestead exemption of up to $50,000 of assessed value.
Source: Florida Constitution, Article VII, Section 6; Section 196.031, Florida Statutes
The homestead application is filed with the county property appraiser by March 1 of the year you claim it.
Save Our Homes caps the yearly increase in a homestead's assessed value at 3% or the change in the Consumer Price Index, whichever is lower.
When you move from one Florida homestead to another, up to $500,000 of the Save Our Homes benefit can be transferred (portability).
The rules you leave behind
Illinois taxes individual income at a flat 4.95%.
Source: Illinois Department of Revenue
Illinois imposes a state estate tax on estates above $4 million.
Source: Illinois Attorney General
Tax rules as published for tax year 2025. Tax law changes and residency rules turn on your facts; confirm with a CPA or tax attorney before you act. Atlantic Luxury Advisors does not give tax or legal advice.
What homes cost here today
Active residential listings for sale, refreshed every few hours.
- For sale:
- 462
- Median asking:
- $875,000
- Avg. days on market:
- 108
Equestrian estates and larger lots.
- For sale:
- 1,833
- Median asking:
- $564,900
- Avg. days on market:
- 97
Waterfront and country club communities.
- For sale:
- 649
- Median asking:
- $849,000
- Avg. days on market:
- 93
Golf communities and newer construction.
How life changes
- Nonstop flights connect Chicago with Palm Beach, Fort Lauderdale and Miami; check current schedules for your routes.
- Lakefront living translates to Intracoastal and oceanfront living, with boating in place of the harbor slip.
- Equestrian and estate communities in Wellington offer land and privacy.
Take the Chicago guide with you.
Every tax rule on this page with its source, today's live prices in the towns to start with, and the lifestyle notes, in one printable PDF.
Ready to look? Search homes for sale or talk to Anthony.