Compare taxes and see how much you save moving from Florida to South Carolina
Florida and South Carolina are two of the most popular retirement destinations in the Southeast — and the tax comparison is closer than the headline income tax rates suggest. Florida wins on income tax (0% vs SC's up to 6.2%), but South Carolina wins on property tax (~0.57% vs Florida's ~0.89%) and has no hurricane insurance crisis. On a $400,000 home: Florida property taxes run ~$3,560/year vs SC's ~$2,280 — approximately $1,280/year less for SC. Florida's homeowner's insurance crisis ($4,000–8,000+/year in many areas vs SC's $1,500–2,500/year) adds another $2,000–5,000+/year against Florida. For retirees: South Carolina's retirement income exemptions (Social Security fully exempt + $15,000 of other retirement income per person) can reduce effective SC income tax to near zero for many retirees. High earners above $200,000 in employment income still clearly benefit from Florida's zero income tax over SC's 6.2%. For retirees on fixed income, the difference is much smaller than it appears.
No Income Tax
6% state sales tax; property tax ~0.89%; homestead exemption; hurricane insurance crisis
Top Rate (above $17,000)
Low property tax ~0.57%; retirement income exemption $15K/person; Social Security exempt
At $100,000 income:
That is $417/month back in your pocket!
| Income | FL Tax | SC Tax | Savings | 10-Year |
|---|---|---|---|---|
| $50,000 | $0 FL income tax; ~$1,560 property; ~$875 sales = ~$2,435 total (+ insurance) | ~$2,232 SC income tax; ~$855 property = ~$3,087 total (no hurricane insurance) | FL saves ~$652 on taxes; SC saves $2,000+ on insurance for homeowners | SC better for homeowners |
| $75,000 | $0 FL income tax; ~$1,780 property; ~$1,300 sales = ~$3,080 total (+ insurance) | ~$4,030 SC income tax; ~$1,140 property = ~$5,170 total | FL saves ~$2,090 on taxes; factoring insurance: similar or FL worse | $10,000 |
| $100,000 | $0 FL income tax; ~$2,350 property; ~$1,750 sales = ~$4,100 total (+ $4K+ insurance) | ~$5,890 SC income tax; ~$1,710 property = ~$7,600 total | FL saves ~$3,500 on income+property taxes; insurance erases ~$2,000–5,000 of this | $15,000 |
| $150,000 | $0 FL income tax; ~$2,900 property; ~$2,600 sales = ~$5,500 total (+ insurance) | ~$9,165 SC income tax; ~$2,280 property = ~$11,445 total | FL saves ~$5,945 on taxes; after insurance, ~$2,000–4,000 net advantage | $30,000 |
| $200,000 | $0 FL income tax; ~$3,900 property; ~$3,500 sales = ~$7,400 total (+ insurance) | ~$12,286 SC income tax; ~$2,850 property = ~$15,136 total | FL saves ~$7,736 on taxes; after insurance: ~$3,000–6,000 net advantage | $50,000 |
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Moving between Florida and South Carolina? SC retirement income exemptions, partial-year returns, and domicile changes require careful planning. Get matched with a CPA who specialises in Southeast retirement moves.
Get Matched With a CPA →For a single retiree with $80,000 income (e.g., $35,000 Social Security + $45,000 IRA distributions): South Carolina: SS exempt ($0 SC tax), $15,000 of remaining income exempt, taxes remaining $30,000 at ~5.9% effective = ~$1,770 SC income tax. Florida: $0 income tax. Florida saves $1,770/year on income tax. But SC property tax ($2,280 on $400K home) vs FL ($3,560 + $4,000 insurance) — SC total costs approximately $5,500 less for a homeowner. Net: South Carolina is cheaper for homeowners even though Florida has zero income tax, because insurance and property tax differences dominate.
No. South Carolina does not tax Social Security benefits at any income level — 100% of your Social Security income is exempt from SC state income tax. Additionally, SC exempts up to $15,000 of other retirement income per person (pension, IRA, 401(k) distributions, annuities) from state income tax. For couples, this means up to $30,000 of non-Social Security retirement income is also exempt. These exemptions make South Carolina's effective income tax burden for retirees much lower than the 6.2% headline rate suggests.
For working professionals: generally yes. Florida's zero income tax saves $5,890–12,000+/year vs SC's 6.2% rate at $100,000–200,000 income. For retirees: the calculation is more nuanced. SC's lower property tax (~$1,280/year savings on $400K home), absence of hurricane insurance crisis (~$2,000–5,000/year savings), and retirement income exemptions can make SC cheaper or comparable for many retirees, even though Florida has zero income tax. Run the full calculation including insurance and property tax for your specific situation.
Florida has significantly higher hurricane risk than South Carolina. Florida is struck by major hurricanes (Category 3+) far more frequently than South Carolina — the Florida peninsula juts into both the Atlantic and Gulf hurricane tracks. South Carolina's coast is exposed to hurricanes (Hurricane Hugo in 1989 devastated Charleston; Hurricane Dorian caused damage in 2019), but direct major hurricane strikes are much less frequent than Florida. Most insurance-company risk models rate coastal South Carolina significantly lower risk than coastal Florida, which is why insurance premiums are dramatically different. Inland South Carolina (Columbia, Greenville, Spartanburg) has minimal hurricane risk.
For high-net-worth retirees with large investment portfolios (capital gains, dividends, interest): Florida wins more decisively. South Carolina taxes capital gains and investment income at the same 6.2% rate (after the $15,000 exemption is exhausted). Florida taxes none of it. At $200,000 in investment income: SC taxes approximately $12,000–12,500; FL taxes $0. The $12,000+ annual savings compound significantly over time. For retirees primarily living on Social Security + modest pension (under $45,000/year combined): SC's exemptions may nearly eliminate income tax, making the insurance and property tax differences the deciding factors.