The rich flocked to Florida. Then property taxes and condo assessments caught them by surprise
In recent years, an influx of ultra-wealthy individuals have decamped to Florida in search of warmer weather and a smaller tax bill. From Jeff Bezos to Bethenny Frankel, celebrities and billionaires alike have made the move, spurred by the lack of state and estate taxes and the promise of a sunnier lifestyle. But in many cases, the move has brought unpleasant surprises. Though they are becoming unaffordable around the country, property taxes rose 47.5% from 2019 to 2024 in Florida, with even people who have owned their homes for decades caught in the crosshairs. More from MSN and Fortune.
Florida Trend Exclusive
Better together
Nicklaus Children’s Hospital and Florida International University’s Wertheim College of Medicine are joining forces to create the area’s only pediatric academic hospital. Nicklaus, the area’s only specialty licensed children's hospital, already works with FIU faculty and helps train medical students. But officials hope the partnership, formed via a new strategic affiliation, will help produce more pediatric and family medicine doctors — sorely needed amid a national physician shortage. [Source: Florida Trend]
Three Florida cities ranked among best places to start a career in the nation
When it comes to college graduates getting a leg up on a new career, the Sun Belt shines above the rest of the U.S. Cities in that region dominated a new list of places to start a career in America, and Florida had plenty of towns near the top. WalletHub, a consumer financial advisory company, published results of a study this week of the best and worst places to begin a career across the nation. Florida had three cities in the top 10. More from Florida Politics and the Daytona Beach News Journal.
Florida's ‘Cat Fund’ reinsurance program estimate tops $6.7 billion
The Florida Hurricane Catastrophe Fund, a crucial reinsurance program, will have an estimated $6.72 billion in cash to pay claims during the 2025 storm season, according to a report approved this week by a panel that helps oversee the program. The so-called Cat Fund also would have access to about $3.25 billion in borrowed money through what are known as “pre-event” bonds. [Source: News Service of Florida]
Former Senate budget chairs see rough waters ahead as negotiations unfold in Legislature
As the Florida Legislature wrestles with budget disagreements as vast as they have been in a decade, former lawmakers who led budget negotiations offered insight into what negotiations lay ahead. At a Florida TaxWatch panel, former Sens. Lisa Carlton, Denise Grimsley, and Kelli Stargel also suggested that budget negotiation challenges are complex and intimidating. But they also sounded optimistic that the Ppocess would eventually force lawmakers to come together. [Source: Florida Politics]
ALSO AROUND FLORIDA:
› Alico posts $111.4 million loss as it exits citrus operations
Alico, Inc. has announced financial results for the second quarter ending March 31, 2025. The company reported a net loss of $111.4 million for the quarter, compared to a loss of $15.8 million in the same period in 2024. The sharp increase in losses is primarily due to $119.3 million in accelerated depreciation of citrus trees, following the company's decision to wind down its citrus operations.
› United Parks: SeaWorld attendance, revenue dip in 1st quarter
Attendance and revenue were down for the first quarter at United Parks & Resorts theme parks, but company executives remain optimistic for a record-setting 2025 at SeaWorld Orlando and its sister attractions.
United’s theme parks reported 3.4 million guests in the quarter, a decrease of 1.7% from a year earlier, and revenue was $286.9 million, a drop of 3.5%.
› Sarasota commission sides with residents, rejects plans for downtown's tallest building
A truck with a digital billboard circled City Hall Tuesday morning, imploring those inside the Sarasota City Commission Chambers to "Save Sarasota's Skyline." The display was the final push in what's been a years-long campaign of resident rallies, mass opposition emails and comments during public meetings urging the city to strike down The Obsidian, a proposed 327-foot high condominium.
› Miami Beach plans to lure Israeli and Jewish-owned firms
Miami Beach has voted to seek out and lure Israeli and Jewish-owned companies to the city. Commissioners in April voted unanimously to direct the city administration to develop an initiative via the city’s Economic Development Department to attract Israeli and Jewish-owned companies.
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› Florida Humanities launches a fundraising campaign after DOGE cuts
After the U.S. Department of Government Efficiency budget cuts dealt a "significant blow" to Florida Humanities, the state program is looking for money. The program's Save Florida's Stories campaign wants to raise $300,000 by Sept. 1. If the nonprofit reaches that goal, donors will double it. At the end of March, DOGE made cuts to the National Endowment for the Humanities, which eliminated over $1.7 million in annual funding to Florida Humanities.
› 2 Florida airports made list of top 50 most stressful airports in US
There's nothing like the anticipation of a trip ... until things start to go wrong. Brown's CBD UK came up with a list of the 50 most stressful airports in the United States, based on data from the U.S. Bureau of Transportation Statistics. Two Florida airports made the "most-stressful" list.
› Snake hunting season: FWC ready to announce Florida Python Challenge dates. What to know
There are thousands, if not tens of thousands of Burmese pythons slithering around in the grass and bushes in Florida. No one knows for sure, but it's a lot invasive snakes and the population has been growing and causing serious harm to the south Florida ecosystem for years. One way the state has come up with to combat these creatures is the annual Florida Python Challenge.
› AdventHealth to build $660M+ tower as its largest-ever expansion project
A new tower is something Rob Deininger said AdventHealth has been thinking about for years. The president and CEO for the Central Florida Division’s quaternary hub — which includes AdventHealth Orlando, AdventHealth for Women and AdventHealth for Children — told Orlando Business Journal the nonprofit health system has seen growth in all the counties it serves.