NEW YORK, NY – The end of the draconian COVID-19 restrictions that initially drove scores of New Yorkers to pick up and flee to the state for Florida – where restrictions were far less invasive – has not done much to curb the exodus, with many continuing to leave and head south to escape the high taxes and rampant crime associated with the Empire State.
According to recent reports, during the first four months of 2022, 21,546 New Yorkers changed their residency to Florida, which represents a 12 percent jump from the number of transplants recorded during the first four months of 2021, and 55 percent higher than the same period of time in 2019.
Obviously, this is a trend that is only continuing to build, despite the relaxing of the restrictive COVID-19 lockdown measures that New York implemented during the height of the pandemic in an attempt to curb the spread of the virus; this runs in contrast with the policies of Florida Governor Ron DeSantis, who resisted calls to shutdown his state’s economy or mandate long-term lockdowns.
However, it’s not just pandemic-related woes that have people leaving New York in droves; there are multiple other lifestyle issues that are fueling people’s desire to switch addresses as well, such as skyrocketing taxes that residents are forced to endure.
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High-earners in New York City are slapped with 3.9 percent city tax, 10.9 percent state tax, and 37 percent federal tax; with so much of their earnings being sucked dry, investment bankers and other wealthy New Yorkers can’t get out of the state for the greener pastures of Florida fast enough, reports say.
This state of events recently promoted Goldman Sachs chief executive David Solomon to state that New York City may eventually no longer be considered a “global financial hub” if business leaders continue to jump ship at the rate they are over taxes and the high cost of living.
Another factor pushing out New York residents for Florida, according to reports, is the ongoing crime wave that has left remote-working employees frightened to return to offices; by the end of 2021, felony assaults in New York City jumped year-over-year by 15 percent, and murder was up by a whopping 42 percent over the course of a two-year span of time; random attacks and assaults on the Big Apple’s subway system are also increasing on a seemingly daily basis, with a high-profile April shooting injuring at least 29 people. Reports indicate that businesses are advising employees to “dress down” while traveling to work to reduce the chances they will be mugged.
These factors – pandemic restrictions, taxes, cost of living, and crime – have essentially created a mass exodus from New York to Florida, despite the recent best efforts of New York City Mayor Eric Adams to reverse the trend by attempting to lure LGBTQ+ Floridians move up north.