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Miami's cost of living now tops New York City's despite Florida's tax advantages

The financial math behind fleeing high-tax states for a Florida paradise is hitting a major roadblock.While the absence of a state income tax in the Sunshine State remains a powerful draw for transplants, a combination of rising property taxes, soaring property insurance premiums and everyday inflation has pushed Miami's total cost of living above New York City's for the first time.A recent Bloomberg analysis found that data from the U.S. Bureau of Economic Analysis indicate that the combined cost of living in the Miami, Fort Lauderdale and Palm Beach region — dubbed the "Gold Coast" — is now...