MiamiHerald / For many decades, South Florida was known as the playground for retirees, who overwhelmingly emigrated from the Northeast United States. These folks simply wanted low taxes and fun in the sun, and good schools didn’t matter to them so much. In the 1980s and ’90s, our region became defined by “Miami Vice” and South Beach (with Miami emerging as the unofficial capital of South America) and again, schools were not a big priority for new residents.
In recent years, South Florida has evolved into a global hub for business, art, technology, and luxury real estate. And while the quality of our public and private schools have improved dramatically, I believe that the low quantity of high-performing schools is quietly keeping our region from becoming a top-five player on the international stage.
A myriad of seemingly unrelated factors, which I will outline in this space, have made this so. Before proceeding, however, I should mention that I approach this topic with some degree of personal and professional experience. I formerly lived and worked in Beijing, and have been working in real estate for the past six years. Previously, I trained with an IMG sports academy to become a professional tennis player, and grew up in their boarding schools, while also obtaining a fine arts background and a minor in Chinese. Over the past few months, I have been in talks with several local municipalities about this very topic, and appreciate their attention and interest.
The new federal tax reforms signed into law last year set a deductions cap for income, sales and property taxes at $10,000. This new cap is leading more residents of states with high property values and state income tax to purchase properties in Florida, which has no state income tax and a pro-business tax structure.