Sarasota is one of the most affluent cities in the United States, with the second highest per capita rate in the country. It has earned the title of 'Cultural Coast of Florida' due to its rich artistic and cultural legacy. In recent years, Sarasota, along with Bradenton and North Port, has become a hub for millionaires, consistently ranking among the top metropolitan statistical areas (MSAs) in the U. S.
Department of State. The liberal tax policies enforced in Florida are a major factor in why Sarasota and other MSAs in the Sunshine State are so attractive to individuals and families with a high net worth. Financial advisors often advise their clients that Floridians are not burdened with taxes on income, capital gains, probate, interest, or dividends. Additionally, there is a tax exemption for primary housing, which can be appealing to both wealthy and average people looking for a retirement or second home in Florida.
The opportunity to lead a low-key lifestyle away from the spotlight is also an attraction that has drawn many millionaires to Sarasota. The city has many exclusive residential developments, ranging from golf and country clubs to luxury condominiums. The Founders Club is one of Sarasota's more than thirty golf communities, located on Fruitville Road about two miles east of Interstate 75. This 700-acre gated real estate development is a showcase for a millionaire enclave, featuring luxurious amenities such as a 24,000 square foot golf course in the community clubhouse, as well as a gym, tennis courts, sand volleyball and basketball courts, and a picnic pavilion. In conclusion, Sarasota and its surrounding counties have become an attractive destination for those with high net worths due to its liberal tax policies and exclusive residential developments.
The Founders Club is just one example of how Sarasota has become a hub for millionaires.