The Miami girl sends $25,000 to the Feds. The New Yorker sends $10,000 to the City and State, and used to get a credit for that before the Tax and Jobs Reform Act of 2017. Call it 10% in State And Local Taxes (SALT) for simplicity. She sends about 3.5% CITY tax to NYC, and about 6% to the STATE. If her twin sister makes $100,000 in NYC with an effective tax rate of 25% on income tax. If a Miami girl makes $100,000 has an effective rate of 25% on income tax, she sent $25,000 in taxes to Feds. Oversimplification (but should explain it) In trying to decipher what you are trying to say, and you are probably referring to the SALT Deduction limits on INCOME taxes to the Federal Gov’t. The Federal Government has very little (almost nothing) to do PROPERTY Taxes.

” lowered the amount of money those blue staters received on their property taxes” The most recent renderings for 1201 Brickell from architect of record ODP: Griffin has previously criticized the high crime rate in Chicago. His company and its employees have also been significant contributors to the tax base in Chicago and Illinois. Griffin’s donations to educational, cultural, medical and civic organizations in the Chicago area total over $600 million, according to a spokesperson, including a $125 million gift to the Museum of Science & Industry. “I am excited to have recently moved to Miami with my family and look forward to rapidly expanding Citadel in a city so rich in diversity and abounding with energy,” Griffin wrote. Citadel has about 1,000 employees in Chicago, and thousands worldwide. Some are already working out of offices in the Southeast Financial Center.Ĭitadel employees have been asking to relocate from Chicago to Miami and New York, Griffin wrote in a letter to employees. There will already be several hundred Citadel employees in Miami by next year, according to the report. The site is the only vacant property on the bay in Brickell, and recently sold to an unidentified LLC with a Chicago address for a record-shattering $363 million.ġ201 Brickell Bay Drive has approved plans for a supertall designed by Norman Foster.Ĭonstruction of the new HQ will be a multi-year process, the report said, but many Citadel employees have already moved to Miami, including Griffin himself. One possible location: 1201 Brickell Bay Drive. The new office tower will be designed in partnership with Chicago developer Sterling Bay, and will located “on Brickell Bay.” Billionaire Ken Griffin has announced plans to move his company Citadel to Miami, and will develop a new headquarters office tower in Brickell, according to Bloomberg and the WSJ.īoth the Citadel hedge fund and market-making firm Citadel Securities will be relocated to Miami.

The next miami