Destin, Florida vs. Panama City Beach, Florida

Tax Compare

Our Premium Cost of Living Calculator includes, State and Local Income Taxes, State and Local Sales Taxes, Real Estate Transfer Fees, Federal, State, and Local Consumer Taxes (Gasoline, Liquor, Beer, Cigarettes), Corporate Taxes, plus Auto Sales, Property and Registration Taxes, and an Online Tool to customize your own personal estimated tax burden. Click here to customize.

Taxes
  7.7% lower in Panama City Beach, Florida
than in Destin, Florida
Assumptions
  • Single, standard deduction, one exemption
  • Sales tax includes food and services
  • Real tax taxes are based on the local median home price
  • Car taxes assume a new Honda Accord costing $25,000
   Cost of living
      State level
Destin, FL    Panama City Beach, FL    U.S. Avg
100 = US Avg. Below 100 means cheaper. Above 100 means more expensive. About our Cost of Living Index
   Customize Your Own Personal Estimated Taxes
Enter your income and we will give you your estimated taxes in Destin, Florida, we will also give you your estimated taxes in Panama City Beach, Florida.
Destin, FLPanama City Beach, FLDifference
2019 Federal Inc. Tax$20,047$20,047 
State Income Taxes$0$0  $0 higher
Sales Taxes$1,614$1,738  $124 higher
Real Estate Taxes$2,750$1,890  $860 lower
Motor Vehicle Taxes$0$0  $0 higher
Total Taxes$24,410$23,674  $736 higher
Marginal Rate0.0%0.0%
Effective Rate0.0%0.0%
   Annual taxes
      Based on $60,000 income
   Social security taxes
Destin, FLPanama City Beach, FL
Tax Social SecurityNoNo
Social Security Note  
   Estimated sales tax
      State level, based on annual income of $75,000
Destin, FL    Panama City Beach, FL    U.S. Avg
   Tax on food
Destin, FLPanama City Beach, FL
Sales Tax On FoodNoNo
   Real estate tax
Destin, FL    Panama City Beach, FL    U.S. Avg
Assumes the local median home price and sales tax is amoritized over 13 years.
   Vehicle tax
Destin, FL    Panama City Beach, FL    U.S. Avg
Assumes a new $25,000 Honda Accord and Sales Tax is amortized over 6 years.
   Other taxes
      State level
Destin, FL    Panama City Beach, FL    U.S. Avg
* grt = Gross Receipts Tax. In this state, the corporation is required to pay the gross receipts tax on each sale instead of a traditional income tax based on its earnings. The effect is that a percentage of the total revenue or gross receipts for each sale has to be paid to the state as tax. The gross receipts tax is much like a Value Added Tax, only for businesses rather than individuals. Four states impose gross receipt taxes, Nevada, Ohio, Texas, and Washington.
Cost of Child care
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