Trump lives in the White House. So, why is he moving to Florida?

Adrianna Rodriguez | USA TODAY

Show Caption Hide Caption President Trump moving to Florida; NY governor replies 'good riddance' New York Gov. Andrew Cuomo is not lamenting President Donald Trump's decision to change his residency from his lifelong home of New York to Florida.

After a lifelong residency in New York City, President Donald Trump is officially trading in the skyscrapers of the Big Apple for the palm trees of the Sunshine State.

The New York Times reported Thursday that Trump and First Lady Melania Trump filed separate “declarations of domicile” in Florida last month, a legal move that shifts his residency from Manhattan to his Mar-a-Lago Club in Palm Beach.

Trump confirmed the move in a series of tweets Thursday night.

“I hated having to make this decision, but in the end it will be best for all concerned,” Trump tweeted. “As President, I will always be there to help New York and the great people of New York. It will always have a special place in my heart!”

According to NBC News, Trump has spent 99 days at his Mar-a-Lago club and golf course compared with 20 days at Trump Tower since he took office. But what prompted the official change in residency?

Why would Trump move to Florida?

Trump and his administration haven’t confirmed why the Queens native decided to officially declare his “Southern White House” as home, but many have speculated that politics and money play a large part.

Trump criticized his political opponents in his “Farewell, New York” tweet Thursday suggesting his decision may have had to do with his treatment by political leaders in the city and state.

“Despite the fact that I pay millions of dollars in city, state and local taxes each year,” he tweeted. “I have been treated very badly by the political leaders of both the city and state. Few have been treated worse.”

New York Gov. Andrew Cuomo didn’t seem to mind Trump’s move to Florida and instead responded with a “good riddance.”

“It’s not like Mr. Trump paid taxes here anyway,” Cuomo said in his statement. “He’s all yours, Florida.”

Trump’s contributions to the state and city can’t be confirmed as he has refused to release his tax returns.

However, moving to Florida could be a huge tax saver. The president and first lady would be escaping an 8.2% state tax rate and a 3.87% city tax rate on income over $90,000, according to Joseph Callahan, attorney and president of Mackay, Caswell & Callahan, P.C. in New York.

In order to avoid income tax, the Trumps can’t be in the state of New York for more than 183 days. However, the state can still tax some Trump dollars, Callahan explained, as part of his income tax could come from capital gains through the sale of real estate and, of course, property taxes on his New York properties.

Trump would also be escaping New York state’s estate taxes, which would be a maximum of 16% on an estate worth over $10.1 million with an exclusion amount of $5 million. Florida doesn’t have income or estate taxes.

"It’s an absolute no-brainer," Callahan said on the president's decision to move. "It's excellent as a tax-saving decision."

'Good riddance': Gov. Andrew Cuomo's response to Donald Trump moving from New York to Florida

Where does Trump live?

The move means Trump’s permanent residence will no longer be Trump Tower, the Manhattan building that he has long called home.

However, he will still be residing in the White House for the next year with weekend trips to his new, official residence in Mar-a-Lago.

What’s a 'declaration of domicile'?

According to the Palm Beach County Clerk, a declaration of domicile is a sworn statement that basically says an individual is a resident of that state and county. That individual is stating they reside in and maintain a place of residence there and intend to make it a permanent residence.

Not every state requires you to file a declaration of domicile to make your residency official. The states that do require it often don't have state taxes, such as Florida and Texas.

How much?: Trump’s Mar-a-Lago visits cost Coast Guard nearly $20M

Why did President Trump and First Lady Melania Trump file separately?

A married couple cannot file a declaration of domicile jointly like they can file tax returns.

Copies of the president and first lady’s declarations of domicile show that they must file individually.

However, according to paperwork published by the Times, they both declared primary residence at the same address in Mar-a-Lago.

Contributing: Jon Campbell, USA TODAY. Follow Adrianna Rodriguez on Twitter: @AdriannaUSAT.