Houses For Sale In Delaware Come With Attractive Tax Rate
Houses for sale in Delaware: no shopping sales tax!
Our neighbors in Pennsylvania and New Jersey are no strangers to Delaware—they often come over to enjoy Delaware’s tax-free shopping. That’s right: there is no sales taxin Delaware. The only other states offering tax-free shopping are Alaska, Montana, Oregon and New Hampshire. Compared to the 6 or 7 percent tax our neighbors pay, that translates to sweet savings. That means you won’t pay any tax when you buy a new car, big-screen TV, or other major purchase.
Houses for sale in Delaware give you convenient access to a wealth of shopping malls and outlets where you can shop ‘til you drop.
Delaware property tax
In March 2013, Philadelphia residents were hit with property tax hikes of up to $2,000. Some homeowners who moved into our houses for sale in Delaware told us they were paying $10,000 a year in New Jersey property taxes. Now they are only paying $1,800!
Generally speaking, property tax on a 2,000 square foot home in Delaware runs an average of less than 10% of the tax on a similar home in New Jersey. Sussex County, Delaware is tied for second among all U.S. counties for the lowest ratio of median annual property tax to home value.
The savings you receive when living in homes and condos for sale in Delaware can make a huge difference in the quality of life your family enjoys.
Retirees look into condos for sale In Delaware
While you’re working, there is a modest personal income tax rate of 2.2 to 6.75 percent, depending on which of the six brackets you fall into. However, there are generous tax credits and deductions. For instance, a married couple with two children could deduct $6,940 in living expenses.
In Delaware, life is sweet when you retire. Social security and railroad pensions are exemptfrom taxation. Taxpayers 60 and older can exclude $12,500of investment and pension income, not to mention, reap an additional $110 tax credit. Out of state retirement income is eligible for the tax savings as well. There is also no inheritance tax, should you wish to pass your house in Delaware down to a child one day.
Houses For Sale In Delaware Offer Stability & Savings
This June, the Sussex County Council unanimously approved the 2014 budget, which keeps our county property tax rate the same it has been since 1990. The robust housing market keeps dollars coming in, which translates to savings for taxpayers. The county property tax rate is a modest 44.5 cents per $100 annually, plus school district tax. Part of the budget involves decreasing the county’s sewer rates, thanks to a recent refinancing of long-term debt.
“If there is anything the public appreciates, it is consistency, especially when it comes to their government and how their money is being spent,” said County Council President Michael H. Vincent.
Isn’t that the sort of place you’d like to live? Contact us to learn more about houses for sale in Delaware. Darley Green model homes are available for viewing every day from 11AM to 6PM. Pleass call Community Sales Manager Amy Maluski to have any of your questions answered: 302.655.2600.