Tax Advantages To Living In Delaware

Tax Advantages To Living In Delaware

Tax Advantages for your Delaware Retirement – Some of the "lowest real estate taxes" in the country  Delaware has been recognized as one of the most tax-friendly states in the country by Kiplinger, CNBC and AOL, and for good reason! The following are some of the most impressive tax benefits that Delaware residents are able to enjoy: · No sales tax. Delaware is one of only five states in the country that doesn't have sales tax.

For those looking for a top rated place to retire, Delaware is only 4 hours from Manhattan, and less than 3 from Philadelphia, Baltimore and the Nation’s Capital.
Buying Delaware Retirement Real Estate Offers Even More Tax Advantages

If you are considering Delaware as your retirement home you may not be familiar with a few of the tax benefits associated with Delaware.

No inheritance tax for most residents;
No personal property taxes;
No sales tax on most retail items purchased in the state;
No Delaware tax on social security benefits for residents;
An exclusion amount, depending on your age, of your pension benefits from being taxable by the state of Delaware regardless of what state you resided in when you worked;
Low real estate property taxes.
Up to $12,500 of retirement income is tax exempt for those who are 60 and older.
A credit equal to half of school property taxes, up to $500, for homeowners 60 years and older

If you are considering a move to Delaware, please feel free to contact me at (302) 383-2789.  I can help!

Lee Buzalek Headshot
Phone: 302-528-0222
Dated: December 2nd 2014
Views: 1,305
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eXp Realty Delaware
State Broker of Record is located at 144 Kings Hwy, Suite 301, Dover, DE 19
Dover, DE