Up to $12,500 of retirement income is tax exempt for those who are 60 and older.
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Tax Benefits: Southern Delaware’s Financial Advantage
No sales taxEnjoy tax-free shopping
No tax on Social Security Benefits
No personal property tax
No inheritance tax
Homeowners 65 and older get a credit equal to half of the school property taxes, up to $500
Up to $12,500 of retirement income is tax exempt for those who are 60 and older(pension, dividends, interest, capital gains, rental income, etc.)
Property taxes are among the lowest in the nationProperty taxes on a 2,000 square foot home in Delaware will run in the range of $125/month (less than 10% of the tax on an equivalent 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. This means that the percent of your home value devoted to property taxes will be about as low as it can be.
based on 2010 Census Data
With your savings, you’ll enjoy fun times together — and with the grandkids — such as dinners out, excursions to Funland, afternoons at the movies, and cruising the boardwalk for Dolles Salt Water Taffy and endless treats.