Delaware Tax Advantages for Retirees
When it comes to taxes for retirees, Delaware has been named the most tax friendly by Kiplinger. In fact, the Diamond State is one of only five in the U.S. with no sales tax and excludes inheritance and personal property from being taxed.
Social Security benefits are also not taxed, which makes Delaware the ideal state for many retirees. Enjoy the benefits from years of work without having to pay for it.
In addition, up to $12,500 of retirement income is tax exempt for those who are 60 years of age or older. Real estate taxes, including school taxes for Noble’s Pond homes are estimated at between $1,500 and $2,000 per year, dramatic savings over tax averages in New York, Pennsylvania and other states.
- No Sales Tax! Delaware is one of only five states in the U.S. with no sales tax.
- Tax Friendly State! Delaware is one of the most tax-friendly states in the Northeast and among the top in the nation.
- No Personal Property Tax! There is no annual tax on your automobiles, boats, or RVs.
- Low Property Taxes! Call Kent County Tax Assessor’s office at 1.302.744.1085 for individualized information.