There are many great reasons to call Southern Delaware home. Here are a few of my favorites.
Significant Tax Advantages
- NO State sales tax – one of only 5 states where this is true.
- NO State tax on Social Security or Railroad Retirement income benefits.
- NO personal property taxes.
- One of the lowest property tax burdens in the nation! USA TODAY (April 2018) ranked DE 6th State with the lowest property taxes. Most expensive rankings were NJ #1, NY #5, PA #21, and MD #16. Also, Sussex County’s Fiscal Year 2019 $177M budget marks the 29th year in a row the County’s property tax rate has remained unchanged. Average tax bill for a single-family home in Sussex County is $800, with about $114 of that in county property taxes.
- Ranked #3 for “10 Most Tax-Friendly States” by CNBC PERSONAL FINANCE Magazine, 2018.
- Senior School Property Tax Credit up to $500 for qualified homeowners 65 and older (one per household) on their primary residence.
- Pension Exclusions. For each person 60 and over, up to $12,500 of pension and eligible retirement income are exempt from Delaware income tax.
- First Time Homebuyer Tax Credit. Individuals buying their first home in DE may be eligible for a federal income tax credit of up to $2,000 a year for as long as the homebuyer occupies the home and has a mortgage. (Details contact DE State Housing Authority, 888-363-8808) In addition, a portion of the state’s transfer tax is not assessed for first time homebuyers!
- One of America’s Most Wealth-Friendly States. DE ranks as one of the wealth friendliest States, including Best States for Trusts. Major reasons: no tax on assets held in a trust, allows dynasty trusts permitting assets to pass to future generations and avoid estate taxes, seeks to protect trust assets from lawsuits and creditors.
- Corporate Capital of the World. Since early 1900s, DE’s business friendly laws and courts have made it a corporate haven. Today over one million US and overseas business entities have made DE their legal home. This includes more than half of all US public corporations, over 60% of Fortune 500 companies.
- Highly Ranked by United Health Foundation’s “America’s Health Rankings [by State] 2018 Senior Report”. Ranked #11 overall for senior health; #2 clinical care total – including #19 for dedicated healthcare providers with 95.2% of seniors having a personal doctor or healthcare provider; and #6 nursing home quality.
- Beebe Healthcare. 2016 was centennial year! Main campus located in Lewes, with 7 outpatient facilities-labs, and 4 walk-in care locations. Highly recognized health care facility, including numerous HealthGrades® awards for up to 10 years in a row for its Orthopedics and other health care programs.
- Christiana Care Health System. Headquartered in Wilmington, recognized for excellence on national level. Including ranked 22nd in nation for hospital admissions and, in 2018, was among only 337 hospitals – fewer than 11% of hospitals nationwide – earned highest Five Star rating, from the US Centers for Medicare & Medicaid Service. A major teaching hospital with 2 campuses, nearly 300 Medical-Dental residents, and over 11,600 employees. Home to DE only Level I trauma center.
- Close to Nationally Recognized Hospitals. From Rehoboth Beach under 3 hours to: National Institutes of Health, Bethesda, 130 miles; The Johns Hopkins Hospital, Baltimore, 115 miles; and Jefferson University Hospital, Philadelphia, 122 miles.
Great Location and Stunning Natural Resources
- Location-Location-Location. Delaware is within 4-hours drive of one-third of U.S. population. From Rehoboth Beach to: Philadelphia 119 miles; Baltimore 120 miles; Washington, DC, 122 miles; Trenton 150 miles; New York City 208 miles; Richmond 224 miles.
- State Parks. Delaware has 16 beautiful state parks, most in coastal areas. The American Academy for Park and Recreation Administration awarded DE the 2016 National Gold Medal Award for Excellence in state parks category.
- Beaches. Delaware has 26 miles of Atlantic Ocean coastline, 25 miles of Delaware Bay coastline, and 115 miles of inland bay coastline. Natural Resources Defense Council’s last “Testing the Waters 2014 – A Guide to Water Quality at Vacation Beaches”, June 2014, Delaware ranked 1st in beach water quality out of 30 states and awarded “Superstar Beach” status to Dewey Beach.
- Best Boardwalks. Rehoboth Beach’s 1-mile boardwalk, originally constructed in 1873, has been designated many times as one of the best, most awesome, greatest boardwalks in America.
- Best Beach Towns. Our resort area, primarily comprised of Rehoboth Beach, Lewes, and Bethany Beach, has been designated many times as one of the best, most charming, family friendly beach areas in America. (e.g., Rehoboth ranked 9th in Top Beach Destination in Tripping.com’s Summer 2018 Vacation Report, etc.)
Top Retirement Location
- In addition to the tax benefits, DE is consistently named as a top retirement location for a variety of reasons:
- Kiplinger rated Delaware in the Top 10 for Best States for Retirement (January 2018).
- TopRetirements.com ranked Lewes 66th and Rehoboth Beach 74th in the “100 Best Places To Retire for 2017”, and ranked DE in the top 10 Best States for Retirement (February 2018).
- Wide variety of community activities, beautiful public and private golf courses, shopping, and fitness geared toward retirees and active adults.
- Finest Restaurants. Coastal Delaware is a culinary destination with a high concentration of phenomenal, interesting, award-winning restaurants. In 2018, the National Restaurant Association ranked DE #1 with the highest restaurant sales per capita.
- University of Delaware. Money Magazine’s “2017-2018 Best Colleges” UDel ranked 73rd out of 711 schools for “Best Schools”, ranked 39th for “50 Best Public Colleges”; U.S. News and World Report “2018 Best Colleges” UDel ranked 81st in National Universities, 33rd in Top Public Schools; Kiplinger’s “100 Best Values in Public Colleges, 2017” UDel ranked 38th, ranked UDel 172nd of 300 schools “Best College Values”; and Princeton Review’s includes UDel for 2018 in “Best 382 Colleges” and “Best Northeastern”.
- AAA Rating. 2000 thru 2017 Delaware state bonds have earned triple-A ratings, the highest-quality rating awarded by major bond rating agencies – Moody’s Investors Service, Standard and Poor’s, Fitch Ratings.
- Bicycle Friendly. The League of American Bicyclists ranked DE 7th friendliest State in 2017! DE has over 500 miles of bike trails.
PLEASE NOTE: All information presented is subject to change without notification. Also, you need to consult with a lawyer or tax advisor regarding your eligibility for any Delaware tax or other benefits.
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