Delaware does not impose any state or local sales tax on purchases, making it an attractive destination for shoppers and everyday items more affordable.
Property taxes in Delaware are relatively low compared to many other states. Additionally, Delaware offers various property tax relief programs for qualifying residents, such as the Senior School Property Tax Credit and the Property Tax Relief for Disabled Veterans.
Delaware offers favorable tax treatment for retirement income. Retirement account distributions (such as 401(k) and IRA withdrawals) are partially taxable with up to $12,500 in retirement income excluded annually for residents age 60+.
Delaware exempts Social Security benefits from state income tax, providing additional savings for retirees.
Delaware does not impose an inheritance tax on transfers to surviving spouses, children, grandchildren, or parents.
New construction home sales have surged in the recent years giving buyers several options to purchase brand new homes throughout the state. Several 55+ communities have also been completed to provide buyers with more options.