Tuesday January 15, 2019
Lacrosse Homes thinks Delaware is a great place to live, for a number of reasons. Not only is it one of the fastest growing states in the country, its location is within a two-hour drive from Washington, DC, Philadelphia, PA, Baltimore, MD and many parts of New Jersey. And let’s not forget the beautiful coastal beach towns and shoreline areas that make Delaware a national tourist destination!
One of the major factors people consider when thinking about a move to Delaware is financial in nature. There are incredible tax benefits of living and retiring in this area. The tax structure in neighboring states like Maryland are much more expensive than in Kent County DE.
If you’re budget-conscious or planning your retirement you won’t go wrong choosing one of Lacrosse Homes’ new single family home communities in Dover or Magnolia Delaware. Check out these incredible financial advantages:
- Social Security benefits are not taxed
- No state or local sales tax
- No inheritance tax
- No personal property tax
- State income tax ranges from 2.2% to 6.6%
- Up to $12,500 of retirement income is tax exempt for those who are 60 and older
- Kent County's property tax is lower than average and is ranked 2nd by median property taxes
- Delaware Named Most Tax-Friendly State and Most Tax-Friendly State for Retirees by Kiplinger’s Personal Finance Magazine.
Our communities are not age-restricted which means you don’t have any limitations to sell to a resident who is 55 years of age or older when you go to sell your home in the future.