Thinking about investing or retiring in Delaware?
Housing in Sussex County Delaware - The average price for a 3 bedroom, 2 bath home is between $145,000 and $255,000. Location, age and condition determine the variance in pricing.
Lifestyle - Southern Delaware offers a laid back lifestyle which offers outdoor activities, comfortable climate and many medical services.
Investment Properties - Today is the time to purchase investment properties. There are extraordinary values and interest rates are nearing a 30-year low.
Delaware Property Taxes
Our property taxes are one of the lowest in the country. We rank the 7th best in the nation!
State Taxes - Delaware income tax has been reduced at all levels. The state has never had a general purchase sales tax or inventory tax. There are no state property taxes. The total tax structure is competitive with other states.
Personal Income Tax - The State personal income taxes for a resident is assessed on Delaware's taxable income. The taxable income equals Delaware adjusted gross income minus your standard or itemized deducitons. Non-residents are taxed on the portion of income derived from sources within Delaware. The current State rate is graduated and includes several rate reductions.
County Taxes - The Sussex County taxes are based on a 1974 appraisal and is assessed at a 50% of the market value for that time. The county tax rate is $0.445 for every $100 of assessed property value. This is the tenth year that the rate has maintained the $0.445. This tax includes General Bonds, Libraries, and other general operations for the county.
City and Town Taxes - Real Estate in incorporated areas are subject to local property taxes and school taxes. The local city and town governments are, in essence, financed in part by real property tax receipts. The taxes are structured by the tax rate, property assessment and the ratio per incorporated area.
TRANSFER TAX - This is a 3% tax that you will pay when you buy or sell property in Delaware. It will be split between the buyer and seller and collected at time of settlement.( 1.5% to buyer 1.5% to seller)