Why Live In Delaware ?
Lower Delaware - Sussex County offers a relaxing, coastal resort lifestyle, with many beautiful
beaches and state parks.
Delaware ranks third least tax burdensome state in the United States.
Delaware is one of only four states with NO sales tax.
AARP The Magazine, July/August 2006, “Dream Towns” article named Rehoboth Beach,
Delaware, as one of the five “ Best Places To Retire ”. Criteria used: least expensive states to
live based on income, property, sales taxes; weather; recreational opportunities; and livability –
access to health care and transportation.
State & Local Tax Burdens by State's Ranking for Calendar Year 2005 State Tax Burden Rank (Least to Most Burdensome) Tax Burden as a Percentage of Income Tax Burden Per Capita Income Per Capita
United States - 10.00% $3,763 $37,167
Alaska 50 6.40% $2,452 $38,537
New Hampshire 49 7.40% $3,040 $41,258
Delaware 48 8.00% $3,128 $38,917
Maine 1 13.00% $4,390 $33,844
SOURCE : Tax Foundation and Bureau of Economic Analysis
States with NO Sales Tax
Delaware Montana New Hampshire Oregon
Best Places to Retire
Rehoboth Beach, DE Charlestown, SC Memphis, TN St. George, UT Las Cruces, NM
Delaware ranks 11 th State with the highest one-year home appreciation % change for year ending March 31, 2005, with a 5-year appreciation rate of 59.9%, 25-year appreciation rate of 323.1%! Delaware ranks 9th in the top 10 fastest-growing States, 1.6% increase in population.
Delaware ranks as number one nationally in the percentage of land permanently preserved for agriculture with 6.4 percent or 82,317 acres. Also, Delaware is first in per capita spending on farmland preservation at $124 per person. Source: Delaware Department of Agriculture, AgNews, May 11, 2006; American Farmland Trust, E-News, June 8, 2006.
Top 12 States With Highest One-Year Appreciation*
Percent Change in House Prices - Period Ending March 31, 2005
Rank* STATE 1-Year Quarter 5-
Years
Since
1980
1 Nevada 31.2% 3.5% 84.7% 246.2%
2 California 25.4% 3.8% 103.0% 426.1%
3 Hawaii 24.4% 4.0% 82.9% 322.7%
4 District of Columbia 22.2% 2.7% 108.1% 411.5%
5 Florida 21.4% 4.4% 80.5% 261.1%
6 Maryland 21.0% 3.8% 77.9% 321.2%
7 Arizona 19.4% 5.2% 52.7% 202.7%
8 Virginia 18.6% 3.6% 67.5% 285.2%
9 Rhode Island 17.1% 1.9% 97.6% 446.4%
10 New Jersey 15.8% 2.5% 76.5% 387.7%
11 Delaware 14.8% 2.2% 59.9% 323.1%
United States** 12.5% 2.2% 50.5% 248.8%
SOURCE : Office of Federal Housing Enterprise Oversight , "U.S. HOUSE PRICES CONTINUE TO
RISE RAPIDLY”, Year Ending June 1, 2005, www.ofheo.gov
*NOTE: Ranking based on past, one-year appreciation
**NOTE: United States figures based on weighted Census Division average.
U. S. State Population Estimates & Changes
National Rankings of States
Change '04 to '05 Population Estimates Change '04 to '05 State July 1, '05 July 1, '04
Number % July 1, '05 July 1, '04 Number %
United
States 296,410,404 293,656,842 2,753,562 0.9376802 N/A
Nevada 2,414,807 2,332,898 81,909 3.5110408 35 35 8 1
Arizona 5,939,292 5,739,879 199,413 3.4741673 17 18 4 2
Idaho 1,429,096 1,395,140 33,956 2.4338776 39 39 21 3
Florida 17,789,864 17,385,430 404,434 2.3262813 4 4 1 4
Utah 2,469,585 2,420,708 48,877 2.01912 34 34 15 5
Georgia 9,072,576 8,918,129 154,447 1.7318319 9 9 5 6
Texas 22,859,968 22,471,549 388,419 1.7284923 2 2 2 7
No. Carolina 8,683,242 8,540,468 142,774 1.6717351 11 11 6 8
Delaware 843,524 830,069 13,455 1.62095 45 45 33 9
SOURCE: U.S. Department of Commerce, U.S. Census Bureau, RELEASED: DECEMBER 22, 2005
If you are a first time home buyer – have never previously owned property, you may qualify for an exemption of .75% of Sussex County transfer fee and recording fee for the deed and mortgage, which normally is 1.5% of the purchase price.
Delaware is one of only nine States that have little or no income tax on trusts.
Delaware is one of only 23 States allowing trusts to last for generations.
Reader’s Digest “Best Travel 2006 - Best Seaside Strolls” designated Delaware’s Rehoboth Beach boardwalk as one of the seven “Best Boardwalks” in America.
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 benefit.
Trusts Tax Friendly States
States with little or no income tax on trusts.
Alaska Nevada Texas
Delaware Ohio Washington
Florida South Dakota Wyoming
SOURCE : J P Morgan Private Bank
Starting a Dynasty
States that allow trusts to last for generations.
Alaska Indiana Rhode Island
Arizona Maine South Dakota*
Colorado Maryland Utah***
Delaware* Missouri* Virginia
District of Columbia Nebraska Washington**
Florida** New Hampshire* Wisconsin*
Idaho* New Jersey Wyoming***
Illinois Ohio
*Favorable tax treatment is more assured in these states.
**Florida trust duration 360 years, Washington 150 years.
***Utah, Wyoming limited to 1,000 years.
SOURCE : Trusts and Estates, December 2004