5 Tax Benefits of Building a Home at Noble’s Pond
When you’re ready to create your dream home and lifestyle, choosing to build at Noble’s Pond, in Dover, Delaware has many advantages. The most important one is keeping more of your money. The numerous tax savings available in Delaware make it the best choice for your retirement.
Whether you are on a fixed income or you just want to enjoy more of your assets in the prime of your life, you’ll benefit as a homeowner at Noble’s Pond. In fact, Delaware is ranked # 1 of the 10 Most Tax-Friendly States for Retirees.
Here are five reasons you’ll actually keep more of your money by moving to Noble’s Pond.
1. Delaware is only one of five states in the US that has no state or local sales tax. Really.
If you currently live in New York, New Jersey, or Pennsylvania, you’re probably used to paying sales tax because that’s standard in those states. It doesn’t have to be that way.
Just imagine! When you shop in a store, you only pay the price listed on the tag. No state and local taxes can really add up and increase your spending power.
2. Insuring your home in Delaware is less expensive.
Budgeting for a new home means understanding all the costs. While the purchase price is the first thing you look at, the cost of your home insurance is another major factor to consider. Delaware has the most affordable home insurance rates on the East coast.
And with low property taxes, it’s easier to qualify for a mortgage, especially important for those living on a fixed income.
3. Delaware residents pay no tax on social security retirement benefits.
Now that you’re enjoying the prime of your life, why not enjoy the fruits of your labor? No tax on social security retirement benefits means that after all those years of working, you can fully enjoy what you paid into the system.
Those extra dollars can provide many enjoyable opportunities. As Noble’s Pond resident Pat G. says, “With the money we were paying on taxes in New Jersey, we can now spend on doing fun things, maybe traveling or dining out.”
4. Delaware excludes inheritance assets from being taxed.
Not paying taxes makes your inheritance feel like even more of a gift. In addition, up to $12,500 of retirement income is tax-exempt for those who are 60 years of age or older. That’s more money for you to get out and enjoy Delaware’s moderate weather and miles of coastal beauty.
Photo credit: MemorableWomensTravel.com
5. Delaware has no personal property tax.
There is no annual tax on your automobiles, boats, or RVs. No matter what mode of transportation you prefer, you’ll enjoy exploring the Diamond State and its numerous coastal wonders.
“Definitely, the low taxes were the biggest draw for the two of us. What we pay for taxes in Delaware, we paid for a month in New York,” says Noble’s Pond resident Joan H.
Building your next home at Noble’s Pond in Delaware is truly a smart decision. By moving here and saving on so many state and local taxes, you’ll keep more of your money so you can really enjoy your retirement years.
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