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Old 03-10-2008, 11:39 AM
 
1 posts, read 2,831 times
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To anyone who says you can't beat the low property taxes in Delaware: You are not quite right about that. You say income tax graduate up to 5.95% over 60K in Delaware is not much more than PA's 3.07%, it is a lot more. For someone looking for a $400-600k house, they would have to have a pretty good income. Let's even be conservative and say $150k/yr (if it's not near that then you are dreaming about a $400-600k house). In PA (Chester county) your property taxes would be well over $5k (maybe up to $7-8k) in Delaware maybe $1900-2500. Ok so you think you have a better deal. Well, your income tax in PA would be $6100 including the 1% school and municipal tax. In Delaware.... $8300. So at that point yes Delaware wins (slightly, less than $1000/ yr more than likely) The difference only shrinks with a higher income and eventually it will pay to live in PA. Send your kids to private schools and PA is already ahead. About the sales tax... drive to Delaware and buy what you want, then drive home to PA. The only savings would be buying and registering a car in Delaware, if you live there, then there is no sales tax. This is a tough decision and it's not one that is as simple as property taxes are lower and income taxes are higher.
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Old 03-10-2008, 12:00 PM
 
19,922 posts, read 11,024,885 times
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terrypa says: "To anyone who says you can't beat the low property taxes in Delaware: You are not quite right about that"

If you are talking about real estate taxes alone, then the statement above remains true. You can't beat the low property taxes in Delaware in any neighboring state. Not PA, NJ, NY, VA, or MD.

If you expand the conversation to include income tax, then it depends on the individual. When I arrive, my social security and first $12,500 of my pension will be exempt from taxation, therefore I will actually be paying less than 3.07% income tax on my total income. Last time I did the calculation, it worked out somewhere in the 2.7% range. It's different for each individual situation.

However, the statement about property tax alone, as stated above, remains true.
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Old 07-12-2010, 03:22 PM
 
1 posts, read 2,058 times
Reputation: 10
Best thing I can tell you stay in Philly!!!!
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Old 07-13-2010, 10:11 AM
 
1,030 posts, read 3,408,316 times
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Quote:
Originally Posted by alicia pilotta View Post
Best thing I can tell you stay in Philly!!!!
I'm sure they did what they needed to in the past 3 years. Check OP dates.
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Old 07-13-2010, 11:19 AM
 
Location: SE Florida
1,194 posts, read 4,119,979 times
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I lived in Newtown Square of Delaware County just outside Philly for 30 + years. I moved to Southern Florida 4 years ago and the taxes in PA and Florida are almost the same. Very High. I was paying $7k total for each property including school taxes etc., etc., until I sold the PA home. Now my taxes are $7,000...

My brother lives in Wilmington De for 15 years and bought his home new. He loves his community but Real Estate market is in a slump and his neighborhood is bringing in low class people. 2-3 cars in the driveways, toys all around the front, lots of radios can be heard along with car stereos blasting. Walking a few blocks away from his home can bring one a little trouble.

My sister lives in Chester County not far from De and her home is around $750k but nowadays it could be $500k. Beautiful home and neighborhood. Dealware is a 35-45 minute drive using Route 202 South from Cheter County and if I had my choice I would go for Chester County.

..
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Old 07-13-2010, 01:47 PM
 
604 posts, read 2,006,840 times
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Sorry to hear about your brother's neighborhood deteriorating - but don't you think you are somewhat in an illicit generalization terrtory when you take that one example of a marginal neighborhood to advise OP who is not going to be involved in a similar situation..
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Old 07-13-2010, 02:01 PM
 
604 posts, read 2,006,840 times
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OP need not assume that private schools are a must in DE ..... quality of schools depends mainly on the caliber of the homes (read parents) sending the children to school -- feeder pattern to the school largely determines the quality of school --

If I read correctly, the children are at least 4-7 years in the future - the quality of schools THEN will be the determining factor rather than that at present. In my experience, one way to ensure that children get the maximum benefit from the school is some parental involvement ( e.g. PTA organization) in school affairs.
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