Quality of Life in Milford>Question Details

Pat, Both Buyer and Seller in Wilmington, NC

We're thinking of a move to Delmarva. Why are the homes and taxes so much less in DE than MD?

Asked by Pat, Wilmington, NC Sun Aug 24, 2008

Are the cheaper taxes "made up" by other fees? Any other "hidden costs" we need to be aware of moving from NC?

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Property taxes are lower in DE because the state pays for 80% of the school budgets, thereby reducing the school burden on homeowners. Many major corporations incorporate in DE (because of favorable laws) , and pay taxes here- which is a large source of state revenue, permitting DE to fund the schools from coprporate tax revenues. DE has no sales tax and fees are very reasonable. State income taxes are pretty typical, topping out at 5.5%, but includes substantial breaks for senior citizens. I don't believe homes are that much less here if you compare like homes to one another. DE may appear to have lower cost housing, statistically speaking, because much of the housing stock is made up of smaller and more modest homes, thereby skewing the numbers. I've lived here for 3+ years, and hope this helps you. AEM
0 votes Thank Flag Link Mon Sep 1, 2008
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