New state slogans, maybe: “It’s good to be #47.” “Fourth to last is awesome.”
Delaware is ranked #47 in the country for state & local tax burden, bested only by the low government takes in Tennessee, New Hampshire and Alaska. Just 8.8 percent of the average Delawarean’s paycheck ends up in the pockets of state and local government. The national average is 11 percent. In case you were interested, Vermont, Maine, New York, Rhode Island and Ohio top the burdensome list with 14.1, 14, 13.8, 12.7 and 12.4 percent, respectively.
Interesting? Where did these numbers come from?
The data was collected by the U.S. Department of Commerce, specifically the Bureau of Economic Analysis and the Census Bureau. The analysis came from the Tax Foundation’s April 2007 (No. 153) Special Report (page 3 of the 12-page report featuring graphs, charts, data and footnotes).
The Tax Foundation is a Washington, D.C.-based non-partisan tax research group whose mission “is to educate taxpayers about sound tax policy and the size of the tax burden borne by Americans at all levels of government. From its founding in 1937, the Tax Foundation has been grounded in the belief that the dissemination of basic information about government finance is the foundation of sound policy in a free society.”
A state’s size – either in population or geography – apparently doesn’t make a difference when it comes to its governments’ appetites for culling cash from its citizenry.
According to the U.S. Census Bureau’s latest projections, Delaware is a small state by population, but there are five smaller and Wyoming claims the distinction as the nation’s smallest yet boasts just the ninth lowest state-local tax burden. According to the info-packed NetState.com, Delaware is a small state geographically too, but it’s also not the smallest – that’s Rhode Island and it’s on the other end of the spectrum – the fourth heaviest state and local tax burden. Alaska is really, really big, geographically speaking, and it’s got the lowest state-local tax burden (and they actually pay people to live there – honest, they receive a check every year).
What makes Delaware so special?
A lot of things, but from a tax burden perspective, the First State has no sales tax, no personal property tax, no real property tax and some other attractive tax circumstances (if I learned anything in real estate class it’s don’t even pretend to believe you can offer legal or tax advice, so contact a competent tax accountant to discuss your individual situation). Also, real estate hasn’t been reassessed here since 1974, so property taxes are low. How low? Frequently potential buyers think the ANNUAL taxes line on the property fact sheets is the MONTHLY rate.
Sales pitch: It’s a pretty good place to live or to retire.
Looking to call Delaware home? Visit ResortQuest Real Estate online for the latest Bethany Beach real estate for sale or the current availability of Sea Colony sales listings.
Sea Colony? Located just south of Bethany Beach, Delaware, “The Premier Family Beach & Tennis Resort Community” offers homes ranging from oceanfront condos to spacious and secluded single family homes, plus a half mile of newly-widened beach, 12 pools (two indoor), world class tennis, fitness centers, activities for all ages, community shuttle and year-round security. For the largest selection of Sea Colony vacation rentals, visit us online for photo galleries, extended descriptions and more.
In the First State (Delaware): It’s good to be #47
New state slogans, maybe: “It’s good to be #47.” “Fourth to last is awesome.”
Delaware is ranked #47 in the country for state & local tax burden, bested only by the low government takes in Tennessee, New Hampshire and Alaska. Just 8.8 percent of the average Delawarean’s paycheck ends up in the pockets of state and local government. The national average is 11 percent. In case you were interested, Vermont, Maine, New York, Rhode Island and Ohio top the burdensome list with 14.1, 14, 13.8, 12.7 and 12.4 percent, respectively.
Interesting? Where did these numbers come from?
The data was collected by the U.S. Department of Commerce, specifically the Bureau of Economic Analysis and the Census Bureau. The analysis came from the Tax Foundation’s April 2007 (No. 153) Special Report (page 3 of the 12-page report featuring graphs, charts, data and footnotes).
The Tax Foundation is a Washington, D.C.-based non-partisan tax research group whose mission “is to educate taxpayers about sound tax policy and the size of the tax burden borne by Americans at all levels of government. From its founding in 1937, the Tax Foundation has been grounded in the belief that the dissemination of basic information about government finance is the foundation of sound policy in a free society.”
A state’s size – either in population or geography – apparently doesn’t make a difference when it comes to its governments’ appetites for culling cash from its citizenry.
According to the U.S. Census Bureau’s latest projections, Delaware is a small state by population, but there are five smaller and Wyoming claims the distinction as the nation’s smallest yet boasts just the ninth lowest state-local tax burden. According to the info-packed NetState.com, Delaware is a small state geographically too, but it’s also not the smallest – that’s Rhode Island and it’s on the other end of the spectrum – the fourth heaviest state and local tax burden. Alaska is really, really big, geographically speaking, and it’s got the lowest state-local tax burden (and they actually pay people to live there – honest, they receive a check every year).
What makes Delaware so special?
A lot of things, but from a tax burden perspective, the First State has no sales tax, no personal property tax, no real property tax and some other attractive tax circumstances (if I learned anything in real estate class it’s don’t even pretend to believe you can offer legal or tax advice, so contact a competent tax accountant to discuss your individual situation). Also, real estate hasn’t been reassessed here since 1974, so property taxes are low. How low? Frequently potential buyers think the ANNUAL taxes line on the property fact sheets is the MONTHLY rate.
Sales pitch: It’s a pretty good place to live or to retire.
Looking to call Delaware home? Visit ResortQuest Real Estate online for the latest Bethany Beach real estate for sale or the current availability of Sea Colony sales listings.
Sea Colony? Located just south of Bethany Beach, Delaware, “The Premier Family Beach & Tennis Resort Community” offers homes ranging from oceanfront condos to spacious and secluded single family homes, plus a half mile of newly-widened beach, 12 pools (two indoor), world class tennis, fitness centers, activities for all ages, community shuttle and year-round security. For the largest selection of Sea Colony vacation rentals, visit us online for photo galleries, extended descriptions and more.