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Delaware is Tax Friendly

Are lower taxes enough of a reason to relocate? Maybe not, but it can be the main motivating factor for many Boomers who are preparing for retirement. If you live in New Jersey, a state with one of the highest sales taxes or New York, one of the 5 least tax-friendly states, Delaware is worth a look. Delaware ranks a low 47th when considering tax burden as a percentage of income. With no sales tax and very low property tax, Delaware always makes the list of Tax Friendly states for retirees.

Low taxes alone however will not make you happy. I always tell my real estate clients thatwe don'tbecome different people whenwe retire. We may have more time to do the things we enjoy and we may take up a new hobby or sport, but we will still be the same people. If you like living in the heart of the action where you can walk to everything, you won't be happy ina remote community an hour away from the things you enjoy. In Delaware, you would be more content living in a town like Lewes, Rehobothor Milton. If you love being near the beach with access to great restaurants and shops, these arewonderful places to live. And, the taxes on a multi-million dollar beach house here are probably less than you pay now on a $400,000 home inNew Jersey. Something to think about!

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