The state of Delaware has the fourth lowest real estate property tax as well as the lowest vehicle property tax in the U.S.
According to WalletHub, the average American spends $2,127 per year on property taxes, which is almost double Delaware’s $1,231. An additional national average of $412 is spent on vehicle taxes, an expense that Delaware residents don’t have.
Delaware’s low tax rate is one of the many reasons why working and living in Greater Philadelphia is one of the best values in the U.S.; out of the largest metro areas in the country, the Philadelphia region ranks the sixth most inexpensive city to live in. Read the Delaware Business Now article to learn more about Delaware’s low state taxes.