Introduction
Delaware homeowners may qualify for property tax exemptions and credits that can help lower their tax bill. These exemptions benefit seniors, veterans, and disabled homeowners by reducing taxable property values and school taxes.
This guide explains who qualifies for Delaware property tax exemptions, how to apply, and strategies to maximize your property tax savings.
Who Qualifies for Property Tax Exemptions in Delaware?
1. Senior School Property Tax Credit (For Homeowners 65+)
- Provides up to $500 in credit against school property taxes.
- Must be 65 or older by the end of the tax year.
- Must have lived in Delaware for at least 10 years (3 years if applied before 2022).
2. Disabled Veterans Property Tax Exemption
- Available to 100% disabled, service-connected veterans.
- Exempts part or all of a primary residence from property taxes.
- Requires proof of disability from the Department of Veterans Affairs (VA).
3. Homestead Exemption for Low-Income Residents
- Some counties offer reduced property taxes for low-income homeowners.
- Income limits and eligibility vary by county.
4. Agricultural Land Preservation Program
- Provides tax incentives for farmland owners who commit to keeping their land for agricultural use.
How to Apply for Delaware Property Tax Exemptions
Step 1: Obtain the Application Form
- Applications are available at county tax offices in New Castle, Kent, and Sussex County.
Step 2: Gather Required Documents
You may need:
- Proof of age (for senior tax credits)
- Proof of residency (utility bills, Delaware state tax return)
- VA disability certification (for disabled veterans)
- Property ownership documents (deed or tax bill)
Step 3: Submit the Application Before the Deadline
- New Castle County: April 30 deadline.
- Kent County: April 30 deadline.
- Sussex County: January 31 deadline.
Step 4: Receive Your Tax Credit or Exemption
- Once approved, the exemption or credit will be applied to your next tax bill.
Additional Ways to Lower Property Taxes in Delaware
- Appeal your property tax assessment if your home is overvalued.
- Check eligibility for multiple exemptions (some homeowners qualify for more than one).
- Verify your tax bill for errors and request corrections if needed.
Delaware Property Tax Payment Deadlines
- New Castle County: Due September 30.
- Kent County: Due October 31.
- Sussex County: Due January 31.
IRS Compliance & Tax Forms
- Form 1040 (Schedule A) – Deducts eligible property taxes from federal income taxes.
- County-specific exemption application forms – Available at local tax offices.
Conclusion
Delaware offers valuable property tax exemptions for seniors, veterans, and low-income homeowners. By applying for available tax credits and verifying assessments, homeowners can significantly reduce their property tax burden.
For expert property tax planning and exemption guidance, schedule a meeting with our CPA Anshul Goyal by clicking at https://calendly.com/anshulcpa/ now.
Frequently Asked Questions (FAQs)
1. Who qualifies for Delaware property tax exemptions?
Homeowners who are 65+, disabled veterans, or low-income residents may qualify.
2. How much is the Senior School Property Tax Credit?
Eligible homeowners 65 and older can receive up to $500 in school tax credits.
3. Can I apply for more than one property tax exemption in Delaware?
Yes, some homeowners qualify for multiple exemptions, such as senior and veteran credits.
4. When is the deadline to apply for property tax exemptions in Delaware?
Deadlines vary by county but are generally April 30 or January 31.
5. Should I hire a CPA to assist with my property taxes?
Yes, a CPA helps maximize tax savings, ensure eligibility, and reduce overall tax liability.
About Our CPA
Anshul Goyal, CPA EA FCA is a licensed Certified Public Accountant and an IRS Enrolled Agent (EA). He specializes in Delaware property tax planning, homeowner tax deductions, and real estate tax strategies.
Schedule a consultation today with Anshul Goyal, CPA, for expert property tax guidance.