How much will the income tax increase cost those who pay income tax in the City of Delaware?
To pay for the facility, the Delaware income tax rate would be raised from 1.4% to 1.55%, which is a 0.15% increase in the rate until paid (expected to be within 20 years)*. For a family with a household income of $75,000, the new rate would cost approximately $112 additional per year. According to the most recent census information available, the median household income in Delaware is $51,422, which means the average Delaware household would pay approximately $77 additional per year. *Once debt is paid, the income tax will roll back to 1.4%.
