Amends Delaware realty transfer tax rates for residential properties.
This bill amends the Delaware Code to adjust the realty transfer tax rates for residential properties. It eliminates the tax for properties valued at $350,000 or less. For properties valued between $350,000 and $500,000, the tax rate is set at 2 percent. For properties valued above $500,000, the tax rate is 3 percent. The changes are phased in over several years, with full implementation by January 1, 2030.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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