Delaware HB416 amends the realty transfer tax rates and payment schedule in Title 30 of the Delaware Code.

Delaware HB416 amends the realty transfer tax rates and payment schedule in Title 30 of the Delaware Code. The bill sets the tax rate at 3 2 ¾ percent of the property's value unless a municipality or county has enacted the full 1½ percent tax, in which case the rate is 2½ 2 ¼ percent. The tax is payable at the time of document recording, with annual payments for each successive year of the term thereafter. The act takes effect on January 1, 2027.

Delaware HB416 amends the realty transfer tax rates and payment schedule in Title 30 of the Delaware Code.

Delaware HB416 amends the realty transfer tax rates and payment schedule in Title 30 of the Delaware Code. The bill sets the tax rate at 3 2 ¾ percent of the property's value unless a municipality or county has enacted the full 1½ percent tax, in which case the rate is 2½ 2 ¼ percent. The tax is payable at the time of document recording, with annual payments for each successive year of the term thereafter. The act takes effect on January 1, 2027.