Delaware General Assembly

House Revenue & Finance 2/11/22

The General Assembly has ended, the current status is the final status.

2/11/22

Briggs King

Sen. Bonini, Brown

Reps. Gray, Ramone, Michael Smith, Vanderwende

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO REALTY TRANSFER TAX.

This Act authorizes a reduction in the realty transfer tax for senior Delaware residents who have resided in Delaware for at least 10 consecutive years prior to entering into a transaction to sell their primary Delaware residence. This reduction only applies to an amount equal to 1/2 percent multiplied by the lesser of the value of the property, or $400,000. This reduction is modeled after the first-time home buyer reduction previously authorized for purchasers.

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Takes effect upon being signed into law

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