Delaware General Assembly

House Revenue & Finance 3/12/24

Committee Hearing takes place within twelve legislative days.

3/12/24

Yearick

Sen. Buckson

Sen. Hocker, Wilson
Reps. Gray, Matthews, D. Short

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO DECREASING THE STATE'S REALTY TRANSFER TAX RATE OF TAXATION.

This Act reduces the State's rate of realty transfer tax by .25% per year for 4 years, for residential property conveyances having a property value less than $500,000, and for commercial property convenances having a property value less than $1,000,000, starting January 1, 2025. After January 1, 2028, the State's realty transfer tax rate will be the same rate as it was prior to August 1, 2017 for these conveyances.

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Takes effect upon being signed into law

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