CHAPTER 286
FORMERLY
SENATE BILL NO. 336
AS AMENDED BY SENATE AMENDMENT NO. 1
AN ACT TO AMEND AN ACT ENTITLED "AN ACT TO REINCORPORATE THE CITY OF LEWES", BEING CHAPTER 170, VOLUME 57, LAWS OF DELAWARE, AS AMENDED, CONCERNING THE PAYMENT OF A REAL ESTATE TRANSFER TAX.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Two-thirds of all members elected to each House thereof concurring therein):
Section 1. Amend subparagraph (a) of Section 378 of Chapter 170, 57 Laws of Delaware, as amended by Chapter 51, Volume 61, Laws of Delaware, by striking said subparagraph (a) in its entirety and substituting in lieu thereof a new subparagraph (a) to read as follows:
"(a) The City Council of The City of Lewes, in addition to the powers now conferred, shall have the power and authority by Ordinance or Ordinances to levy, assess and collect or provide for the levying, assessment and collection of such taxes as shall be determined by the City Council of The City of Lewes to be paid by the transferer or transferee upon the transfer of real property or any interest in real property situate within the corporate limits of The City of Lewes or in any territory outside the corporate limits of The City of Lewes but under the jurisdiction of The City of Lewes, regardless of where the instruments making the transfers are made, executed or delivered or where the actual settlements on such transfers occur; provided however, that no tax levied under this Section shall exceed one percent (1%) of the sales price (including the value of any assumed mortgage or mortgages) or the fair market value of the real property so transferred; and provided further, that no tax shall be levied upon an organization exempted from the payment of ad valorem real estate taxes."
Approved July 2, 1990.