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DE HB32

Bill

Official Source

Status

Introduced

1/4/2019

Primary Sponsor

Michael Ramone

Click for details

Origin

House of Representatives

150th General Assembly

AI Summary

  • Reduces the state realty transfer tax rate from 3% to 2% on most real estate transfers
  • Reduces the state realty transfer tax rate from 2.5% to 1.5% when a municipality or county has enacted the full 1.5% local realty transfer tax
  • Reduces the realty transfer tax rate on construction-related transfers from 2% to 1% on amounts exceeding $10,000
  • Applies to any real estate transfer pursuant to contracts entered into after the bill's effective date
  • Returns the state tax rate to the level that was in effect prior to August 1, 2017

Legislative Description

An Act To Amend Title 30 Of The Delaware Code Relating To Decreasing The Realty Transfer Tax.

Last Action

Tabled in Committee

3/6/2019

Committee Referrals

Revenue & Finance1/4/2019

Full Bill Text

No bill text available