DE HB172

Reduces realty transfer tax for first-time home buyers by ½ percent multiplied by the lesser of property value or $400,000, applying only to the grantee's portion of the tax.

Eliminates state realty transfer tax entirely (reduces to 0 percent) for first-time home buyers with gross income under $45,000 (or combined income under $75,000 for joint purchasers) purchasing properties valued at $250,000 or less.

Refunds any realty transfer tax revenues collected from eligible buyers who qualify for the zero percent reduction.

Applies to transactions entered into on or after August 1, 2017 and sunsets on December 31, 2022.

Does not relieve grantors from paying the grantor's portion of the realty transfer tax.