Proposed Real EstateTransfer Tax Cut for Delaware

The Delaware General Assembly recently introduced a bipartisan bill that would decrease the Delaware real estate transfer tax from 4% to 3%. The current 4% tax was implemented in 2017 to help offset a state budget deficit. Delaware is ranked as one of the states with the highest real estate transfer tax in the nation.

The bill is currently in the House Administrative Committee and if passed, would restore the tax rate to the pre-2017 level of 3% and would take effect on July 1, 2022.

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