HB 298 DE
AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO REALTY TRANSFER TAX.
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Summary
This Act authorizes a reduction in the realty transfer tax for senior Delaware residents who have resided in Delaware for at least 10 consecutive years prior to entering into a transaction to sell their primary Delaware residence. This reduction only applies to an amount equal to 1/2 percent multiplied by the lesser of the value of the property, or $400,000. This reduction is modeled after the first-time home buyer reduction previously authorized for purchasers.
Sponsors (3)
- Ruth Briggs King · primary
- Colin Bonini · primary
- Darius J. Brown Democratic · primary
4 coauthors / cosponsors
- Ronald E. Gray Republican · cosponsor
- Michael Ramone · cosponsor
- Michael F. Smith Republican · cosponsor
- Jesse R. Vanderwende Republican · cosponsor
Action history (1)
- Feb 11, 2022 Introduced and Assigned to Revenue & Finance Committee in House · lower
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