DE HB343 | 2023-2024 | 152nd General Assembly
Status
Spectrum: Moderate Partisan Bill (Republican 6-1)
Status: Introduced on March 12 2024 - 25% progression
Action: 2024-03-20 - Not Worked in Committee
Text: Latest bill text (Draft #1) [HTML]
Status: Introduced on March 12 2024 - 25% progression
Action: 2024-03-20 - Not Worked in Committee
Text: Latest bill text (Draft #1) [HTML]
Summary
This Act reduces the State's rate of realty transfer tax by .25% per year for 4 years, for residential property conveyances having a property value less than $500,000, and for commercial property convenances having a property value less than $1,000,000, starting January 1, 2025. After January 1, 2028, the State's realty transfer tax rate will be the same rate as it was prior to August 1, 2017 for these conveyances.
Title
An Act To Amend Title 30 Of The Delaware Code Relating To Decreasing The State's Realty Transfer Tax Rate Of Taxation.
Sponsors
| Rep. Lyndon Yearick [R] | Sen. Eric Buckson [R] | Sen. Gerald Hocker [R] | Sen. David Wilson [R] |
| Rep. Ronald Gray [R] | Rep. Sean Matthews [D] | Rep. Daniel Short [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2024-03-20 | Not Worked in Committee | |
| 2024-03-12 | Introduced and Assigned to Revenue & Finance Committee in House |
