Delaware · Senate Bill 88 · 152nd General Assembly

Realty Transfer Tax/Credit/First-Time Home Buyers/Alter

SB 88 Sponsored by Russell Huxtable Died in committee

  1. Introduced Apr 19, 2023
  2. In committee Apr 19, 2023
  3. Died  
  4. Passed the House  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

This Act alters the State realty transfer tax credit offered to first-time home buyers. Currently, there is a 0.50% reduction in the State realty transfer tax for first-time home buyers for the first $400,000 of value of the property. This Act completely exempts the first $250,000 of value of property purchased by a first-time home buyer from their portion of the State realty transfer tax and removes the first-time…

Read the full title (206 words)

This Act alters the State realty transfer tax credit offered to first-time home buyers. Currently, there is a 0.50% reduction in the State realty transfer tax for first-time home buyers for the first $400,000 of value of the property. This Act completely exempts the first $250,000 of value of property purchased by a first-time home buyer from their portion of the State realty transfer tax and removes the first-time homebuyer tax credit for property valued at $1,000,000 or more. Between $250,000 and $1,000,000, this Act establishes the realty transfer tax applicable to a first-time homebuyer as follows: (1) For property valued from $250,001 through $300,000, the realty transfer tax is reduced to 0.25%. (2) For property valued from $300,001 through $350,000, the realty transfer tax is reduced to 0.50%. (3) For property valued from $350,001 through $400,000, the realty transfer tax is reduced to 0.75%. (4) For property valued from $400,001 through $999,999, the realty transfer tax is reduced by an amount equal to 0.50% multiplied by $400,000. This provides property valued from $400,001 through $999,999 the current realty transfer tax credit offered to first-time home buyers. This Act also makes technical corrections to conform existing law to the standards of the Delaware Legislative Drafting Manual.

Every action

1 step, oldest first, as the legislature records them.

  1. CommitteeIntroduced and Assigned to Executive Committee in Senate · Senate Executive

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 7 cosponsors: 6 Democrats, 1 Republican.

All 7 cosponsors

From Delaware's official records (legis.delaware.gov), checked Nov 1, 2026. Text links go to the official versions; LegiList does not copy bill text.