AN TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO THE REALTY TRANSFER TAX.

HB 416 proposes to lower the realty transfer tax in Delaware by reducing the rate by one-quarter of a percent. This change directly affects individuals and entities buying or selling real property within the state, as they would pay less tax on these transactions. The bill achieves this by amending Title 30 of the Delaware Code, which currently governs realty transfer tax regulations. Once enacted, the reduced tax rate would apply to future transfers of real estate covered under the statute.