AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO DECREASING THE STATE'S REALTY TRANSFER TAX RATE OF TAXATION.

For conveyances having a property value of less than $350,000, the state will not assess a realty transfer tax. This Act also reduces the State's rate of realty transfer tax by 1/4% per year for 4 years, for residential property conveyances having a property value of $350,000 to $500,000.