closing

Delaware Realty Transfer Tax

Delaware's tax on real property transfers under 30 Del. C. §5402: a 2.5% state rate plus up to 1.5% local tax, typically 4% total, or a 3% state rate where no full local tax is levied. The statute apportions it equally between grantor and grantee unless the contract adjusts it, and a deed cannot be recorded without proof of payment. A qualifying first-time homebuyer's share is reduced by 0.5% of the lesser of value or $400,000, a maximum $2,000 credit. Transfers between spouses, parents and children, and siblings are exempt.