Eliminating transfer tax for Delaware residents

Thank you Mike Bradley of The Talk of Delmarva – WGMD 92.7 and 98.5 for talking with me about my new proposed bill to decrease the Realty Transfer Tax.

“Delaware has one of the highest real estate transfer taxes in the nation at 4%. If you sell or buy a house for $250,000, the tax bill on that alone is $10,000. One bill that Delaware State Representative Bryan Shupe is sponsoring would target people in Delaware who need help–and tells WGMD’s Mike Bradley about who specifically would benefit….

He says the bill wouldn’t give the same benefit to people who are moving from other states who already have the advantage of lower property taxes, no sales tax, and a lower cost of living. Rather, the bill is aimed at those who are living in and plan to stay in Delaware and who are trying to make ends meet and make a life change.”

Think about the couple that needs to downsize their primary residence due to mobility reasons or the young family that looks for a larger home because their family is growing.

See the radio interview at https://www.wgmd.com/potential-legislation-would-benefit-certain-people-in-delaware-who-pay-realty-transfer-tax-bill/?fbclid=IwAR1gTgobp-uvkkcND6IF7p066YBJofQ9rqTI8zTGRL9LdAZ8uwiwrWmGCUA.