Get DE 5401(8)CO 2017-2023

The State of Delaware assesses the tax at the rate of 2% on the amount of the construction contract after deducting a $10,000 exclusion.

If the property is located in an area that does not impose a local transfer tax, the state realty transfer tax rate is now 3%. Realty transfer taxes are typically shared equally by the buyer and the seller.

Delaware boasts the seventh lowest property tax rate of any state in the U.S. The average effective property tax rate is just 0.53%. That means that, on average, a home in the state of Delaware with a market value of $200,000 would have taxes of about $1,600 annually. Not in Delaware? No mortgages were found.

How much are transfer taxes in Delaware - and who pays? Transfer taxes in Delaware are 4% of the purchase price of the property, with 2.5% going to the state and 1.5% going to the county. Common practice is for the buyer and seller to split the transfer tax costs evenly, with both the buyer and seller paying 2%.

The State of Delaware assesses the tax at the rate of 2% on the amount of the construction contract after deducting a $10,000 exclusion.

If the property is located in an area that does not impose a local transfer tax, the state realty transfer tax rate is now 3%. Realty transfer taxes are typically shared equally by the buyer and the seller.

The transfer tax in Delaware is currently 4% of the sales price with the State portion at 2.5% and the county portion at 1.5%. The transfer tax is commonly split evenly between the buyer and the seller so buyer pays 2% and the seller pays 2%.

You are exempt from paying transfer taxes on the first $400,000 of your home if this is your first time buying property. The maximum value of this reduction is $2,000. First-time homebuyers who are purchasing property for more than $400,000 will pay a 1.25% tax rate on the amount above $400,000.