Delaware's realty transfer tax, which can total up to 4% of the purchase price, is considered:
Correct Answer
B) One of the highest in the nation, with a 2.5% state rate plus a local portion, split between buyer and seller
Delaware imposes a state realty transfer tax of 2.5% under 30 Del. C. §5402, and counties or municipalities may impose an additional local transfer tax (typically 1.5%), bringing the total to as much as 4% in many jurisdictions. This makes Delaware's transfer tax one of the highest in the nation. The tax is customarily split equally between buyer and seller, though the split is negotiable. Buyers and sellers should confirm the applicable local rate at the time of closing.
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