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PHFA issues RFP for PHARE funding to support local housing initiatives

Greene gets $900,000 for housing, blight projects

Greene County has been approved to receive $900,000 in state grant funding for various housing and blight remediation projects.

Bucks County Gets $870K To Address Housing Insecurity

Delaware realty transfer tax must be lowered

The Delaware Association of Realtors calls on the General Assembly to lower the state s realty transfer tax.

Op Ed: The case for reducing the state's real estate transfer tax

Delaware Business Now Burch is the 2021 President, Delaware Association of Realtors Delaware has the highest state Realty Transfer Tax in the nation. That means more cash at the settlement table. That means fewer of our citizens can afford a home. That means those selling a home have less equity to move forward themselves. And when that happens, it means our state’s economy takes a hit. The Delaware General Assembly raised the state Realty Transfer Tax a full 1% in 2017 to counter a projected $400 million budget deficit. That 33% increase made Delaware’s state Realty Transfer Tax at 2.5% the highest in the nation. Add to that the local transfer taxes, and individuals may have to pay as much as 4% of the property’s value at settlement in cash. That is cash required to meet transfer taxes alone, over and above settlement costs, making it hard for Delawareans to own a home and ultimately dealing a blow to real estate market and our state’s economy.