Realty Transfer Tax Reduction

February 11, 2026

Delaware State Senator Eric Buckson

Homes are expensive. For many Delaware families, the biggest hurdle is not just the mortgage, but the thousands of dollars due at closing.

I am proud to serve as the Senate sponsor of HB 286, alongside Representative Lyndon Yearick, to reduce and in many cases eliminate the State’s realty transfer tax on residential properties.

This bill eliminates the State realty transfer tax entirely for homes valued at $350,000 or less. For homes valued between $350,000 and $500,000, it gradually reduces the State’s rate by one-quarter percent per year over four years.

That means real savings for Delaware families and first-time homebuyers who are already stretching their budgets to make homeownership possible.

If we are serious about affordability, we have to be serious about lowering the upfront costs of buying a home. This is a practical step in the right direction.