First-time homebuyers may get realty transfer tax relief

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First time home buyers in Delaware could get some extra money in their pocket.

A proposed bill in the State House would refund first-time home buyers a portion of the realty transfer tax that increased last August. The bill would be retroactive, so any first time home buyer who purchased after the increase could get money back.

House Speaker Pete Schwartzkopf introduced the legislation, and says, “if we can provide some relief and lift some financial burden around finding a home, we should.” Ironically, Rep. Schwartzkopf also introduced the legislation last year that increased said burdensome realty transfer tax.