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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%.
Pennsylvania realty transfer tax is imposed at a rate of 1 percent on the value of real estate (including contracted-for improvements to property) transferred by deed, instrument, long-term lease or other writing. Both grantor and grantee are held jointly and severally liable for payment of the tax.
It's called a capital gain because the seller is literally gaining more capital for having sold the property than they had when they purchased it. In Delaware, capital gains on real estate investments are considered to be income and therefore subject to taxation at Delaware's capital gains rate.
The state of Delaware does not impose a tax on personal and real property. However, real property may be subject to school district property taxes, county property taxes, any municipal property taxes, and vocational school district taxes.
That 33% increase made Delaware's state realty transfer tax \u2014 at 2.5% \u2014 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 \u2014 in cash.
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That 33% increase made Delaware's state realty transfer tax \u2014 at 2.5% \u2014 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 \u2014 in cash.
You have a capital gain if you sell the asset for more than your adjusted basis. You have a capital loss if you sell the asset for less than your adjusted basis. Losses from the sale of personal-use property, such as your home or car, aren't tax deductible.
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%.
(6) Transfers between certain family members: (i) A transfer between any of the following: (A) Husband and wife. (B) A lineal ascendent-parent, grandparent, great grandparent and the like-and lineal descendent-child, grandchild, great grandchild and the like. (C) Children of the same parent-siblings.
Who pays transfer taxes in Pennsylvania: the buyer or the seller? According to the Pennsylvania Department of Revenue, both the seller and buyer are held jointly liable for the payment of transfer tax. What that means is that the two parties often split the cost equally between themselves.

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