HOUSE BILL NO. 554
AN ACT TO AMEND CHAPTER 94, VOLUME 55, LAWS OF DELAWARE, RELATING TO THE TAXATION OF REAL ESTATE TRANSFERS WITHIN THE CITY OF WILMINGTON.
WHEREAS, HOUSE BILL NO. 503 of the 126th General Assembly, as amended by Senate Amendment No. 1 and House Amendment No. 2, appearing as Chapter 297, Volume 58, Laws of Delaware, increases the rate of the realty transfer tax levied by the State of Delaware from one per cent (1%) to two per cent (2%); and
WHEREAS, the City of Wilmington is empowered to levy a tax upon transfers of real estate within the City of Wilmington by Chapter 94, Volume 55, Laws of Delaware; and
WHEREAS, Section 7 of said Chapter 94, Volume 55, Laws of Delaware, limits the amount of the tax which may be levied by the City of Wilmington to the difference between the tax levied by the State of Delaware on the same property and two per cent (2%); and
WHEREAS, it was not the intent of the General Assembly to affect the power of the City of Wilmington to levy a tax on the transfer of real property by passage of House Bill No. 503, as amended by Senate Amendment No. 1 and House Amendment No. 2.
Be it enacted by the General Assembly of the State of Delaware (Two-thirds of all the members elected to each Branch thereof concurring therein):
Section 1. Section 7 of Chapter 94, Volume 55, Laws of Delaware, is amended by striking the phrase "two per cent (2%)" and substituting in lieu thereof the phrase "three per cent (3%)."
Section 2. The provisions of Section 1 of this Chapter shall be retroactive in effect to August 1, 1971.
Section 3. Nothing in this Chapter shall be construed to require the State of Delaware nor any municipality to refund any real estate transfer taxes collected by the State of Delaware or any such municipality.
Section 4. If any section, sentence, phrase or word of this Chapter or circumstances arising out of the application thereof shall be declared unconstitutional under the Constitution of the State of Delaware or the United States by a state or federal court of competent jurisdiction, the remainder of this Chapter shall be unimpaired and shall continue in full force and effect.
Approved February 2, 1972.