SENATE BILL NO. 252
AS AMENDED BY SENATE AMENDMENT NO. 1
AN ACT TO AMEND CHAPTER 273, VOLUME 46, LAWS OF DELAWARE, AS AMENDED, ENTITLED AN ACT TO REINCORPORATE THE TOWN OF ODESSA IN NEW CASTLE COUNTY" BY CONFERRING UPON THE TOWN COUNCIL CERTAIN POWERS RELATING TO THE TAXATION OF REAL ESTATE TRANSFERS WITHIN THE TOWN LIMITS OF ODESSA.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Two-thirds of all the members elected to each House thereof concurring therein):
Section 1. Amend Section 4 of Chapter 273, Volume 46, Laws of Delaware, as amended, by adding thereto the following:
"The Town Council of the Town of Odessa, in addition to all other powers conferred upon it by this Section, shall have the power and authority by ordinance or ordinances to levy, assess and collect or provide for the levying, assessment, and collection of such taxes as shall be determined by the Town Council to be paid by the transferor or transferee upon the transfer of real property or any interest in real property situate within the corporate limits of the Town of Odessa, regardless of where the instruments making the transfers are made, executed, or delivered or where the actual settlements on such transfers occur; provided, however, that no such tax shall be levied upon an organization exempted from ad valorem real estate taxes.
No tax levied under this subsection shall exceed the greater of 50% of the tax levied upon the same property by the State of Delaware or 1% of the sales price. The provisions of §5401 and §5403, Title 30, Delaware Code, shall be applicable to any real estate transfer tax imposed pursuant to this subsection.
No ordinance or ordinances providing for a tax on the transfer of real property or any interest in real property authorized under this Subsection shall become effective unless it receives an affirmative vote of three fifths (3/5) of all elected members of the Town Council of the Town of Odessa. If the taxing power authority granted under this Section shall be exercised by way of a stamp affixed to a document presented for recording, the Recorder of Deeds, in and for New Castle County, shall not receive for record any document subject to such tax unless such stamps are affixed thereto.
The Town Council of the Town of Odessa may adopt an ordinance or ordinances to provide for the effective administration and regulation of any tax adopted pursuant to the provisions of this Subsection.
The Town Council may provide by Ordinance for the collection of such tax by an agent of the Town appointed by majority vote of Council, and shall proscribe in such Ordinance the charge that will be paid for such collection of such real estate transfer tax authorized by this Subsection."
Section 2. No ordinance providing for a tax on the transfer of real property or any interest In real property authorized under this Act shalt become effective until it shall be approved by a majority of the qualified voters of the Town of Odessa at a Special Election to be held pursuant to the provisions of Chapter 273, Volume 46, as amended. Laws of Delaware. The Town Council shall give notice of such Special Election by printing a copy of the Referendum calling the Special Election in at least two (2) issues of a newspaper having a general circulation within the corporate limits of the Town of Odessa within thirty (30) days immediately preceding the date of such Special Election. The notice shall also include the appointed polling place of such Special Election and the hours when it shall be held. Such qualified voters who are in the polling place at the hour appointed for the Special Election to end shall be entitled to vote even though such votes may be cast after the closing time. If a majority of the votes cast at the Special Election shall be in favor of the transfer tax authorized by this Act, the tax may be levied and collected as provided for in this Act. If the majority of the votes cast at any Special Election held under this Act shall be against the levying of the tax authorized by this Act, the proposition shall not again be submitted to the qualified voters until the expiration of ninety (90) days from the date of the said Special Election.
Approved July 12, 1989.