Sec. 4-226. - Transfer tax authorized; maximum rate; exemption.
Sec. 4-227. - Additional limitation on rate.
Sec. 4-228. - Number of votes required to pass ordinance imposing tax.
Sec. 4-229. - Ordinance of administration of article.
Sec. 4-230. - Power applicable under all charters.
Sec. 4-231. - When stamps to be affixed to deed before recording.
Sec. 4-232. - Authorized penalty.
Secs. 4-233—4-240. - Reserved.
Sec. 4-226. - Transfer tax authorized; maximum rate; exemption.
In order to provide for the payment of its debts and expenses the city, in addition to the powers now conferred upon it, 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 it shall determine to be paid by the transferor or transferee as determined by it upon the transfer of real property or of any interest in real property, situate within the corporate limits of the city regardless of where the instruments making the transfers are made, executed or delivered or where the actual settlements on such transfers occur; provided, however, no tax levied under this article shall exceed two (2) per cent of the sales price (including the value of assumed mortgages) or fair market value of the real property and providing further that no tax shall be levied on an organization exempted from ad valorem real estate taxes.
(55 Del. L. ch. 94, § 1)
Sec. 4-227. - Additional limitation on rate.
No tax levied under this article shall exceed the difference between any tax levied by the state on the transfer of the same property and three (3) percent.
(55 Del. L. ch. 94, § 7; 58 Del. L. ch. 338, § 1)
Sec. 4-228. - Number of votes required to pass ordinance imposing tax.
No ordinance or ordinances providing for a tax on the transfer of real property under section 4-226 shall become operative unless it shall receive an affirmative vote of two-thirds of all the members elected to the council.
(55 Del. L. ch. 94, § 2)
Sec. 4-229. - Ordinance of administration of article.
The council may adopt an ordinance or ordinances to provide for the effective administration and regulation of any tax adopted pursuant to this article.
(55 Del. L. ch. 94, § 4)
Sec. 4-230. - Power applicable under all charters.
The power and authority granted hereunder shall apply to the city under the present or future charter of the city.
(55 Del. L. ch. 94, § 6)
Sec. 4-231. - When stamps to be affixed to deed before recording.
If the taxing power and authority granted under section 4-226 herein shall be exercised by way of a stamp affixed to a document, the recorder of deeds in and for the county shall not receive for record documents subject to said tax unless stamps are affixed thereto.
(55 Del. L. ch. 94, § 3)
Sec. 4-232. - Authorized penalty.
The council in addition to enforcing this article through civil remedies may adopt an ordinance or ordinances providing that violation of the provisions of ordinances adopted pursuant to this article shall be a misdemeanor punishable by a fine not to exceed five hundred dollars ($500.00) and/or imprisonment not to exceed six (6) months or both.
(55 Del. L. ch. 94, § 5)