Lets say I made a community with the name !home@lemmy.world. If I delete this community, could anyone else later on in the future recreate the community using the !home@lemmy.world name on lemmy.world. Or is it once a community name that is taken, even if it is deleted will not longer be available?
No the community can not be recreated when it is deleted. If there is demand they can pick it up with the instance administrators and the community could be purged which would make them available for recreation.