Delaware HB243 amends school tax rates in reorganized districts based on reassessments and voter approvals.
Delaware HB243 amends Title 14 of the Delaware Code to adjust school tax rates in reorganized districts. If voters approve a specific tax rate or amount and a reassessment occurs before revenue is collected, school boards must recalculate tax rates. Any subsequent tax rate increase requires voter approval. The bill also limits tax rate increases to a maximum of 10% over prior revenue. It specifies how to calculate tax rates based on various assessment-to-sales price ratios.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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