Delaware HB245 amends the tax rate for public schools after a general reassessment, limiting the increase to 10%.
Delaware HB245 amends Title 14 of the Delaware Code to modify how public schools set their tax rates after a general reassessment. The bill allows a maximum 10% increase in the tax rate to maintain revenue neutrality. If a district faces a revenue loss due to reassessment, it can increase the tax rate by up to 10% to compensate. The new tax rate must be calculated and delivered to the county treasurer by the second Thursday in July. The changes apply to all public school tax rates after July 1, 2025.
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