Delaware HB246 amends tax rate limitations for public schools after reassessment.
Delaware HB246 amends Title 14 of the Delaware Code to modify the limitation on public schools' tax rate after a general reassessment. It allows local school boards to calculate new tax rates with a maximum 2% increase in revenue per year for five years or until the projected revenue loss is fully realized, whichever comes first. The bill also specifies that any subsequent tax rate increase must be approved by voters. This act takes effect on July 1, 2025, and applies to all public school tax rates after that date.
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