Delaware HB462 amends Title 14 of the Delaware Code to modify school tax rates and procedures.

Delaware HB462 amends Title 14 of the Delaware Code to revise school tax rates and procedures. It mandates that non-residential tax rates must be at least equal to but no more than 1.85 times the district’s residential tax rate. The bill also requires school boards to follow New Castle County’s residential and non-residential classifications for taxation purposes. It mandates that districts with non-residential tax rates exceeding 1.85 times the residential rate must adjust these rates starting with the 2026-2027 tax year.

Delaware HB462 amends Title 14 of the Delaware Code to modify school tax rates and procedures.

Delaware HB462 amends Title 14 of the Delaware Code to revise school tax rates and procedures. It mandates that non-residential tax rates must be at least equal to but no more than 1.85 times the district’s residential tax rate. The bill also requires school boards to follow New Castle County’s residential and non-residential classifications for taxation purposes. It mandates that districts with non-residential tax rates exceeding 1.85 times the residential rate must adjust these rates starting with the 2026-2027 tax year.