Amends Delaware Code to adjust local school tax exemptions based on reassessment and inflation.
This bill amends Title 14 of the Delaware Code to modify local school tax exemptions. It requires real estate exempt from taxation under certain county ordinances to be reassessed for changes in property value and inflation. Additionally, New Castle County must use the same eligibility criteria and exemption amount for school tax exemption determinations as used for county property taxes. The changes apply starting in the 2027 fiscal year.
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