Delaware HB463 amends local school tax laws to allow districts to levy additional taxes and adjust exemption amounts based on reassessment.
Delaware HB463 amends Title 14 of the Delaware Code to allow school districts to levy additional taxes for school purposes on assessed real estate values. It specifies that certain real estate exemptions must be adjusted following county-wide reassessments to reflect changes in property value and inflation. Additionally, New Castle County must use the same eligibility criteria and exemption amounts for school tax exemptions as those used for county property tax exemptions starting in the 2027 fiscal year.
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- Core Provisions
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- Legal Framework
- Critical Issues
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