Delaware SB203 amends county tax rate regulations, including setting a maximum rate for Kent County and adjusting tax rates post-reassessment.
Delaware SB203 amends Title 9 of the Delaware Code to revise county tax rate regulations. The bill sets a maximum county tax rate of $0.50 on every $100 of assessed evaluation for Kent County. It also mandates that tax rates be uniform for all real property in the same classification, as required by the Delaware Constitution. Additionally, the bill introduces a "rolled-back rate" for reassessments, ensuring that the tax rate after reassessment does not exceed the previous year's rate by more than 15%.
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