SB322 amends Delaware's local school tax laws to allow annual tax rate increases without a referendum.

SB322 amends Title 14 of the Delaware Code to allow school boards to increase local school taxes annually by up to 2% without a referendum, provided certain conditions are met. This change aims to provide school districts with more predictable and transparent flexibility to adjust tax rates in response to challenges such as inflation and increased operational costs. The bill also ensures that school tax rates are forward-looking and based on the average growth rate in taxable property in the district. The amendments apply to fiscal years starting in 2031 and beyond.

SB322 amends Delaware's local school tax laws to allow annual tax rate increases without a referendum.

SB322 amends Title 14 of the Delaware Code to allow school boards to increase local school taxes annually by up to 2% without a referendum, provided certain conditions are met. This change aims to provide school districts with more predictable and transparent flexibility to adjust tax rates in response to challenges such as inflation and increased operational costs. The bill also ensures that school tax rates are forward-looking and based on the average growth rate in taxable property in the district. The amendments apply to fiscal years starting in 2031 and beyond.