Plain English Breakdown
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO LIMITATION ON PUBLIC SCHOOLS' TAX RATE AFTER GENERAL REASSESSMENT.
AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO LIMITATION ON PUBLIC SCHOOLS' TAX RATE AFTER GENERAL REASSESSMENT.
What This Bill Does
- AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO LIMITATION ON PUBLIC SCHOOLS' TAX RATE AFTER GENERAL REASSESSMENT.
- This Act removes the 10% increase in school property tax revenue and replaces it with a school district that can demonstrate that it will suffer a loss of projected revenue resulting from the general reassessment being allowed to increase its rate of taxation up to 2% per year for 5 years or until the district's projected revenue loss per year has been fully realized, whichever comes first.
Limits and Unknowns
- This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.