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DE HB154
Bill
Status
6/2/2011
Primary Sponsor
George Bunting
Click for details
AI Summary
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Amends paragraph (a)(30) of Section 31 of the Town of Millville's charter to revise the real estate tax levy limit from a fixed dollar amount of $250,000 to a percentage-based limit of 3% of total assessed value of all taxable real estate and improvements.
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Maintains an exception allowing unlimited taxation of real estate for payment of interest on and principal of bonded indebtedness, whether previously or subsequently incurred.
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Allows the Town of Millville to accommodate future growth and budgetary needs without requiring additional charter amendments, as the current tax rate of 0.5% has reached the previous fixed dollar limit.
Legislative Description
An Act To Amend The Charter Of The Town Of Millville, Chapter 217, Volume 24, Laws Of Delaware, As Amended, Entitled "an Act To Reincorporate The Town Of Millville" To Amend Paragraph (a)(30) Of Section 31, Enumeration Of Powers.
Last Action
Stricken
6/16/2011