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DE HB172
Bill
Status
8/3/2011
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 limit from a fixed dollar amount of $250,000 to 3% of the total assessed value of all taxable real estate and improvements.
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Maintains an exemption allowing unlimited taxation of real estate for payment of interest on and principal of bonded indebtedness, whether existing or future.
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Enables the Town of Millville to accommodate future growth and budgetary needs without requiring additional charter amendments, as the current 0.5% tax rate has reached the previous dollar limit.
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Applies the tax limitation only to municipal purposes, not to debt service obligations.
Legislative Description
An Act To Amend The Charter Of The Town Of Millville, Chapter 278, Volume 72, 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
Signed by Governor
8/3/2011