DE HB389

Removes the automatic 10% increase in school property tax revenue allowed after a general reassessment of real estate in a county.

Requires school boards to calculate new tax rates that would realize no more revenue than the previous fiscal year following reassessment, with any further increases requiring voter approval through referendum.

Applies the revenue cap to school districts that span county boundary lines, allowing the reassessed county portion to generate only the prior year's authorized revenue plus quarterly updates.

Maintains existing procedures under § 1903 of Delaware Code for voter approval of tax increases beyond the reassessment adjustment.