DE SB83

Expands compensatory payment eligibility to any municipality with a population over 25,000 and at least 20% tax-exempt state-owned property, in addition to the three county seats (Wilmington, Dover, Georgetown).

Revises payment formulas for county seats: 36.0% of assessed taxes for seats with populations of 50,000 or less and no more than 20% tax-exempt property; 18.0% for seats with 50,000 or less population and more than 20% tax-exempt property; 100.0% for seats with populations above 50,000.

Establishes 12.0% of assessed taxes as the payment rate for eligible municipalities meeting the population and tax-exempt property thresholds.

Maintains the $3,900,000 annual cap on total compensatory payments with a pro-rata reduction mechanism if total calculated payments exceed the cap.

Treats all higher education institutions in the state equally by removing specific exclusions for Delaware State University and University of Delaware from the assessment process.