DE HB42

Amends § 1916 of Title 14 of the Delaware Code regarding school district tax rates following general property reassessment.

Removes the automatic 10% increase in school property tax rates that districts could previously impose after a general reassessment.

Allows districts experiencing projected revenue losses from reassessment to increase tax rates by no more than 10% to reach a revenue-neutral position.

Requires any tax rate increase beyond the allowable adjustment to be approved through a referendum by qualified voters in the school district.

Applies the same revenue limitation rules to school districts spanning multiple counties, with each county's portion calculated based on its respective reassessment values.