DE HB242

School boards in New Castle County school districts may reset local school tax rates for the 2025-2026 tax year using separate residential and non-residential rates, with non-residential rates between 1x and 2x the residential rate

Total projected revenue from the new tax structure cannot exceed what the district originally projected to collect under its 2025-2026 tax warrant

Districts adopting new rates must report them to New Castle County within 10 business days of the Act's effective date, and the County must adjust or supplement already-issued tax bills accordingly

The property tax payment deadline for adjusted 2025-2026 bills is extended to November 30, 2025, with overpayments credited to future tax liability or refunded upon written request

School districts experiencing cash flow shortfalls due to the extended payment deadline may request advances from State Division I funds