DE HB246

Reduces the maximum allowable increase in public school property tax revenue after a general reassessment from 10% to 2% per year, spread over 5 years

Allows school districts that experience a projected revenue loss due to reassessment to increase their tax rate by up to 10% to achieve a revenue-neutral position

Requires voter approval under § 1903 or a subsequent general reassessment for any tax rate increases beyond those permitted under this subsection

Removes the previous provision allowing a one-time 10% revenue increase plus quarterly updates for districts spanning county lines after reassessment

Takes effect July 1, 2025, and applies to all public school tax rates set after that date