DE SB204

Authorizes Delaware municipalities to establish different tax rates for residential real property versus nonresidential real property through local law or ordinance

Requires tax rates to be uniform for all properties within the same classification, as mandated by Article VIII, Section 1 of the Delaware Constitution

Codifies existing common law authority that counties and municipalities have long held to separately tax different classes of real property

Eliminates the need for individual charter amendments for each municipality seeking to implement property classification-based tax rates, as was recently done for the City of New Castle

Requires a two-thirds supermajority vote in both legislative chambers for passage because the bill affects municipal charters under Article IX of the Delaware Constitution