AN ACT TO AMEND SECTION 1, ARTICLE VIII OF THE CONSTITUTION OF THE STATE OF DELAWARE, RELATING TO THE EXEMPTION FROM TAXATION OF REAL PROPERTY.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of all the members elected to each branch concurring therein):
Section 1. § 1, Article VIII of the Constitution of the State of Delaware, is amended by striking said section in its entirety and inserting in lieu thereof a new section to read as follows:
§ 1. Uniformity of taxes; collection under general laws; exemption for public welfare purposes
Section 1. All taxes shall be uniform upon the same class of subjects within the territorial limits of the authority levying the tax, and shall be levied and collected under general laws passed by the General Assembly. County Council of New Castle County and the Levy Courts of Kent and Sussex Counties are hereby authorized to exempt from county taxation such property in their respective counties as in their opinion will best promote the public welfare. The county property tax exempt on power created by this section shall be exclusive as to such property as is located within the respective counties. With respect to real property located within the boundaries of any incorporated municipality, the authority to exempt such property from municipal property tax shall be exercised by the respective, incorporated municipality, then in the opinion of the said municipality it will best promote the public welfare.
Section 2. This Act shall become effective July 1, following its adoption. This Act shall be operative for the fiscal years of the respective counties and incorporated municipalities which commence subsequent to the effective date of this Act.