CHAPTER 427

FORMERLY HOUSE BILL NO. 105

AS AMENDED BY

HOUSE AMENDMENT NO. 1 AND

SENATE AMENDMENT NO. 2

AN ACT TO AMEND CHAPTER 80, TITLE 9, OF THE DELAWARE CODE, RELATING TO COUNTY TAX RATES.

Be it enacted by the General Assembly of the State of Delaware:

Section 1. Amend Section 8002, Chapter 80, Title 9 of the Delaware Code, by adding thereto a new paragraph, to be known and designated as Paragraph (c), which new paragraph shall read as follows:

"When any total reassessment of taxable properties within a county of this State shall have become effective, the county property tax rate levied for the immediately ensuing fiscal year shall not be such as to yield county property tax revenues greater than fifteen per cent (15%) in excess of the total of the county property taxes imposed for the fiscal year immediately preceding the fiscal year in which such reassessment shall have become effective. Any initial assessment made on new construction shall not be taken into account in determining such limitation."

Approved June 15, 1972.