Bill > HB73

This bill amends the Delaware Code to increase the maximum senior property tax credit from $500 to $1,000 for all tax years beginning on or after January 1, 2026. The legislation modifies provisions in Titles 14 and 29 of the Delaware Code related to school tax collection and local school board funding. Currently, local school boards can authorize a property tax credit for qualified properties, with the previous maximum set at $500. The new bill raises this cap to $1,000, which means eligible senior property owners can receive a larger tax credit to help offset their school tax burden. The credit is limited to 50% of the remaining tax after other exemptions are applied, and local school boards retain the authority to decide whether to authorize the full credit amount. This change aims to provide additional financial relief to senior homeowners by reducing their property tax expenses.

Government Affairs

https://legis.delaware.gov/BillDetail?LegislationId=141933