HB 245 — Fiscal Note/Fee Impact

… 1, 2025. 2. This Act eliminates the provision of code that allows school districts to increase school property tax revenue by up to 10% following a general reassessment, effective for all rates after July 1, 2025. 3. Estimated loss of local …

… by up to 10% following a general reassessment, effective for all rates after July 1, 2025. 3. Estimated loss of local revenue was compiled by projected revenue increases as provided by each local education agency. Rate increases from July 1, 2 …

… reassessment, effective for all rates after July 1, 2025. 3. Estimated loss of local revenue was compiled by projected revenue increases as provided by each local education agency. Rate increases from July 1, 2025, and earlier were excluded, as …

… 2025, and earlier were excluded, as well as rate increases that were approved by a voter referendum. Total projected revenue for all impacted school districts is shown below. School District Annual Projected Loss of School Revenue Appoquini …

… projected revenue for all impacted school districts is shown below. School District Annual Projected Loss of School Revenue Appoquinimink $ 5,000,000 Capital $ 1,424,000 Christina $ 18,200,000 Colonial $ 5,373,448 Delmar $ 99,664 Indian …

… 433 Smyrna $ 623,711 Woodbridge $ 365,000 Total $ 37,778,881 4. As the Act does not permit new rates to provide any revenue growth, the estimate includes amounts that would have occurred from annual revenue growth prior to the rate change. …

… ot permit new rates to provide any revenue growth, the estimate includes amounts that would have occurred from annual revenue growth prior to the rate change. 5. As no county will undergo a new assessment within the three years of this fiscal n …

… total can be assumed for fiscal years 2026-2028. 3471530032 Page 2 of 2 Date: January 29, 2026 Cost: Local School Revenue Loss Fiscal Year 2026: $ 37,778,881 Fiscal Year 2027: $ 37,778,881 Fiscal Year 2028: $ 37,778,881 Prepared …