SPONSOR:	Rep. Hocker & Sen. Bunting

HOUSE OF REPRESENTATIVES 146th GENERAL ASSEMBLY

HOUSE BILL NO. 154

AN ACT TO AMEND THE CHARTER OF THE TOWN OF MILLVILLE, CHAPTER 217, VOLUME 24, LAWS OF DELAWARE, AS AMENDED, ENTITLED "AN ACT TO REINCORPORATE THE TOWN OF MILLVILLE" TO AMEND PARAGRAPH (a)(30) OF SECTION 31, ENUMERATION OF POWERS.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Two-thirds of all members elected to each house thereof concurring therein):

Section 1.Amend paragraph (a)(30) of Section 31, Enumeration of Powers, of Chapter 217, Volume 24, Laws of Delaware, as amended, entitled "An Act to Reincorporate the Town of Millville", be and the same is hereby amended by deleting paragraph (a)(30) in its entirety and substituting in lieu thereof the following:

"(30) To levy and collect taxes for any and all municipal purposes upon all real estate and improvements located thereon; provided, however, that the amount to be raised from this source shall not exceed in any one year the sum of more than three percent (3%) of the total assessed value of all taxable real estate and the improvements thereon; and provided further that there shall be no limitation upon the amount which may be raised from the taxation of real estate for the payment of interest on and principal of any bonded indebtedness whether hereinbefore or hereafter incurred;".

SYNOPSIS

This amendment to the Charter of the Town of Millville is intended to revise the limit on the taxes that may be levied and collected on real estate and the improvements thereon in a given year to no more than 3% of the total assessed value.Currently the Charter's limit is $250,000.The Town's current tax rate of .5%, in light of its prior growth, has the Town at the limit.By substituting a percentage, rather than a specific dollar figure, the Town will be able to accommodate its future and projected growth and the necessary budgetary adjustments, without having to request additional amendments to the Charter.