At the Board meeting held earlier this week, we took action to approve the tax rate for the upcoming year. However, due to the reassessment, this process looked a bit different than prior years. Because the reassessment process caused a dramatic increase to our tax base, we rolled back our rate, in accordance with Delaware law.
During the presentation and discussion around this issue, we reviewed several factors that influenced our decision.
- While the reassessment process is complete, the appeals process is not. The properties that have pending appeals account for 10% of our total tax base, which means that we cannot be certain what amount of revenue will ultimately be generated by them.
- Additionally, we learned that the federal government is holding back grant funds nationally for several programs that are worth $1.3 million annually to Colonial. We aren’t certain that we will ever get those grant funds.
Because of these uncertainties, the Board chose to use its discretion to include a 7% revenue enhancement to the rate that was approved. This decision was not made lightly, and our goal was to remain as close to revenue-neutral as possible while maintaining fiscal stability.
This decision reflects our unwavering dedication to keep Colonial students as the focus of our decision and navigating a complex and uncertain financial landscape. We believe this adjustment is a necessary step to safeguard the future of our schools and the success of our students.
We appreciate your understanding and continued support as we work together to uphold the standard of excellence in the Colonial School District.
Sincerely,
The Colonial School District Board of Education
- The tax rate for Colonial for the Fiscal Year 2026 is $0.5517. Information on this year’s property tax bills can be found on the New Castle County website at the link below. You can enter your address and find an electronic version of your bill as well as your new assessed value. https://www3.newcastlede.gov/parcel/search/
- If you feel that your assessed value is not accurate, meaning that you couldn’t sell your home for the amount shown as the assessed value, there is an appeals process available through New Castle County. Unfortunately, the deadline to submit an appeal for this year has already passed but you can find information about the process and timeline here: https://www.newcastlede.gov/390/Board-of-Assessment-Review