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2017 Delaware Code
Title 22 - Municipalities
CHAPTER 17. MUNICIPAL TAX INCREMENT FINANCING ACT
§ 1715. Taxation of leased property in TIF District.
Universal Citation: 22 DE Code § 1715 (2017)
Whenever the municipality, as lessor, leases its property within the TIF District, the property shall be assessed and taxed in the same manner as privately owned property, and the lease or contract shall provided that the lessee shall pay taxes or payments in lieu of taxes upon the assessed value of the entire property and not merely the assessed value of the leasehold interest.
74 Del. Laws, c. 145, ยง 1.;
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