School board approves split tax rate to restore residential tax share; vote 4-1 with one abstention

The Colonial School Board voted to adopt a split tax rate for fiscal year 2025–26 that restores the residential share of the district’s tax burden to last year’s level, a move board finance staff said will reduce the average residential tax increase caused by New Castle County’s reassessment.

The board acted after a presentation from Emily Falcon, the district’s finance lead, who recommended the change to reverse a shift in assessed value that moved roughly $1.6 billion in taxable value onto the residential roll earlier this year. The motion — moved by Ms. Smith and seconded by Ms. Breeding — passed on a roll call tally of four in favor, one opposed and one abstention.

Why it matters: The county reassessment produced a large, districtwide change in assessed values that staff said left residential taxpayers bearing about $8.7 million of additional revenue burden under the previously approved rates. State lawmakers…