Buckeye Valley treasurer warns House Bill 96 could shrink local revenue; board approves five-year forecast, appropriations and begins bond-refinancing review

Treasurer Kelly told the Buckeye Valley Local Board of Education on Sept. 1 that proposed property-tax changes in House Bill 96 and potential county actions could materially reduce the district's local revenue and complicate long-term budgeting. The board approved the district's five-year forecast and final appropriations for fiscal 2026 and later authorized staff to pursue possible refunding (refinancing) of outstanding general-obligation bonds issued for elementary schools in 2015.

Kelly, the district treasurer, said about 47% of the district's revenue currently comes from property taxes and that about 80% of total revenue is local. "Forty-seven percent of our revenue is property tax," Kelly said, emphasizing how dependent the district is on local taxpayers and how sensitive the forecast is to changes in state or county policy.

The treasurer framed the forecast as unusually uncertain because the state's budget-related changes arrived sooner than in prior years and because the governor's signings were followed by potential legislative line-item changes. Kelly said some provisions were vetoed but that several proposals affecting valuations and local tax credits remained live. One specific risk she described was a county-level piggyback homestead exemption that, if adopted by Delaware…