Delaware § 8155 Assessed valuation; lien for taxes on termination of nonprofit use or ownership

Delaware Statutes

§ 8155 — Assessed valuation; lien for taxes on termination of nonprofit use or ownership

Delaware § 8155

JurisdictionDelaware

Title9

PartCounty Taxes

Ch. 81LIMITATIONS UPON TAXING POWER

Subch.Nonprofit Housing for the Elderly

This text of Delaware § 8155 (Assessed valuation; lien for taxes on termination of nonprofit use or ownership) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 9, § 8155 (2026).

Text

(a)The county board of assessment and the assessment boards of other political subdivisions shall each year establish the assessed value of any property for which exemption is granted pursuant to this subchapter in the same manner as other properties which are taxable are assessed.

(b)In the event that a project granted exemption under this subchapter is ever operated on a profit-making basis or conveyed to a profit-making corporation, organization or other person, or is principally devoted to any purpose other than housing for the elderly as defined in § 8152 of this title, then and in that event, a tax lien shall attach to the land and improvements previously granted tax exemption, in the amount of the taxes which would have been due and owing the county and other political subdivisio

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(a) The county board of assessment and the assessment boards of other political subdivisions shall each year establish the assessed value of any property for which exemption is granted pursuant to this subchapter in the same manner as other properties which are taxable are assessed.

(b) In the event that a project granted exemption under this subchapter is ever operated on a profit-making basis or conveyed to a profit-making corporation, organization or other person, or is principally devoted to any purpose other than housing for the elderly as defined in § 8152 of this title, then and in that event, a tax lien shall attach to the land and improvements previously granted tax exemption, in the amount of the taxes which would have been due and owing the county and other political subdivision for all past years, including interest and penalties, if tax exemption had not been granted.