Delaware Code § 22-1715

Taxation of leased property in TIF District
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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.

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