Delaware § 4318 - Tax exemption; payments in lieu of taxes.
Full text of Delaware Delaware Code § 4318 — Tax exemption; payments in lieu of taxes., with citation guidance and answers to common questions.
§ 4318. Tax exemption; payments in lieu of taxes.
The property of an authority is declared to be public property used for essential public purposes, and such property and an authority shall be exempt from all taxes and assessments of the city, the county, the State or any political subdivision thereof. In lieu of such taxes an authority may agree to make annual payments to such city or county for improvements, services and facilities furnished by such city or county for the benefit of the housing project, in amounts not to exceed the regular taxes which would be levied on such projects by the aforesaid taxing bodies if the project were not exempt therefrom. Bonds and other obligations of an authority are declared to be issued for an essential public and governmental purpose and to be public instrumentalities, and together with interest thereon and income therefrom, shall be exempt from taxes.
Code 1935, § 5471A; 43 Del. Laws, c. 241, § 1; 31 Del. C. 1953, § 4319; 56 Del. Laws, c. 108, § 1;Source: official Delaware text · Last verified 2026-08-27
Frequently Asked Questions About Delaware § 4318
What does Delaware Code § 4318 cover?
Section 4318 ("Tax exemption; payments in lieu of taxes.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 4318?
A common citation format is "Delaware Code § 4318" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 4318 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.