Delaware § 514 - Exemption from taxation; payments in lieu of taxes.
Full text of Delaware Delaware Code § 514 — Exemption from taxation; payments in lieu of taxes., with citation guidance and answers to common questions.
§ 514. Exemption from taxation; payments in lieu of taxes.
The effectuation of the authorized purposes of the authorities created under this chapter shall and will be in all respects for the benefit of the residents of incorporated cities for the increase of their commerce and prosperity, since such authorities will be performing essential governmental functions, and for the improvement of their health, safety and living conditions, and, in effectuating such purposes, such authorities shall not be required to pay any taxes or assessments upon any property acquired or used by them for such purposes. In lieu of such taxes or special assessments an authority may agree to make payments to the city or the county or any political subdivision. The bonds issued by any authority, their transfer and the income therefrom, including any profits made on the sale thereof, shall at all times be free from taxation within this State.
48 Del. Laws, c. 369, § 15; 22 Del. C. 1953, § 514;Source: official Delaware text · Last verified 2026-08-27
Frequently Asked Questions About Delaware § 514
What does Delaware Code § 514 cover?
Section 514 ("Exemption from taxation; 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 § 514?
A common citation format is "Delaware Code § 514" (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 § 514 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.