Delaware set to release updated property values from first reassessment since the 1980s

Nov. 19, 2024 update: New assessment values are now being mailed out for all properties in New Castle County. Property owners will have an informal review window to discuss property details with Tyler Technologies. Meetings can be scheduled in person or via phone conference. Information is on the mailer and meetings should be scheduled within two weeks of mailing date. Formal assessment appeals will be due March 14, 2025. Baker Tilly is currently reviewing these values for our clients and is available to provide a review and recommendation as to further action for all Delaware commercial property owners. 

June 1, 2024 update: The Delaware statewide reassessment is nearing completion in Kent County. Tyler Technologies completed the informal hearings in late winter and early spring, and the Board hearings were completed in early May 2024. Final notices have been mailed and those values will be live on July 1 for tax year 2024.

For New Castle County and Sussex County most of the physical inspections and groundwork is nearing completion. Tyler Technologies has recently mailed out income questionnaires for commercial properties within the counties. It is expected that preliminary values will be mailed in fall 2024 with a window of informal appeal shortly after receipt of notice. If taxpayers are not satisfied with the result at the informal level, there will be an appeal opportunity to the Board in early 2025. Final notices will be mailed to taxpayers May 2025 and values will be live July 1, 2025, for tax year 2025.

Tyler Technologies points out that this schedule is subject to change but given the timeline followed in Kent County this reassessment should remain on schedule.

June 30, 2023 update: House Bill 62 was passed on June 20, 2023 at the Delaware General Assembly to amend Title 9 of the Delaware code relating to the assessment of residential and commercial real estate. This act requires properties to be assessed at least once every five years moving forward. The first of the five-year periods beginning with completion of the upcoming reassessments, with the goal of maintaining present fair market value statewide. [1]

August 2022 update: All three major counties in Delaware, New Castle, Kent and Sussex, have rescheduled their reassessments with either 2023 or 2024 valuation dates. Kent and Sussex counties will be reassessed first with a valuation date from Tyler Technologies of July 1, 2023, and a finalized reassessment by tax year 2024. The now presumed target date for New Castle County reassessed values is July 1, 2024 and finalized reassessment in effect by tax year 2025. Statewide, Delaware commercial property owners will still be given a three-month window to initiate an informal reassessed value appeal with Tyler Technologies, likely due 10 days prior to final informal value notification. It is also highly likely that subsequent board appeal deadlines in each county’s reassessment year will be pushed depending when reassessment notices are issued.