Property tax update

As we navigate the early months of 2024, Sussex County homeowners and investors are exploring property taxes and how the increased assessments will be allocated.

A closer look at property reassessments

Delaware's initiative to reassess property values statewide is making significant strides, with Sussex County in the spotlight. This effort is aimed at ensuring an equal distribution of the property tax burden for maintaining our local taxation system.

This means reassessments will soon reflect more current property values. Property owners are currently assessed based on 50% of a property's 1974 appraised value.

The reassessment, initially scheduled for completion by 2024, has been extended to February 15, 2025. The reassessment project will encompass over 181,600 properties, including residential, farm, commercial, apartments, and utility facilities.

The outcome of the reassessment will be reflected in the tax bills issued in late summer 2025. This adjustment period allows for a smooth transition to the new assessed values, mitigating the impact on homeowners.

Your tax bills: Stability in times of change

Despite the reassessment, Sussex County's fiscal year 2024 has greeted homeowners with a sense of stability. The primary goal of this reassessment is not to increase taxes but to distribute the tax burden more equitably among property owners.

The law mandates that the reassessment be revenue-neutral, meaning it should not result in a net increase in tax revenue. However, individual outcomes may vary, with approximately one-third of properties expected to see a tax increase, one-third a decrease, and one-third remaining the same.

Data collection and appeals

Property owners will receive mailers to verify property data, and Tyler Technologies will conduct site visits, identifiable by their bright yellow vests and county-issued ID badges.

The reassessment process includes provisions for property owners to appeal their new assessments if they believe they do not accurately reflect the market value. Informal hearings and reviews will be available to address discrepancies and ensure fairness.

Investing in our community's future

The revenue collected from property taxes is funding essential services from wastewater infrastructure and public safety enhancements to supporting our local schools.

We encourage you to explore more about your property taxes and the services they support. For detailed information and resources, please reach out to me. -Henry

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