A new bill introduced in Delaware aims to reduce how often counties are required to reassess the value of real estate. Currently, counties must reassess property values at least every five years, but under the proposed legislation, this timeline would double to once every 10 years. This shift follows decades of reassessment inactivity across the state, with some counties not having conducted reassessments since the 1970s and 1980s.
In response to a court order in 2020 mandating reassessments, the General Assembly passed a bill in 2023 requiring all three counties to reassess their real property every five years. Despite updated property values, tax increases are capped by state law to prevent excessive burdens on property owners.
The new bill seeks to provide counties with more time between reassessments and would align Delaware with a minority of states that have a 10-year timeline between updates. If passed, this legislation could offer relief to property owners and local governments by reducing the frequency of reassessment processes.
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