The Delaware Legislature recently proposed several property tax related house bills that will significantly impact commercial property owners in New Castle County. House Bill 242 will permit school districts in New Castle County to reset tax rates for the 2025-26 tax year within 10 days of the bill’s enactment. The bill will also permit different nonresidential and residential tax rates, with nonresidential rates to be no more than twice the residential rate. As tax bills have already been issued, the payment deadline will be extended to October 30, 2025, for districts that implement revised tax rates and issue a second round of bills.
With significant increases in valuation following the first reassessment since 1983, commercial property taxes are anticipated to go even higher under this spilt rate system. As appeal hearings from the reassessment are not anticipated to start until after September 2025, the process to obtain an equitable assessment in New Castle County could take more than two years.
With the higher tax rates for commercial sites, property owners should proactively contact the local Ryan professionals for a review of assessments and to schedule a target valuation discussion. The next appeal opportunity for the remainder of the 2025–2029 cycle is March 13, 2026.
TECHNICAL INFORMATION CONTACT:
Kurt Lieberman
Principal
Ryan
215.405.0410
kurt.lieberman@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.
- Topics
- Kurt Lieberman
- Property Tax
- Delaware