Delaware: New Castle County Releases 2025 Assessments; December 20 Informal Appeal Deadline

Ryan’s Property Tax team’s preliminary analysis reveals commercial property owners will likely bear the brunt of tax increases because of the reassessment, especially in the multifamily and industrial sectors. While initial reviews have shown an approximate average of a four times increase in assessment for the majority, it was not uncommon to see a 6 to 10 times increase, which will substantially affect taxes due in 2025.

Property owners have a short window to request informal hearings with Tyler Technologies, the assessing agent for the county, before New Castle County certifies the new values onto its assessment roll. After certification, property owners will have a formal appeal deadline of March 14, 2025 to protest any discrepancies. New Castle County and the other property tax collectors, including cities and school districts, will not finalize tax rates until late spring 2025.

With significant increases in commercial property taxes anticipated in 2025, property owners should proactively contact the local Ryan professionals for a review of assessment notices and to schedule a target valuation discussion. Our Delaware experts have already engaged with Tyler Technologies on numerous preliminary assessments and can provide property owners guidance through this process.

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.