HB 252 – Regular Property Reassessments

Here is a bill that might do the impossible and make it through both chambers in four legislative days. It is out of committee in the House and on the Ready List, though not yet on the Agenda for today.

It is House Bill 252, which ‘requires each county to reassess the value of real property in the county on a regular basis that occurs at least once every 5 years.” Obviously this is a good bill that will prevent the over 30 year gap between the property reassessment being conducted now under Court Order and the last one.

Under the bill, the first 5-year period starts when the reassessments being conducted now under Court Order from the In re Delaware Public Schools Litigation, C.A. No. 2018-0029-VCL (County Track) (Del. Ch.) are completed. 

Property tax reassessments are a political landmine, and that is why the county and lawmakers tend to avoid them, but that then leads to neglect, which leads to inequality, inequity and loss of tax revenue. It is best to swallow the pill now, and put each county on a reassessment schedule now and forever.