HB62 – Requiring Property Value Reassessment Every 5 Years

Properties across Delaware’s three counties, New Castle, Kent and Sussex, haven’t been reassessed in decades – 1983, 1987 and 1974 respectively – and the state currently has no statute dictating the timeline for those reassessments, although there is a constitutional requirement for periodic property assessments.  Hundreds of thousands of properties across the state have vastly differing market values, resulting in funding issue inequities.

Representative Madinah Wilson-Anton has introduced House Bill 62, which will require that properties be assessed every five years. The reasoning, according to Rep. Wilson-Anton, is so that the state can be fairer in its taxation structure, ensuring that property owners finally have parity. 

In its 2020 landmark ruling, the Court of Chancery ruled that Delaware’s existing property tax system violated the Delaware Constitution. The case resulted in a settlement between the parties where the counties would undertake reassessment. The statewide reassessment process for New Castle, Kent and Sussex counties is estimated to be complete by 2025.  This bill would require that the reassessments be completed again by 2030, and so forth.

HB 62 has been assigned to the House Housing Committee. Rep. Wilson-Anton is hopeful that the bill will move quickly from committee to the House for consideration. 

House Bill 62 – Requiring Property Value Reassessment Every 5 Years	Currrent Status – House Housing 3/2/23
House Sponsors – Wilson-Anton, Williams, Baumbach, Harris, Moore, Morrison, Romer	Senate Sponsors – Lockman, McBride, Sturgeon, Hoffner, Sokola, Townsend
House Yes Votes –	Senate Yes Votes –
House No Votes –	Senate No Votes –
House Absents or Not Voting –	Senate Absent or Not Voting –

“Right now, people are paying too much, some too little, and others the correct amount,” said Rep. Wilson-Anton. “This legislation was drafted to ensure we don’t go another three decades with outdated property values that result in inequitable county and school funding streams.” 

“Our school funding system isn’t just outdated; it’s inequitable,” said Sen. Tizzy Lockman, Senate prime sponsor of HB62. “The way we fund our schools does not account for the additional needs of children living in poverty and English language learners. In my years working with community advocates and education stakeholders, we have long known that regularly reassessing property values will help to stabilize school funding across the state.”