Why Should Delaware Care?After last year’s comprehensive reassessment of property, residential property carried more of New Castle County’s tax burden. That led critics to highlight a handful of commercial properties that were seemingly underassessed by tens of millions of dollars, shifting the burden to homeowners. A recent review by the county dramatically raised assessments on three of those properties.
Three of the most controversial properties from last year’s first-in-a-generation property reassessment have quietly increased by hundreds of millions of dollars in value – a change that could result in millions of dollars more for county and school district coffers.
Those properties – the massive Amazon warehouse near Newport, a newly-constructed Buccini Pollin Group apartment complex, and a downtown Wilmington parking garage owned by a banking giant – drew ire from residents and lawmakers alike as some of the biggest examples of a flawed reassessment process…