A letter like this is telling New Castle County property owners their “new tentative assessed value.”
Homeowners throughout New Castle County have just received property reassessment letters giving them the “new tentative assessed value” of their property. And they’re mostly upset, judging from comments on Facebook , because the change is huge and they fear their taxes will go up as much.
That’s wrong.
“ The tax rate will decrease; therefore, DO NOT multiply your new tentative assessed value by the current tax rate,” the letter writes in bold, with more emphasis in underscored all-caps. “The new tax rate will be determined by each taxing authority in 2025.”
The county has promised that the new rate will be revenue-neutral, meaning that the overall taxes collected will not go up or down because of their property reassessment. However, the tax bills for individual properties could go up or down.
In comparison, Delaware Public Media reported that Kent County handled its reassessment by decreasing its tax rate from 36 cents per $100 to 5.72 cents per $100 .