From Delaware Online
New Castle County has agreed to recalculate the property values it uses to set local tax bills, beginning a process that could lead to widespread changes to property taxes in the coming years.
The commitment was made as part of a legal settlement approved by a Delaware Chancery Court judge last week. The settlement seeks to end the county’s involvement for now in a lawsuit aimed at recalculating unconstitutional property tax valuations throughout the state.
As of now, Kent and Sussex counties, which are also defendants in the lawsuit, have not submitted a similar agreement, meaning litigation involving the future recalculation of tax values in those counties will continue.
The New Castle County agreement was prompted by a judge’s ruling last year that the long-term lack of a reassessment of local property values used to calculate tax bills has led to a system where some property owners get artificial tax breaks and some pay more than their fair share based on their property’s actual worth.