Frequently Asked Questions About the Delaware County Reassessment

(Reprinted from Tyler Technologies)

Why did the County reassess?

The reassessment is being done as a result of a Court Order. The court determined that property values have changed since the last reassessment twenty years ago which created inequities in the value of real estate in the County.

Will the County, School, Or Municipalities Collect More Taxes as A Result of The Reassessment?

A reassessment does not increase or decrease tax revenues. It only redistributes the total tax burden more fairly.

When will the new assessed value take effect?

January 1, 2021

How is my property’s value determined?

The market value of your property is determined by using the property data that was collected earlier in the project. Digital photos were taken of all improved properties (parcels with structures), and then data mailers will be sent to ask you to verify that the collected data is correct. Tyler analyzed recent sales of similar properties, and considered construction costs and income and expense information, when appropriate.

What is market value?

There are several long explanations of market value, but simply put, it is the most probable·price a willing buyer would pay a willing seller for a property on the open market if neither party is under pressure to buy or sell.

How can I tell if my new value is correct?

You should ask yourself, could I or would I sell my property for the amount listed as my new assessment. You can check this against sales of similar properties in your neighborhood. To help you compare, listings of preliminary values and other data for all properties in the County will be available for comparison on the internet at the County’s website. Properties currently for sale can be found on the internet at sites like Realtor.com, Trulia, and Zillow.

Should the preliminary assessed value be the same as the purchase price for my property?

The goal of the assessment equity project is to determine the fair market value of every property in Delaware County. If you purchased your house within the past year and if the purchase was on the open market and had no unusual conditions, the appraised value on your notice should be reasonably close to the sale price, but probably will not be the exact amount. Just because one person is willing to pay a certain amount for a property doesn’t mean that the majority of buyers would be willing to pay the same price. During the valuation process, each property is compared to up to five similar properties to determine the most probable selling price. While sale prices may vary slightly, even for identical properties, the assessor must be equitable in his valuations. Therefore, similar properties will have the same appraised value, even if they might sell for a little more or less than the appraised value.

Along the same lines, even if you appealed your value (assessment) in a prior year to the Assessor’s Office, or to the Board of Assessment Appeals, and the value was adjusted, the revaluation appraises each property as if it had not been valued before. Any prior changes are not considered since those changes were based on the old, outdated system. The new value you receive should be a reasonable estimate of market value and equitable with surrounding properties of a similar type.

Are exemptions included in this preliminary value?

Any existing exemptions are not included in your preliminary value, but will be in the taxable value you receive from the County after the reassessment. (Taxable value equals the assessed value less any exemptions that may be applicable). Questions concerning exemptions must be directed to the Assessor’s Office. Assessment Phone: 610-891-4879.

What if I feel the preliminary value is not close to my property’s value?

If you feel that the value is not reasonably close, make an appointment for an informal review to go over the data and value. Data compiled during the revaluation will be available for inspection at the informal review.

When will I learn the results of the informal review?

No value changes will be made at the informal review, but all information you supply will be reviewed: You will be notified of the results of the review by mail.

What if I am still not satisfied with my assessment?

If you disagree with the results of the informal review, your next step would be to file a formal appeal with the Board of Assessment Appeals.

If I don’t schedule an informal review, do I lose my right to file a formal appeal?

No. You are not required to attend an informal review in order to file a formal appeal with the Board of Assessment Appeals, even if you chose not to schedule an informal review, further legal review is available if you have filed an appeal with the Board of Assessment Appeals.