Overview of Delaware Taxes
Delaware boasts some of the lowest property taxes in the nation thanks to a relatively low median home value. The state's effective property tax rate (median property taxes as a percentage of the median home value) is the seventh lowest in the nation.
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To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
Delaware Property Taxes
Delaware’s three counties are responsible for administering and collecting property taxes in the state. Rates vary between and within those counties. Below, we will take a closer look at rates and rules in Sussex, New Castle and Kent counties.
If you’re considering buying property in Delaware, you’ll want to use SmartAsset’s Delaware mortgage guide as a reference for information on rates and getting a mortgage in the First State.
A financial advisor can help you understand how homeownership can fit into your overall financial goals. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
How Delaware Property Taxes Work
Unlike most states, Delaware historically did not reassess property values on a regular schedule. For decades, counties and municipalities based property taxes on values established during their last countywide reassessment, rather than updating assessments to reflect current market conditions. Those reassessment years were quite old by national standards—1974 in Sussex County, 1983 in New Castle County and 1987 in Kent County.
Assessed values were tied to market conditions from those reassessment years, often expressed as a percentage of market value at the time. Municipalities could either rely on county assessments or apply their own valuation methods for local taxes.
That system began to change in 2023, when Delaware enacted a law requiring all real property to be reassessed at least once every five years. As a result, counties are now moving toward more regular, updated assessments, bringing property values closer to current market levels over time.
If a homeowner makes additions to a property or builds a new structure on the lot, the value is reassessed. Even in those cases, however, the assessor does not try to determine current value, rather what the value would have been in the reassessment year. As you can imagine, home prices in the reassessment years for each county were significantly lower than they are now. That means assessed values are a fraction of current market values.
Delaware Property Tax Rates
It is helpful to look at effective tax rates. Effective tax rates are annual taxes paid as a percentage of current market value. The table below shows the effective tax rates, median home values and median annual property tax payments for all three Delaware counties.
Looking to calculate your potential monthly mortgage payment? Check out our mortgage calculator.
New Castle County
While New Castle County has the highest effective property tax rate of Delaware’s three counties, property taxes are still quite low when compared nationwide. The median effective tax rate in New Castle County is about 0.67%. That's more than double the rate in Sussex County. Even so, it means that property taxes on a $200,000 home would be just $1,340 annually.
In Wilmington, the largest city in the state, the property tax rate is $3.7413 per $1000 of the assessed value of a property. However, assessed value is just a fraction of current market value, so the effective tax rate in the city is much lower.
The city of Wilmington also offers a property tax exemption for senior citizens. Seniors can claim an exemption on the first $210,300 of assessed value and may also receive a discount on their sewer and water bills. Qualifying seniors must have a maximum income of $21,150 for married couples or $15,650 for singles, excluding Social Security income.
Sussex County
Sussex County has some of the lowest property tax rates, not just in the state of Delaware, but in the entire country. In fact, a typical Sussex County homeowner pays just $1,216 annually in property taxes, which comes in at about one-third of the U.S. average.
The median home value in Sussex County is about $397,800, so that makes the median effective property tax rate in Sussex County 0.31%.
Kent County
The effective property tax rate in Kent County is about 0.42%. That means the median homeowner pays $1,422 per year in property taxes.
It's important to note, however, that actual taxes may vary from the expected amount.
