Chamber of Commerce hosts Jan. 9 meeting for business community
Delaware County, in conjunction with Tyler Technologies will hold a presentation for members of the business community regarding the County’s Tax Reassessment. The meeting will be held on Jan. 9 at 10:00a.m. at the Delaware County Chamber of Commerce (1001 Baltimore Pike Springfield, PA 19064/lower level.)
In March 2017 Delaware County was ordered by the Court to conduct a countywide property tax reassessment, effective for the 2021 tax year. Delaware County Council contracted with Tyler Technologies Inc. in 2017 to provide real property appraisal services for the County’s 2020 general reassessment. The project, which is being implemented through the County Treasurer’s Office is utilizing Tyler’s appraisal and street imaging services.
Delaware County is currently undergoing a county-wide reassessment of all real property resulting in new residential and commercial property values for 2021. For reassessment projects, commercial and industrial properties are valued by the “cost approach” and the “income approach.”
To properly apply the income approach to value, Tyler requires current and relevant income and expense data from owners of commercial, industrial, and apartment properties in the County. This information will be used to develop local economic models that calculate the estimated market value for various types of commercial properties. Property owners and managers are encouraged to complete the income and expense survey forms provided to the best of their knowledge, as accurate and complete information is critical to determining fair and equitable values that reflect current local market conditions and will preclude the use of available published rental and expense information from nearby major commercial markets, such as Philadelphia.
Prior to the distribution of income and expense survey forms, Tyler Technologies will host an informational session with Q&A for local business owners.
Delaware County has set up a website dedicated to educating residents and answering questions regarding Delaware County’s Tax Reassessment Project. The website includes a video presentation on the Tax Reassessment process. The website can be found here: http://delcorealestate.co.delaware.pa.us/delcoreassessment
A Reassessment Hotline has also been set up for residents to call with any questions or concerns: 610-891-5695.