City completes 2020 assessed valuations

posted on: 11/2/2020

Notification of changes to the City of Dover's assessed valuation for the 2020 tax year (fiscal year 2021) will be mailed in the coming week to all property owners.

The City's overall assessed valuation for the 2020 tax year increased by nearly $200 million ($199,812,210), or 5.4 percent, to $3.901 billion. The assessed valuation's overall increase is 0.4 percent more than 2019, but 4.3 percent less than the 9.7 percent increase in overall assessed valuation in 2018. Though residential sales volume initially decreased with the COVID-19 pandemic, sale prices continued to increase. Towards the end of the summer, sales volume was up.

Overall, public utilities increased 23.2 percent over the past year, followed by a 5.1 increase in residential values. Commercial and industrial assessed values increased by 4.8 percent. While public utilities saw a double-digit increase in valuation, it makes up only 2.3 percent of the City's overall valuation. Residential values make up the bulk of the City of Dover's valuation at 73.8 percent. Commercial and industrial are 23.9 percent of the overall valuation.

The average property assessment of a single-family home in Dover is now $351,205, up 4.27 percent from last year's $336,883 average assessment. A two-family home's average assessment is $337,293, up 7.23 percent over 2019's $314,547 average assessment. The average assessment for a three-family home increased by 7.98 percent to an average assessed value of $367,831. Last year the average assessment was $340,633.

The Department of Revenue Administration (DRA) has not set Dover's tax rate but is expected to in the coming weeks.

Click here to read "Report on Assessed Values and Tax Process for Tax Year 2020" for detailed information on the tax and assessment process. Please note the report is preliminary and will be updated once the DRA sets the tax rate.

Click here to view the assessed values for all properties in the City of Dover.

The City of Dover conducts a yearly assessment process to ensure all properties within the City are assessed at market value as required by state law.

Property owners are encouraged to review the updated valuation information, as well as property record cards, and contact the Tax Assessing Office with questions or for additional information.

Property record cards and other tax assessing information can be accessed in the Tax Assessing Office, located on the first floor of City Hall, during regular business hours, Monday through Thursday, 8:30 a.m. to 5:30 p.m., and Friday, 8:30 a.m. to 4 p.m. Property information can also be accessed through the City's website at https://go.usa.gov/xPVjr.

The Tax Assessing Office can be reached at 516-6014.