Pats Loans

****Delaware Homeowners**** It is important to understand the updated Property Tax Assessments that have raised a lot of concern and confusion with homeowners. The intent is to remain revenue neutral but with the new assessment we will see increases, decreases and many staying the same depending on the change in their assessment number. The assessment numbers went up 400-600% from what I have seen but the tax increase is only for those with an assessment increase of 509.2% or more. The purpose of conducting the reassessment is to remedy a Delaware Chancery Court ruling in 2020 that found property taxing systems in each of the state's three counties to be unconstitutional and not in compliance with Delaware law. The tax amounts for 2025 will not be known until closer to the end of the fiscal year but likely no later than 7/1/2025 which is typically when tax bills are generated.

Great news as Delaware State Housing Authority (DSHA) will be rolling out their 10k Grant program for a limited time beginning December 1st. If you or anyone has questions, feel free to contact me. Julianna Lee, Madelyn Hulsey and I will be hosting a home buyer seminar 12/5. Talk about great timing for buyers to attend! Seminar details below;

Thursday December 5th at 6PM
1908 Capitol Trail Ste 3 Newark De 19711
RSVP to [email protected]