Gov Carney Signs Legislation to Require Reassessment of Real Property Every 5 Years

Legislation that requires each county to reassess the value of real property at least once every 5 years has been signed into law by Governor John Carney. House Bill 62 also requires that real property be assessed at its “present fair market value” instead of at its “true value in money.” The bill was signed by the Governor on August 9^th and became effective on that date.