FENWICK ISLAND – Field work for a months-long revaluation project is wrapping up in Fenwick Island.
Last Friday, Fred Pearson of Pearson’s Appraisal Services presented the Fenwick Island Town Council with an update on ongoing efforts to reassess all properties within the town’s corporate limits.
“We’ve gone out to the properties, we have reviewed all the exterior information on the property record cards and have taken pictures,” he said. “That’s considered field work, and we’ve got less than 70 parcels left.”
In January, the town selected the appraisal firm to reassess all town properties after it was discovered Fenwick’s last revaluation project took place in 1976. Officials noted that 580 residential properties, or 75 percent of the people in town, paid less than $1,000 in taxes each year.
Pearson told the council last week that officials with Pearson’s Appraisal Services were making visits to review roughly 800 parcels in town.
“My objective is to make sure everybody gets a fair and equitable assessment,” he said.
Pearson’s firm will also create a database for all information that is collected. He anticipates having all the data in by April 19.
“That’s going along slowly,” he said. “You’ve got a lot of complicated homes here … It just takes time to do all that.”
Pearson said notices will be mailed to all property owners in May, with appeals to be heard in mid-May.
“Everybody has been extremely nice, and I’m sure they will be until they get their notices,” he joked. “I do this all the time. I’m very reasonable and if I’ve got something wrong, I’ll be the first one to change it. I welcome input. Anybody with information to help me do my job better I would like to know.”
According to the town’s website, licensed assessors will review information from the property inspection and analyze and compare all recent property sales in each neighborhood. Those comparable sales, as well as variables such as age, size, condition and amenities, are used to formulate the valuations in that specific neighborhood.
Property owners will receive a new valuation through an assessment letter, which will include instructions on how to proceed.
For more information, visit fenwickisland.delaware.gov/projects/, or call Fenwick Island Town Hall at 302-539-3011.
