Seaford Board discusses reassessment impact, preliminary FY26 tax rate and 10% assessment option

Seaford School District finance staff presented a preliminary estimate of the district’s FY26 tax rate and the likely effect of a possible one-time 10% assessment during the board’s May 12 meeting.

District staff said reassessments raised the district’s total assessed value to roughly $3.4 billion and that the average home in Seaford is now assessed at $221,352. Under the district’s revenue-neutral calculation, staff reported a preliminary tax-rate estimate for FY26 of about $0.29 per $1,000 of assessed value for the current expense portion — a substantial decrease from prior nominal rates because assessed values rose. Staff also said “1p” (one penny per $1,000 of assessed value) would generate about $342,213 under the new assessments.

The presentation emphasized that because of how the tax bill is structured — with county and school components and different allocation percentages — a 10% one-time assessment on the current expense portion would not equate to a 10% increase in taxpayers’ bills. Staff estimated that the practical effect of a 10% assessment would be closer to a 5% change after the county and school apportionments are applied, and that for an average assessed home (about $221,352) the resulting increase would be roughly $3.38 per month (district estimate). The district noted higher-valued homes would pay proportionally more under the reassessment while some lower-valued homes could pay less, producing a split where roughly one-third of owners pay less, one-third about the same, and one-third pay more under a revenue-neutral reassessment.

Staff also described that debt-service portions of the tax bill are set by bond obligations and do not change with the current-expense reassessment calculations. Questions from board members touched on how reassessment affects low-income residents and whether individual assessments are handled separately (staff said each property is assessed individually). Staff noted county appeals are ongoing in some areas and that final assessed values from Sussex County are the basis for the district’s calculations.

The board did not take a final vote on a tax increase or on adoption of a one-time assessment at the May 12 meeting; staff said further recommendations and a preliminary budget that includes salary schedules would be presented at a future meeting.

Ending: The presentation was positioned as preparatory: board members were given updated numbers to inform later budget and rate decisions. The district said additional detail and recommended actions will appear with the preliminary FY26 budget materials at the next board meeting.