Summary
Newark, Delaware residents may soon see their property taxes and utility bills rise. The local city council plans to approve a 3.3% increase in property taxes and higher utility rates for water, sewer, and electricity. The planned changes are part of the city's budgeting process for the fiscal year 2026.
Key Facts
- Newark city council plans to raise property taxes by 3.3% for fiscal year 2026.
- Water rates will rise by 12%, and sewer rates will increase by 8%.
- Electricity bills are expected to increase due to higher costs from the Delaware Municipal Electric Corporation.
- The average resident could see utility bills increase by about $520 per year.
- Newark's new city budget, expected to be approved on November 3, is set at $127.5 million.
- Homeowners in Delaware pay some of the lowest property taxes in the U.S., with an effective rate of 0.55%.
- Inflationary pressures are cited as a reason for the tax and rate increases.
