Commerce Associates, LP v. New Castle County Office of Assessment

STRINE, Chief Justice:

I

In this case, the New Castle County Office of Assessment (“New Castle County”) valued office condominium units for real property tax purposes but failed to take into account depreciation. The Superi- or Court affirmed the decision of the New Castle County Board of Assessment Review (the “Board”) upholding New Castle County’s valuation. 1 The property owner appeals, arguing that its office condominium units were over-assessed because New Castle County and the Board did not factor in the age and resulting depreciation of the units. Because Delaware law requires that all…