New Castle County v. Historical Society of Delaware

JACOBS, Vice Chancellor:

9 Del.C. § 8104(a) exempts from assessment and taxation by any county or political subdivision of the State, real property that is owned and used by certain specified organizations and is not “held by way of investment.” One of those listed organizations is The Historical Society of Delaware (the “Society”). The Society owns and operates a complex of buildings in downtown Wilmington, Delaware called “Willingtown Square.” One of those buildings, the Coxe House, is currently being leased to a private law firm — a use that prompted New Castle County and its Department of…