Report: The ins and outs of Sussex finances
For the first time, Sussex County has a popular financial report, which is a 16-page summary of the 115-page full report. During Sussex County Council's Jan. 9 meeting, Finance Director Gina Jennings went over highlights of the financial report for the fiscal year, which ended June 30, 2023.
Jennings said the report is more user-friendly to taxpayers.
Total revenues in the fiscal year were $114 million compared to $93 million in expenses.
Jobs
More than 85,000 people are employed in the county, including 919 jobs at county's Delaware Coastal Airport and Business Park.
Jennings said for the first time, jobs in the healthcare field (12,959) surpassed retail jobs (12,457).
Other top employers in the county: accommodations and food services, 11,649; manufacturing, 10,251; government, 8,919; construction, 5,945.
Population
The population of the county is nearly 256,000.
2014: 210,849 with per capita income of $41,737, median age of 46.5 and unemployment rate of 5.4%.
2018: 229,286 with per capita income of $50,333, median age of 50.6 and unemployment rate of 3.7%.
2021: 247,527 with per capita income of $59,931, median age of 50.7 and unemployment rate of 4.4%.
Building permits
Building permits were down slightly from the previous year: 2023 – 13,410; 2022 – 13,802; 2021 – 14,501. For reference, there were 7,693 permits issued in 2014.
Taxable value
Jennings said the total taxable assessed value of all properties is $7 billion. She said that number is based on 1974 values and will increase closer to $70 billion after the new assessment.
Top 3: Delmarva Power & Light Co., $46.5 million; Verizon, $22.2 million; Indian River Power LLC, $12.8 million.
Taxes and revenue
In the general fund, the major source of income is taxes, making up nearly 70% of the county's total revenue: Realty transfer: $53.5 million (71% of all taxes collected). Transfer tax was down $9 million in 2023.
Property: $18.2 million. The average single-family home county tax bill is $122.84, which is about 10% of the total tax bill. The other 90% goes to schools.
Fire service: $2.3 million
Lodging: $1.3 million
Other revenue: charges for services, $17.2 million; intergovernmental (state and federal grants, etc.), $14 million; fines and forfeits, $141,000.
Department expenses
Public safety is the largest expenditure for the county at $33.5 million, or 45% of the $78.4 million of expenses (including transfers).
Expenditures: public safety (county only), $25 million, with another $10 million in grants; transfers out, $19.8 million*; grant-in-aid, $18.9 million; general government, $16 million; planning & zoning, $4.6 million; community development, $4.1 million; libraries, $3 million; row offices, $2.6 million; engineering, $2.1 million; economic development and airpark, $1.6 million.
*expenses for moving funds primarily to the capital fund.
Expenditures in public safety include (not all are listed): paramedics, $19.4 million; emergency preparedness, $5.5 million.
County's assets
The county's capital assets (not all are listed): Infrastructure, $360 million; land, $90 million; construction in progress, $70.7 million; buildings, $71.6 million; improvements, $31 million; machinery and equipment, $6.2 million. Total equals $638 million.
Capital projects
At the end of 2023, the sewer department had $93 million worth of projects under construction. The largest projects were: South Coastal Treatment Plant expansion, $54.7 million; Herring Creek sewer area, $15.4 million; Inland Bays Plant stormwater management, $5.8 million.
The county's central sewer system operates with 385 pumps and more than 1,000 miles of underground pipe. The number of equivalent dwelling units added to the system over the past 10 years has increased 34% from 65,735 in 2014 to 88,234 in 2023.
The county also has 3,796 water service EDUs.
In general fund capital projects, at the end of the year, there were $8 million worth of projects under construction. Delaware Coastal Business Park improvements, $6.1 million; western Sussex data center, $800,000; Delaware Coastal Airport improvements, $600,000.
Miscellaneous
Landings at Delaware Coastal Airport: 2023 – 17,850; 2022 – 17,714; 2021 – 17,251.
Both reports are available on the county website at https://sussexcountyde.gov/sites/default/files/PDFs/FY2023_PAFR.pdf and https://sussexcountyde.gov/sites/default/files/PDFs/FY2023_ACFR.pdf.
Reassessment data collection to be complete this spring
Jennings also offered an update on the reassessment project underway across the county.
Data collectors will finish this spring. Residents should receive a preliminary market value in November, with final assessments completed in February 2025.
The county and school districts are capped on how much additional revenue can be generated from assessment. Following assessment, property taxes will be adjusted to ensure the county does not collect more than allowed by statute. “There is no intent to raise taxes by the county in the year of the assessment,” Jennings said.
Residents can appeal their assessment by making an appointment to review the data and value. Instructions on how to schedule an informal review will be included with the notice of tentative value.
The assessments are being done by Tyler Technologies under contract with the county. The market value of a property is determined by site visits to all improved properties, sales data collection, valuation methodology by property class, commercial income and expense data analysis.
Staff analyzes recent sales of similar properties and considers construction costs, and income and expense information when appropriate.
This is the county's first reassessment as all property values are based on 1974 data. Reassessment is being done by court order. The court determined that property values had changed significantly enough since the original assessment was done in 1974 and were no longer representative as the true value of money. The new assessed value will be based on what is believed to be the market value of a property as of July 1, 2023.
The deadline set by the court is July 1, 2025.
