Delaware Code Title 25 Sec. 2232 – Assessments and taxes
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Each unit and its proportionate undivided interest in the common elements, as determined by the declaration and any amendments thereof, shall be assessed and taxed for all purposes as a separate parcel of real estate entirely independent of the building or property of which the unit is a part. Neither the building, the property nor any of the common elements shall be assessed or taxed separately after the declaration and declaration plan are recorded nor shall the same be subject to assessment or taxation except as the units and their proportionate undivided interests in the common elements are assessed and taxed pursuant to the provisions of this section.
25 Del. C. 1953, § ?2232; 54 Del. Laws, c. 282.;
Terms Used In Delaware Code Title 25 Sec. 2232
- Building: means any multi-unit building or buildings or complex thereof, whether in vertical or horizontal arrangement, as well as other improvements comprising a part of the property and used or intended for use for residential, commercial or industrial purposes or for any other lawful purpose or for any combination of such uses. See Delaware Code Title 25 Sec. 2202
- Common elements: means and includes:
- Declaration: means the instrument by which the owner in fee simple or lessee of the property submits it to the provisions of this chapter as hereinafter provided and all amendments thereof. See Delaware Code Title 25 Sec. 2202
- Declaration plan: means a survey of the property prepared in accordance with § 2219 of this title. See Delaware Code Title 25 Sec. 2202
- Property: means and includes the land, the building, all improvements thereon, all owned either in fee simple or under lease, and all easements, rights and appurtenances belonging thereto which have been or are intended to be submitted to the provisions of this chapter. See Delaware Code Title 25 Sec. 2202
- Recorded: means that an instrument has been duly entered of record in the office of the recorder of deeds of the county in which the property is situate. See Delaware Code Title 25 Sec. 2202
- Unit: means a part of the property designed or intended for any type of independent use which has a direct exit to a public street or way, or to a common element or common elements leading to a public street or way, or to an easement or right-of-way leading to a public street or way, and includes the proportionate undivided interest in the common elements which is assigned thereto in the declaration or any amounts thereof. See Delaware Code Title 25 Sec. 2202