no you will not need to drop the fuel tank. in fact you may not need to even jack up the car.
you will need to drain the tank down as much as you can before you open the sender seal.
on the drivers side of the car on the lower part of the fuel tank you will see the connector plug for the sender and the fuel line.
pop off the connector clean it if needed as it is exposed to water and gets corroded.
pop the fuel line, finish draining any gas that may come out.
you will see the seal ring for the sender. pop that with a large flat head screw driver, a couple of taps on the ears of the ring should open it. turn counterclockwise from what i remember,
the ring comes off and you can pull the sender out with the float.
there will be a rubber o-ring as well watch for it that is the seal for the sender. make sure the sock is on the end of the sender it can fall off inside the tank.
now is a good time to shine a flashlight inside and look at the condition of the inside of the tank and if you see debris inside. if it looks bad inside with rust and huge chunks then i would change the tank as well.
then you can replace the sender and re-assemble. put some vasoline on the new oring seal. the reproduction sender used to come with a new ring and seal. once back together you will need to test calibration. this can be frustrating.
you fill the tank with 5 gallons of gas and the gauge should read about 1/4 tank.
if it doesn't you need to take everything apart again and bend the float arm a little put it back together and retest, then you repeat this until you get the reading you want.
you might want to test the new sender before doing anything, either use a ohm meter or plug in the sender touch the body with it and move the lever and see if the gauge moves with the sender connector plugged in.
my gauge reads low about 3-4 gallons, i didn't care to take everything apart over and over trying to get it perfect.