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Property Assessments Holding Steady Despite Some Outliers

While some property owners have seen their property value assessments rising, the statewide trends had remained relatively stable.

Tax forms

Photo: MoneyBlogNewz (Flickr)

Re-assessments are based on physical characteristics of the property minus depreciation and market factors that include sales in the neighborhood.

Some Indiana homeowners may be noticing higher property tax assessments, but one Indiana group says it has not yet noted any such trend.

Andrew Berger, director of government affairs for the Association of Indiana Counties, says re-assessments are based on physical characteristics of the property minus depreciation and market factors that include sales in the neighborhood.

“Over the last five years at least, assessed values have been steady,” he says. “In fact in some classes of property we‘ve actually seen a small percentage decline in statewide assessed value.”

Berger says it has been years since a general re-assessment and that may be behind higher tax assessments for some property owners.

Berger says some counties like Marion County may be experiencing delays and back logs. He says homeowners who have issues with their assessments can appeal them through their county assessor office.

Downtown Indianapolis resident Mike Trent says his $180,000 condo was assessed at $247,000 back in 2009. He appealed and won, but says this time around, it has been assessed at $314,000 which he is appealing again.

“A lot of people are just not fighting back and I think they‘re not fighting back because they don‘t think they can win,” he says. “They think they‘re just stuck with what the city does. What people need to do is start getting this appeals process out there and people need to start fighting this.”

Network Indiana

Network Indiana Indiana's Only Audio News Network. Network Indiana is dedicated to providing the state of Indiana important and useful information.

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