Property Tax Assessment Appeal & Appraisal

Reappraisal & Reassessment For Property Tax Appeals in Indiana (All Counties)

Should you file an assessment appeal?

The assessed value of your real estate should equal what the property would easily sell for (appraised value). If the assessed value exceeds what the property would easily sell for you should file an appeal. If the property is affected by a diminution in value caused by declining prices and market conditions, detrimental conditions i.e. cracked slab, landslide, construction defects, condemnation, environmental problems, or other causes you should file an appeal. Property tax appeals can be filed on any real estate including a home, vacant land, apartment building, commercial, industrial, or special use property.

Before you file for a real property tax assessment appeal you should get an appraisal prepared by an appraiser experienced in appraisals for assessment appeal in Indiana.

Did you know ?

  1. The property assessment appeals board operates under the presumption that the County Assessor is correct in their assessment of your property. In addition, many times the board of appeals is made up of at least one former or active real estate appraiser or Real estate broker.
  2. You must provide substantial evidence (an appraisal) to support your real property assessment appeal claim. As an appraisal expert we are qualified to act as your designated expert witness or represent you at the hearing and provide you with a well researched and documented appraisal of your property. In addition, we are qualified to question the appraisal methodology used by the Assessor in determining the assessed value of your property.
  3. An experienced appraiser can provide well documented “evidence” and have the representation you need to be able to refute inaccurate technical valuation claims that may be made by the assessor. An appraisal by an experienced expert appraiser can provide the documented “evidence” you need in challenging your property tax assessment. The ability to cross exam the County Appraiser by a real estate appraisal expert can often times make the difference of whether your tax assessment appeal is successful or not.
  4. Again, the first step in any property tax assessment appeal is to have a reappraisal of your real estate by an expert to provide documented evidence of your property value.

For further information on tax appeal in your county, see below:
Appeals 101:
http://www.in.gov/dlgf/files/120618_Assessment_Appeals_101-final.pdf

Assessment appeal process with form 130
http://www.in.gov/dlgf/2508.htm

 

How does assessed value affect my taxes?

The assessed value of property by the county and the tax rate applied to this value equals the amount of tax money each property owner is required to pay. The Assessment Appeals process concerns only the assessed value (appraisal) of your real estate either residential home or income property.

Who determines the assessed value of my real estate and how is it determined?

The County Assessor’s office of each county, and is elected by the people, to assess all taxable property within each County. By law, the assessment and appraisal of property involves forming an opinion of a property’s value by a real estate appraiser within the assessors office and listing that value on the assessment roll. In preparing the assessment roll, appraisers in the Assessor’s office estimate a property’s full cash value utilizing several methods. Appraisal is an art and not an exact science and the appraiser’s opinion of value is based on consideration of comparable sales, cost data and in the case of other types of real estate, income & expenses, market capitalization rates, and other relevant appraisal methods used to determine value by an appraiser with the County Assessor’s office.

How do I know what the assessed value of my property is?

A valuation card/letter is mailed to you each year for the regular annual assessment. This card/letter contains important information about your residential or commercial real estate, including the appraisers assessed value opinion as of January 1, referred to as the “lien date”.

What if I disagree with the assessors appraisal and assessed value of my real estate either home or income property?

Your first step is to get an appraisal prepared by a Qualified State Certified Real Estate Appraiser. Then click on the real property tax appeal link above and file the appropriate forms for a tax appeal.

Differences of appraisal opinion can and do arise. Real property owners have a right to challenge their real estate assessments by filing an application for changed assessment with the Assessment Appeals Board. The key is to provide a well documented appraisal report by a qualified Real Estate Appraiser who is a State Certified General appraiser.

You are also urged to contact the Assessor to verify the circumstances of the assessment. This will assist you in understanding the method used in the appraisal of your real estate. You may also ask the appraisers at the Assessor’s office for an informal review. Armed with a well documented appraisal report prepared by a State Certified Real Estate Appraiser may result in an adjustment without requiring further action. Be sure to check with the Assessor for any form or filing deadline that may apply to an informal review.

Who can file an Assessment Appeal application?

Any property owner who disagrees with the assessed value (appraisal) of his/her property may file an appeal. Although not required, a property owner may have a real estate attorney, home or commercial appraiser, family member or professional tax agent file on his/her behalf.

Do I have to file an application every year?

Possibly. If you disagree with the assessed value of your property, can support it with evidence such as a residential home or commercial appraisal, and are not satisfied with the outcome of an informal review with the Assessor, you may wish to file an assessment appeal application.

For additional information on property tax liens appraisals, foreclosure real estate, appraisals for IRS tax matters, real property tax appeal, property tax sale and bankruptcy, please call us for a consultation.

Disclaimer: All information that we provide on our web site is of a general nature. It is not intended to address the circumstances of any particular individual or entity. Even though we strive to provide accurate and timely information, we do not guarantee that such information is accurate. No one should act upon such information without appropriate professional advice after a thorough examination of the facts of their particular situation. As appraisers we are not attorney’s, tax professionals, financial planners or accountants. The above is not intended to give advise on legal, tax, financial planning, or accounting matters. Please check with your attorney, tax adviser, financial planner, and accountant for information regarding said matters. We do not intend to provide appraisal of any specific property.