Indiana Tax Court affirms removal of Obsolescence Adjustment to Residential Property, as Homeowners fail to show comparable subdivision sales were similar.

Indiana Tax Court affirms removal of Obsolescence Adjustment to Residential Property, as Homeowners fail to show comparable subdivision sales were similar.

Case Name: Marinov and Marinova v. Tippecanoe County Assessor Date Issued: February 20, 2019 Property Type: Single-family residence Assessment Year(s): 2014 Point of Interest: Assessor removed an obsolescence adjustment, causing a 26% assessment increase for a home over its 2013 value. Assessor offered … [Read more...]

Environmental monitoring services and cooling towers not subject to Indiana sales tax

Environmental monitoring services and cooling towers not subject to Indiana sales tax

On December 26, 2018, the Indiana Department of Revenue, in Letter of Findings No. 04-20171229, sustained Manufacturer’s protest against the assessments of sales tax against environmental monitoring services and cooling towers for the 2010 – 2012 tax years. Manufacturer challenged the assessment of sales tax for … [Read more...]

Indiana Tax Court denies motion to dismiss Assessor’s property tax appeal on procedural grounds

Indiana Tax Court denies motion to dismiss Assessor’s property tax appeal on procedural grounds

In Marion County Assessor v. Stutz Business Center, LLC (January 11, 2019), Owner fell short in its effort to cut short an appeal by a County Assessor challenging the Owner’s voluntary withdrawal of its 2012 to 2014 real property tax appeals. Owner withdrew its appeals five days before the scheduled administrative … [Read more...]

Indiana Tax Court affirms assessment for contaminated foundry land, where Owner failed to provide evidence showing the land had a $0 value

Indiana Tax Court affirms assessment for contaminated foundry land, where Owner failed to provide evidence showing the land had a $0 value

Name:  Garrett LLC v. Noble County Assessor Date Issued:  September 24, 2018 Property Type:  Former foundry with environmental contamination Assessment Date:  Jan. 1, 2016 Point of Interest:  Taxpayer claimed that contaminated industrial land purchased for $1 had $0 value, but it offered no probative … [Read more...]

Indiana Board of Tax Review adopts appraiser’s cost approach with “minimally credible” adjustments in valuing restaurant

Indiana Board of Tax Review adopts appraiser’s cost approach with “minimally credible” adjustments in valuing restaurant

Name:  L&R Enterprises, LLC v. Hancock County Assessor Date Issued:  July 2, 2018 Property Type:  Restaurant (freestanding, approximately 5,500 sq. ft.) Assessment Years:  2015, 2016 Point of Interest:  The Indiana Board of Tax Review assigns a value based on the cost approach in the Assessor’s … [Read more...]

Starting in 2019 Indiana General Assembly imposes Heavy Equipment Rental Excise Tax in lieu of Personal Property Tax

Starting in 2019 Indiana General Assembly imposes Heavy Equipment Rental Excise Tax in lieu of Personal Property Tax

In its 2018 legislative session the Indiana General Assembly enacted and the Governor approved House Enrolled Act No. 1323, which starting in 2019 imposes a new excise tax on “heavy rental equipment” while removing such equipment from taxation as personal property.  “Heavy rental equipment” under new Ind. Code § … [Read more...]