Property Tax:  Add Value Through Correct Valuation of Student Housing

Property Tax: Add Value Through Correct Valuation of Student Housing

Even in a booming market, managing expenses is the best way to ensure the long-term profitability of investment properties. For most student housing, the largest expense after debt service is property tax. Assessors in college towns are happy to shift the tax burden onto out-of-town students and investors in …

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Indiana Homeowners failed to prove $0 value for partially constructed residence assessed as 100% complete

Indiana Homeowners failed to prove $0 value for partially constructed residence assessed as 100% complete

In Jones v. Jefferson County Assessor (May 4, 2016), Homeowners in Jefferson County argued that their partially constructed home should not have been assessed as 100% complete for the 2008 and 2009 tax years.  In fact, they argued, the residence should be assigned a $0 value for assessment purposes.  The home …

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Indiana Tax Court Upholds Residential Land Value

Indiana Tax Court Upholds Residential Land Value

On September 9, 2015, the Indiana Tax Court upheld the Indiana Board of Tax Review’s decision affirming an assessor’s residential land valuation.  In Cooper v. Allen County Assessor, Homeowners argued that the March 1, 2012, assessment of their 7.78 acres of land should be reduced from $172,500 (nearly …

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Indiana Tax Court Nullifies Retroactive Property Tax Assessments for Lack of Proper Notice

Indiana Tax Court Nullifies Retroactive Property Tax Assessments for Lack of Proper Notice

On May 12, 2015, the Indiana Tax Court ruled on the property tax appeals for two residential parcels owned by Property Development Company Four, LLC (the “Company”), which in 2003 bought two parcels in Grant County upon which two homes (the “Eastway Drive” and “Aspen Court” properties) were built.  …

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Tax Court refuses to reweigh the evidence, affirming the Indiana Board of Tax Review’s final determinations of land value for a gas station and convenience store

Tax Court refuses to reweigh the evidence, affirming the Indiana Board of Tax Review’s final determinations of land value for a gas station and convenience store

In a pair of related decisions issued July 2, 2015, the Indiana Tax Court once again emphasized that it will not reweigh the evidence on appeal from the final determinations of the Indiana Board of Tax Review. Assessor's appraisal is more persuasive for 2010 assessment.  In Kooshtard Property I, LLC, v. Monroe …

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Racquet Club argues for lower land assessments that “felt right,” loses Indiana property tax appeals in straight sets

Racquet Club argues for lower land assessments that “felt right,” loses Indiana property tax appeals in straight sets

On August 21, 2014, the Indiana Tax Court in Indianapolis Racquet Club, Inc. v. Marion County Assessor, Cause No. 49T10-1201-TA-1, affirmed the 2002 assessment of a tennis club situated on three contiguous parcels and comprised of indoor and outdoor tennis courts, locker rooms, and retail and administrative space …

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