Name: Madison County Assessor v. Sedd Realty Company Date Issued: May 22, 2019 Property Type: Shopping Center Assessment Dates: 2009-2012 Point of Interest: The Indiana Board of Tax Review acted arbitrarily and capriciously by applying a capitalization rate that no appraiser relied upon and that was … [Read more...]
Despite Market Value USPAP Appraisal and $0 Acquisition Price, Owner of Special Purpose Property Failed to Prove Assessment of Property Should be Reduced
May 13, 2019 Leave a Comment
Name: Wigwam Holdings LLC v. Madison County Assessor Date Issued: May 8, 2019 Property Type: 220,000 SF building, including a natatorium, auditorium and 8,996 seat basketball facility Assessment Date: March 1, 2015 Point of Interest: Wigwam Holdings LLC (“Holdings”) claimed that an appraisal and … [Read more...]
Proceed with Caution: Depending on the Facts of the Property and the Assessment, Taxpayer or Assessor May have the Burden of Proof for Indiana Property Tax Appeals
May 6, 2019 Leave a Comment
Last week I spoke at a seminar regarding recent developments involving Indiana property tax appeal procedures. Following are summaries of various rulings of the Indiana Board of Tax Review ("IBTR") involving the burden of proof in property tax appeals. The following addresses two statutes -- Ind. Code §§ … [Read more...]
Student Housing Projects – Creative Deal Structures Can Yield Tax Benefits
May 1, 2019 Leave a Comment
Managing expenses is one of the best ways to ensure the long-term profitability of investment properties, and prudent developers know the importance of carefully monitoring and challenging property tax assessments. But student housing, as a subsector populated largely by tax-exempt educational … [Read more...]
Summary of 2019 Property Tax Legislation Passed by the Indiana General Assembly
April 29, 2019 Leave a Comment
The Indiana General Assembly concluded its 2019 legislative session last week, and several bills that passed address Indiana property tax issues, both procedural and substantive. Below is a high level summary of several noteworthy bills. Each bill has passed both legislative chambers, but most have not yet been … [Read more...]
How Office Owners Can Help Lower Sky-High Property Tax Assessments
April 26, 2019 Leave a Comment
Managing fixed expenses is the best way to ensure the long-term profitability of investment properties, especially in a flat market. The largest continuing expense for most commercial properties is the property tax bill, and in a market with skyline-defining properties and headline-grabbing sales prices, tax … [Read more...]