Indiana Tax Court denies petition to enjoin the collection of property tax, where Taxpayer failed to show former school building and athletic facility had zero value

Indiana Tax Court denies petition to enjoin the collection of property tax, where Taxpayer failed to show former school building and athletic facility had zero value

Name:  Wigwam Holdings LLC v. Madison County Assessor Date Issued: December 14, 2018 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...]

Delaware Court unlocks opportunities to reduce property tax burden

Delaware Court unlocks opportunities to reduce property tax burden

Reducing property tax assessments can be challenging under the best of circumstances, and distinctions between state tax systems make minimizing that burden across a commercial or industrial portfolio especially daunting.  Delaware's property tax regime is amongst the most difficult systems in the United States, … [Read more...]

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 … [Read more...]

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 was … [Read more...]

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 $22,200 per … [Read more...]

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.  The Grant … [Read more...]