Benjamin Franklin’s famous statement — “in this world nothing can be said to be certain, except death and taxes” — remains true to this day. But while the need to pay taxes is unavoidable, the amount you owe for your real estate taxes is not necessarily so set in stone. That amount can be challenged if you think … [Read more...]
Tax Court rejects Indiana Board’s “Throwing Darts” to Conclude to a Capitalization Rate That Neither Party’s Appraiser Offered Into Evidence
May 24, 2019 Leave a Comment
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...]
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...]
Indiana Tax Court denies motion to dismiss Assessor’s property tax appeal on procedural grounds
January 14, 2019 Leave a Comment
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...]