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...]
2018 Indiana Property Tax Exemption Applications Due Soon; Preserving Historical Buildings An Exempt Charitable Purpose
March 14, 2018 Leave a Comment
The Indiana property tax filing season is upon us, with Form 136 exemption applications for the January 1, 2018 assessment date due by April 1st for taxpayers wishing to claim exemptions for real and personal property. Whether an application is due is a fact specific inquiry, depending in part on the property, … [Read more...]
Indiana Tax Court Affirms 81% Charitable Purposes Exemption for Mental Health Facility
December 28, 2017 Leave a Comment
On December 8th, the Indiana Tax Court in Starke County Assessor v. Porter-Starke Services, Inc. upheld a charitable purposes exemption applied to a medical building as of the March 1, 2015 assessment date. Taxpayer operated a community mental health center (CMHC), which was certified by the Indiana Family and … [Read more...]
Prescription for success: Indiana Tax Court again affirms property tax reduction for retail property used as CVS
June 30, 2017 Leave a Comment
On May 25, 2017, the Indiana Tax Court affirmed the assessment reduction for a 10,800 square foot retail store used as a CVS in Monroe County. In Monroe County Assessor v. SCP 2002 E19 LLC 6697 a/k/a CVS 6697-02, the Tax Court considered an appeal by the Assessor for the 2007 to 2013 tax years. The Indiana Board … [Read more...]
Property Tax: Add Value Through Correct Valuation of Student Housing
June 1, 2017 Leave a Comment
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 Tax Court reverses classification of an apartment complex’s common area, modifying application of the 2% v. 3% tax caps
January 2, 2017 Leave a Comment
The Tax Court in Hamilton Square Investment, LLC v Hamilton County Assessor (Oct. 5, 2016) explained, “Indiana’s property tax caps provide taxpayers with credits against their Indiana property tax liabilities” and the “amount of a credit depends on, among other things, a property’s classification (e.g., homestead, … [Read more...]