Indiana Tax Court “cannot ignore the parties’ and the Indiana Board’s misapprehension of the law” – applies 1% tax cap to residence that was eligible for (but not entitled) to homestead standard deduction.

Indiana Tax Court “cannot ignore the parties’ and the Indiana Board’s misapprehension of the law” – applies 1% tax cap to residence that was eligible for (but not entitled) to homestead standard deduction.

Name: Purdom v. Knox County Assessor, Knox County Property Tax Assessment Board of Appeals, and Indiana Board of Tax Review Date Issued: Feb. 11, 2020 Property Type: Single-family residence Assessment Date: March 1, 2013 Owner was denied the homestead standard deduction for 2013 for a home that she … [Read more...]

Indiana Tax Court reverses classification of an apartment complex’s common area, modifying application of the 2% v. 3% tax caps

Indiana Tax Court reverses classification of an apartment complex’s common area, modifying application of the 2% v. 3% tax caps

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...]

Vacant lot subjected to 3% Indiana property tax “cap” as “nonresidential real property”

Vacant lot subjected to 3% Indiana property tax “cap” as “nonresidential real property”

Indiana applies “caps” to taxpayers’ property tax liabilities, depending on the type of property.  The caps are really credits against taxes imposed above the designated percentage.  For the March 1, 2010 assessment date (for taxes payable in 2011), the cap / credit under Ind. Code § 6-1.1-20.6-7.5 applied as … [Read more...]