Will Indiana property tax rates go down due to new assessments?
I understand the state is going to a market-based assessment of homes vs. the current assessed value (which sometimes is 1/10th of the market appraisal). This will create a HUGE windfall for the state and county governments. Will the property tax % be adjusted down accordingly to account for this? I live in Zionsville (eagle).
It is unlikely. The taxes in Lake County where my family lives went up 3-6 times what they were. My mother has two modest homes there and went from paying about $600 each to almost $2,000 each. She wants to sell one but she cannot because no one is buying where the taxes are so high. It is a mess. Now the solution offered by the general assembly is to raise the homestead exemption for one year and to implement a county income tax to offset the property taxes. How did we go from a $2 Billion dollar surplus to this?
Indiana Property Tax Appeal
|
|
Property tax questions: watch for annual adjustments to value.(ADVICE: LEGAL)(Interview): An article from: Indiana Business Magazine $5.95 This digital document is an article from Indiana Business Magazine, published by Thomson Gale on November 1, 2005. The length of the article is 649 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: P… |
|
|
Uniform assessment of property: Returns for institutional remedies (Working papers in public finance and economics) … |
|
|
The significance of reassessment cycles for property tax performance (Working papers in public finance and economics) … |
