If you saw an increase due to the court ordered property tax reassessment in 2002, you’re not alone. The change affected many with older homes, with some seeing their taxes more than double. But if you felt the bite of the reassessment bug, there may be a remedy available to ease the pain.
Homeowners who feel their assessment is inaccurate may file an appeal with their local township assessor within 45 days of their tax notice.
Though the new assessment relies on more data such as sales disclosure forms and documented appraisals, the assessors still rely on mass appraisals to come up with the figures. Marion County Assessor Joni Romeril calls the new rules “Indiana’s version of a market value assessment.”
A letter to the township assessor is all that’s required to initiate an appeal, though it is suggested the homeowner complete a Form 130 and file it with both their township assessor and the Marion County assessor. It will take about six months from the date of filing to process the appeal.
Those filing an appeal will need to provide documentation supporting their claim. This may include a recent appraisal, sales disclosure form or pictures of the property. In some instances, such as a physical defect in the home, the homeowner may even request a site visit by their local assessor. According to Romeril, “It is up to the taxpayer to provide information to substantiate their claim; on the other hand the township assessor has to provide reasons to substantiate the assessment.”
In addition to the documentation requirements, homeowners should also know that according to assessment guidelines, their property’s assessment may be off by 10 percent and still be correct. That is, if the assessed value of your home is $100,000, and your documentation shows that the true assessed value of your home should be $90,000, the assessment stands.
Romeril, whose tenure as Marion County assessor began with the new rules, said, “The process has become a lot more rigid as to what can be presented as evidence.”
She added, “Any more it’s like a mini court proceeding.”
To find your township assessor, or to find out more about filing an appeal, visit www.indygov.org/eGov/County/Assessors/home.html.