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Property Tax Assessments Are Here and They Are Up in 2021 Here's What You Can Do About It




Here's what you'll learn in this post:

  1. Expectations for next year's Indiana property tax bills

  2. Process for how you can appeal your assessment

  3. Contact information for your local government officials who can help

  4. Links to state resources regarding property tax assessments.

 

Each year as springtime arrives in Southern Indiana, it brings with it sunshine, budding trees, blooming flowers, and the dreaded property tax assessments.


This year is no different as counties in our area begin mailing out the assessments via a document called “Form 11” to property owners of record. And once again homeowners and landlords alike are being shocked as they open the envelope from the local treasurer to find that their property value has literally gone through the roof this year. Meaning next year's tax bills will go up yet again for many.


In 2020 we saw property tax assessments increase across the state by about 3.5% on average. This year could be worse. As home values continued to advance in 2020 experts are predicting another increase in taxes and early evidence suggests it could be significantly more than the 3.5% we saw last year.


There is no doubt that prices in our region have moved up across the board. And other than the tax consequences, that is good news for most property owners. But what can you do if you think your property’s assessment is too high? You can appeal.


The state of Indiana provides a way for property owner’s to appeal their tax assessment in an effort to lower their tax bill. Here’s what you’ll need to do:


  1. Gather evidence to support your case of what you believe is the real value. Find comparable homes in your area that sold for less than your assessed value. If you’ve had a recent appraisal, that could be used as evidence. Here is a link to information regarding acceptable evidence from the state: https://www.in.gov/ibtr/guide-to-appeals/evidence-in-property-tax-appeals

  2. File Form 130 ASAP. You only have 45 days to appeal your assessment, so the clock is ticking. You can find Form 130 here: https://www.in.gov/dlgf/2508.htm

  3. The local appeal board will then schedule a hearing to review your appeal.


Southern Indiana residents can find out more from their specific county here:


Clark:

http://counties.xsoftin.com/clark/default.aspx


Floyd: https://www.floydcounty.in.gov/index.php/floyd-county-government/floyd-county-indiana-assessor


Harrison: https://harrisoncounty.in.gov/index.php/government-harrison-county-offices/land-a-property/county-assessor


One final tool that may be helpful is the State of Indiana’s Property Tax Bill Estimator. This calculator provides a way to estimate what your tax bill would be with and without exemptions and even lets you look back at past years. You can find it at

https://gateway.ifionline.org/CalculatorsDLGF/TaxCalculator.aspx


For more information, use the links above to determine if you have a case for appeal. You can reach out directly to the assessor’s office and I have found that across Southern Indiana the assessors are typically friendly and helpful.


If you are not able to find answers to your questions with the above resources or have other real estate related questions , feel free to message us at 812Living@gmail.com and we will do our best to help you.


This information will remain on our blog at www.812Living.com/blog for future reference and will be updated as needed.



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