assessment: Northwest Indiana Assessment Trends
- 06/07/07 05:49 AM
Hello everyone, We've been feverishly trying to keep up with assessment notices that have been released in Northwest Indiana in recent months, and are still waiting for a few townships to release theirs. In Porter County, all notices have gone out and it appears that the trend has been an overall increase for residential properties and little or no change, in commercial and industrial properties. In fact I've seen some commercial decreases. What does this mean? Basically this years' Porter County tax bills will probably show a small shift of burden from businesses to homeowners. I've had a little experience helping a few … (5 comments)
assessment: Your 2006 Assessment is coming!
- 03/07/07 02:03 AM
I know everybody involved in real estate, or who owns real estate has been anxiously awaiting the new assessment figures for 2006 payable 2007 taxes. Or at least I hope you know that these numbers will differ from what they were for 2005. The townships in the region have been working feverishly to complete data collection and submission of sales data for their districts to the State for the purpose of trending assessments. The assessors are hoping to release Form-11's (Notice of Assessment) in 30-45 days according to a reliable source. As a property tax specialist, I keep a close ear to the … (1 comments)
assessment: Yes! You can appeal your property tax assessment!
- 12/16/06 05:33 AM
So you've received a notice of assessment on your house and the notice states that if you feel that you could sell your house for the assessed amount or more the value is fair. We have gone to a "fair market system" now right? Wrong! Well, not necessarily...fair market value involves multiple approaches to value: replacment cost, sales comparison and income approach. Obviously the income approach doesn't apply to residential properties, but the replacement cost and sales comparison methods do. The local assessor under state guidelines is using replacement cost with market multipliers and depreciation to determine your fair market value. What can you … (7 comments)
assessment: Assessment Trending
- 12/11/06 04:46 AM
I've had a lot of clients ask me recently what trending is and what it will mean to their bottom line. I like to think of trending as a "mini-reassessment" of real estate values for tax purposes. The township assessor is directed (by the State) to analyze all the recent sales disclosures within a particular "neighborhood" and determine if there has been an upward or downward trend in market values. The assessor is to then apply an equivalent influence factor to the enitire neighborhood thereby bringing values current with the market. Obviously, people tend to believe that this is just a tactic to … (4 comments)
Hello everyone, 
;)
;)
