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Property Tax Reassessment: Property Owners Beware

Posted 12:00 PM by

2012 is a real estate tax reassessment year for Indiana real property taxes. This means that every parcel of property in the state will be examined by a county assessor to determine if the assessed value of the property should be increased. Considering the last Indiana property tax reassessment took place 10 years ago (in 2002), the Indiana assessment of property on thousands of parcels of commercial property across the state are expected to increase by the time reassessment is complete.

With this in mind, the first thing a property owner should do when they receive the Form 11 notice of assessment is to look at the assessed value and ask, "Could I sell my property for this price?" If the answer is "no," then it is possible that the property may be over-assessed. In this case, KSM's property tax calculator will estimate the amount of property taxes you may save by filing an appeal.

KSM's property tax leader Chad Miller has more than 12 years of experience in dealing with Indiana's difficult assessment system. Prior to joining KSM, Chad worked as the lead commercial assessor for one of the largest business corridors in the state. As a result, Chad has witnessed firsthand just about every argument an assessor or taxpayer can make for or against an Indiana property tax appeal. Since coming to KSM, Chad and his team have used this experience to lower the Indiana real property taxes for our clients, reducing their assessed value by more than $204,000,000. And that is just in the first six months in 2012.

If you are interested in a free review of your property's assessed value to determine if an appeal makes sense, please contact Chad at 317.580.2058 or cmmiller@ksmcpa.com.

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