Marion County Indiana Sees Dramatic Assessed Value Increases

Increases in the 30% range were common on commercial/industrial properties as a result of the state ordered reassessment in Marion County.  In July, 2007, the state ordered all real property within the county reassessed when it was found that failure to properly apply the annual adjustment rule lead to "grossly inequitable assessments and tax bills".

The valuation date for the reassessment was January 1, 2005.  The effective date was March 1, 2006.

NO REASSESSMENT NOTICES WILL BE SENT.  Taxpayers will learn the results of their reassessment via their reconciliation tax bills that will be coming out no later than April 14, 2008.  You will have 45 days to appeal after you receive your bill.

This reassessment was done on a fairly quick basis so you want to look at your increase carefully.  Some things to watch out for would be miscalculations, mistakes in applying obsolescence or not taking into consideration market factors.

If you feel your reassessment taxes you more than your fair share contact Ennes & Associates immediately upon receiving your tax bill. 

Property Tax Changes in Florida

On January 29, 2008 the people of Florida voted for a Constitutional Amendment that gives taxpayers four new opportunities to obtain relief: 1. Increased homestead exemption, 2. Portability of "Save Our Homes" benefits, 3. a $25,000 exemption for tangible personal property and 4. a 10% annual assessment increase limitation for non-homestead properties.

No extra action is needed to obtain these benefit except for the portability of "Save Our Homes" benefits.  In that case, you must apply by March 1, 2008 for your new homestead exemption and the transfer of the "Save Our Homes" benefit to your new homestead for 2008.