Property Tax Appeals - Indiana, Missouri, Kentucky

8 Replies

I have been looking at several properties in the Indianapolis area that currently have assessed values far and above the current list price/sales price. It seems that there are thousands of dollars wasted on property tax that are due to inflated values.

How do you go about your property tax appeal process for your properties? Who (if anyone) do you use to ensure the least amount of tax liability?

It's very easy. Just go to the Marion County tax assesors website. They have a form there.

@Mike D'Arrigo

I guess I should have made this more clear. I work in commercial property tax. I am very familiar with the process and intricacies of Indiana real property tax, but was more curious to see how investors handled it.

Do you hire someone to represent you or conduct them yourself? What is the timeframe normally like? Who do you find knows the most about the market (appraisers, brokers, etc.) 

@Evan Manship I use a vendor member of CIREIA for this service.  Yes, one can do it themselves - but I like to use experts to handle their field while I spend my time doing something more productive.

I'll email you their info.

Evan, don't be dissuaded by it...if they are truly over assessed, I've had great luck getting them corrected via the assessors office in Indy. Had a recent one I purchased dropped by nearly 50k. Helps to have an appraisal, which in this case I had from closing. But I've gotten them dropped significantly without appraisal.

@Evan Manship They will work with you to re-assess based on current rent level.  They have a standard formula they will apply to the rent amount.  At least that was the process a couple years back as I recall.  I was trying to get relief based on purchase price and they were not willing to use that .  I had a large number of them and they proposed doing it this way in Indy.

Evan,

I have filed numerous tax appeals for clients and been very successful in getting the property taxes lowered for them. I will tell you the process can be lengthy, as the last I heard, the county was at least a few years behind in processing all of the appeals.

However, it really depends on the case manager, the CMAs and how well you know the Assessor's staff (he..he..he..).

Happy to answer any questions you may have. PM me.

I just filed two tax appeals by mail for Marion county. How long do they typically take to respond?

@Brian G. It usually takes anywhere between a few weeks to a few months depending on the processing time and backlog at each County.  At some County, you file appeals to an independent Property Tax Appeals Board. If that's the case, you should be able to find their contact number on the Board's website and give them a call one month after your filing.

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