A long running dispute between the county and Belterra Resort Indiana, LLC may result in the county repaying property tax money to the Casino.
At the April meeting of the Switzerland County Council, county officials discussed the situation, which has been going on since 2009. At the center of the controversy has been Belterra’s assertion that the property is assessed at a greater value than it should be. The casino contends that if it had been correctly assessed at the lower rate it maintains, then it would not have paid the amount of property taxes that it has – and the county should repay that overrage amount to the corporation.
The Indiana Supreme Court’s decision Thursday not to hear a case will likely cost local governments millions of dollars in property tax revenue.
The conflict surrounds property tax valuations of big box stores – in this case, a Kohl’s. Local governments say the assessment should be based on how much value the property is worth to the current user, not some hypothetical future user.
The Indiana Tax Court is taking its oral arguments on the road and heading to Bloomington this week.
A Bexar County arbitration panel rejected arguments by Lowe’s Home Centers to value some of its San Antonio area stores as if they were empty instead of functioning businesses, according to a seven-page decision issued Wednesday.
It’s an argument the North Carolina-based company has successfully used in Michigan and Indiana where major retailers have driven down property values and tax revenue. City officials say a victory for Lowe’s could cost area taxpayers more than $272 million over five years if the home improvement retailer wins.
The Pines Village Retirement Communities in Valparaiso has appealed to the state to recover tax exemptions on more than $20 million in assessed value on its apartments and Meridian Woods Homes condominium development.
The Indiana Tax Court affirmed an appraisal of $592,000 for a woman’s property, holding the owner appealing the judgment failed to relate her evidence for a lower appraisal to a Jan. 1, 2008, valuation date.
Lake County’s assessment appeal deadline is coming up on Monday November 30th for all parcels that received a Notice of Assessment Change for 2015 in October. If you are one of these taxpayers, you need to act now in order to preserve your ability to appeal the 2015 value.
Innovative Property Tax Solutions is the full-service property tax consulting firm that can bolster your bottom line and help minimize your property tax liability. We provide a thorough review and analysis of your situation, ensuring you pay no more than your fair share in property taxes. Our team of Certified Level III Assessor/Appraisers has many years of experience in this industry, working with tax liabilities of all sizes and scopes on both the public and private side of valuation. We know this business and have the tools to be a valuable asset to your operating team.
Call us today to see how you could be overpaying. A short conversation with one of our experts could save you time, frustration, and money.
With about a fourth of the Lake County parcels having been reassessed, Notices of Assessment have been sent out to those tax payers. This affects over 55,000 parcels in the county. The Lake County deadline to appeal the new assessed values for 2015 will be November 30th. All other parcels, not receiving a notice, will still be able to appeal once tax bills come out in the spring.
If you own one of the 55,000 parcels that were noticed, you could be overpaying your property taxes in the Spring if you don’t act now.
Give us a call at 219-472-8682 and talk with one of our property tax experts. Our risk-free review and analysis of your assessment situation can put valuable dollars back into your bottom line. Don’t let another year go by without knowing for sure that you are paying only your fair share.