Lower Property Taxes are Silver Lining for Landlords in Weak Retail Market – Esther Fung – Fox Business

In April, the Indiana Supreme Court handed Kohl’s Corp. a victory when it agreed not to review a lowered property assessment that was awarded to one of Kohl’s stores because of the growing vacancy and dropping values of other shopping centers in its area.

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If you think your business is overpaying property taxes, give us a call to find out. 219-472-8682.

Group calls for review of commercial tax assessments – Dave Taylor – Tribune Star

An outside review of commercial property assessments is the first recommendation from a group working for more efficiency in Terre Haute and Vigo County government.

A 10-member team study team chaired by restaurant owner Scott Womack released a report Wednesday charging that under-assessment is costing the city and county millions of dollars in property tax revenues.

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Steel firm’s plans to leave Cook County for Indiana blamed on anti-business policies – Michael Carroll – Illinois New Network

A Cook County steel plant is laying the groundwork to relocate to Gary, Ind., after winning the Gary Redevelopment Commission’s go-ahead this week for a 25-acre purchase of industrial land.

The move by Alliance Steel Corp. prompted observers of Illinois’ business climate to say it reflects a continuing out-migration of Illinois businesses looking to escape high taxes, bad public policies and a looming pension crisis. The company expects to employ about 100 people at its planned 250,000-square-foot plant in Gary.

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Downward trend: Predicting base rate of farmland for property taxes – Larry DeBoer – Reporter.net

The late, great George Carlin had a routine about a weather forecaster.

“The forecast for tonight: dark. Continued dark throughout the night, with scattered light in the morning.”

Some predictions are easy.

Predicting the base rate of farmland used to be easy too. The base rate is the starting point for setting the assessed value of farmland for property taxes. The Indiana Department of Local Government Finance recalculates it every year with a capitalization formula. They divide measures of farm income by a rate of return. The base rate for taxes this year is $1,960 per acre.

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St. Joseph County leaders push assessor to cooperate with property tax study – Ted Booker – South Bend Tribune

SOUTH BEND — St. Joseph County commissioners are pushing the assessor, Rosemary Mandrici, to cooperate with a property tax study, with one even threatening part of the funding for her office.

The conflict comes as only three months are left on the year-long, $125,000 taxpayer-funded study of property assessments led by enFocus, a South Bend consulting firm that specializes in data analysis.

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Supreme Court Passes On Costly Big Box Store Property Tax Case – Indiana Public Media – Brandon Smith

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.

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3 Hamilton County school districts pass referendums – IndyStar – Emma Kate Fittes

Voters in three Hamilton County cities passed public school referendums to pay for building expansion in Westfield and teachers and programs in Carmel and Sheridan.

Only 10 of the more than 300 districts in Indiana asked voters to approve a raise in property taxes to benefit the schools during this special election. Three of them — Carmel Clay, Westfield-Washington and Sheridan Community Schools — are in Hamilton County. The area has a precedent for supporting referendums.

Read more…http://www.indystar.com/story/news/local/hamilton-county/2017/05/02/3-hamilton-county-school-districts-pass-referendums/101195884/