By Definition: How do the new deadline changes effect my Indiana property tax bill?

For the first time in a long time, Indiana has created new assessment deadlines across the state depending on the issuance of assessment notices. But how does this effect your tax bill and why should you care?

For those counties that are just now sending January 1, 2018 tax bills and didn’t issue Form-11 Notice of Assessment Change forms (which looks like this), the previously established deadlines found in IN Code 6-1.1-15-1.1 still apply. In this case, taxpayers have 45 days from the mailing of the tax bill to file an appeal. This will be the only date taxpayers have to contest a 2018 assessed value they don’t necessarily agree with.

The change in IN Code 6-1.1-15-1.1 is a whole new set of appeal deadlines across the board for all counties. Here is how it works. Beginning with the January 1, 2019 assessment date, if a taxpayer receives a Form-11 mailed prior to May 1, they have until June 15 of that same year in which to file an appeal of that Notice of Assessment. In other words, using our example of this year…

If you have already received notice of your assessment for 2019 (May 1, 2018 until April 30, 2019), you have until June 15th, 2019 to file an appeal. This will be the only time an appeal can be filed on this assessment.

If a Notice of Assessment is not issued until after May 1, the taxpayer has until June 15 of the following calendar year in which to file an appeal. For counties that use property tax bills as their “notices”, this creates a deadline of June 15th in the following year. As an example…

When you receive your tax bill [in a county not issuing a Form-11 for 2019] for the January 1, 2019 assessment date (most likely in March or April of 2020), the deadline will be June 15th, 2020.

Sound confusing? Let us help. If you have a commercial or industrial property that has not had the property tax assessment reviewed in a while, make sure that becomes a priority. You could be paying for assessment errors or on a total value that exceeds the market value in use of your property. Call us to see if you are being overassessed and see how Innovative Property Tax Solutions can help. 219-472-8682.

Property Tax Assessments Increase for 56 percent of St. Joseph County parcels – Caleb Bauer – South Bend Tribune

SOUTH BEND — When Ryan and Susan Greutman got their new property assessment in the mail this week, they were left baffled, wondering how a 300-square-foot addition to their home could lead to a 59 percent increase in its assessed value.

The couple extended the front wall of their house on the city’s northwest side, so they expected the value of it to increase. But when they received their notice this week, they saw their assessment jump from $123,000 to $194,400.

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If you haven’t reviewed your new assessment yet, don’t wait. You can view property record, as well as anyone’s, on the county’s geographic information system at http://maps.macog.com/.

Check out you new value and give us a call at 219-472-8682 to see if you are overpaying on your property tax bill. Innovative Property Tax Solutions may be able to help.

Indiana Property Tax Bills Due May 10th

Indiana property owners need to have their first installment of the 2018 payable 2019 property tax bills to their county treasurer’s office by Friday, May 10.  The second installment is due later in the year, November 10th (11th because of the weekend this year).

If you haven’t yet made a payment, do so by Friday so as not to incur any penalties. After Friday, penalties and interest begin to accrue. If you have questions on your bill, contact your local official.

If you feel your assessed value may be incorrect or needs reviewed by an expert, give us a call at 219-472-8682 to see if Innovative Property Tax Solutions can help.

Why you’ll likely pay more in property taxes this year – Mary Milz – WTHR.com

INDIANAPOLIS (WTHR) — If you own a home, you’ll soon be getting your property tax bill. Just a head’s up: When you open up your bill you may get hit with a bit of “sticker shock.”

According to the Marion County Treasurer’s Office, 86 percent of homeowners will pay more in property taxes than they did last year. How much more? It depends on several things, including where you live. But bottom line? Deputy Treasurer Joshua Peters said Marion County homeowners are looking at an average increase of roughly eight percent.

“Property values continue to rise as the real estate market continued to do better,” Peters said. That makes for a bigger bill for homeowners.

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Council admits tax increase more than anticipated – Bob Cox – Journal Review

The Montgomery County Council met Tuesday for the first time since the news about the increase of property tax payments for homeowners became available. The issue was discussed in detail by council members and those in attendance. At the end of the meeting it was clear no councilman has the exact answer on the complicated and complex reasons some property tax payments have doubled. Every councilman was as surprised as the general public.

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At Innovative, we ensure the property tax bills you pay each year are correct and free from error.  With increased tax rates, changes in tax law, and numerous additional taxes and fees appearing on tax bills, it is important now more than ever to make sure you are minimizing every expense to maximize profitability.  Innovative Property Tax Solutions are the experts you need to make sure you are only paying your fair share of property taxes.  We have the honesty, professionalism, experience and knowledge you need on your side.  

Call us today to see how we can help! 219-472-8682

Property tax bills are due soon in Indiana

May 10th is the statutory deadline to pay Spring installments of your annual Indiana property tax bills.  Most counties have begun mailing their tax notices this week in order to have them in taxpayers hands in a timely fashion.  Depending on where your property is located, you will be receiving one soon.

If there is any question to whether you may be overpaying your property taxes, now is the time to give us a call.  Once tax bills are released, there is a very small window of opportunity to file an appeal.  It is only 45 days from the mailing date of either the tax bills or a notice of assessment change.  If you don’t file in that time frame, you can lose out on an entire year of potentially eligible tax savings.  In addition, there could be other opportunities at reductions depending on your property type and how it is assessed.

Our team of property tax consulting experts will review your situation and help determine whether appealing your property could be beneficial for your business.  We pride ourselves on making sure our clients have the lowest property tax liability possible.  With increased tax rates, changes in tax law, and numerous additional taxes and fees appearing on many 2018 tax bills, it is important to make sure you are minimizing every expense.  Innovative Property Tax Solutions is the expert team you need in your corner.  We have the honesty, professionalism, experience and knowledge you need to ensure you are paying your fair share and nothing more.  A few minutes with one of our experts could help save you big.

Contact us today to see how Innovative Property Tax Solutions can work for you to help save you valuable tax dollars.  219-472-8682

 

Lake County is sending out the 2018 tax bills…a little something extra in Hammond & Lowell’s bills… – Bill Dolan – NWITimes.com

CROWN POINT — Residents of Hammond and Lowell will see a bump in their 2018 tax statements, which are being mailed out this week.

Lake County Treasurer Peggy Katona said more than 200,000 bills, coming due next month, are on their way.

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At Innovative, we make sure property tax bills you pay each year are correct and free from error.  With increased tax rates, changes in tax law, and numerous additional taxes and fees appearing on the 2018 tax bills, it is important now more than ever to make sure you are maximizing every expense.  Innovative Property Tax Solutions are the experts you need to make sure you are only paying your fair share of property taxes.  We have the honesty, expertise, experience and knowledge you need on your side.  

Call us today to see how we can help! 219-472-8682

Indiana official says Lake cannot extend the filing period for property tax deduction. Taxpayers can still file online until Sunday – Bill Dolan – NWI.com

A state official said Friday that Lake County Auditor John Petalas cannot extend the filing period for homestead and mortgage deductions beyond the end of this year.

Jenny Banks, director of communications for the Indiana Department of Local Government Finance, said Friday the auditor’s announcement Thursday of an extension to Jan. 5 was in error.

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IRS Advisory on Prepaying Property Taxes Shouldn’t Affect Hoosiers – Eric Berman – WIBC.com

(INDIANAPOLIS) – The IRS is warning taxpayers playing “beat the clock” with your property taxes may not work. But Hoosiers should be in the clear.

Next year, there’ll be a new $10,000 limit on the deduction for state and local taxes. Some people have been prepaying next year’s property taxes to take the full deduction while they can. The IRS now says you can’t do that unless the assessment for your 2018 bill was made in 2017.

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U.S. Property Taxes Levied On Single Family Homes In 2016 Total More Than $277 Billion – Attom Data Solutions – PR Newswire

IRVINE, Calif.April 6, 2017 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s largest fused property database, today released a 2016 property tax analysis for more than 84 million U.S. single family homes, which shows that property taxes levied on single family homes in 2016 totaled $277.7 billion, an average of $3,296 per home and an effective tax rate of 1.15 percent.

The report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county level along with estimated market values of single family homes calculated using an automated valuation model (AVM). The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.

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