In terms of assessments, we found almost a systematic inconsistency,” said Mark Brown, the institute’s research director and author of the equalization report. “There were some homeowners with assessed valuations as little as 65 to 75 percent of market value, others with 130 to 135 percent of market value.”
Tremendous inconsistencies were found between the state and counties. Within counties, assessors and auditors often used different data procedures and systems, resulting in the flawed values. Because a property owner’s tax levy is determined by the total of a taxing district’s assessed valuation, under-assessed or over-assessed properties skew the base figure and, in turn, the tax rate. Under-assessed properties result in a higher tax rate and higher tax bills.
Even more troubling, the inconsistencies occurred within and across townships, even those townships in the same county!
Sounds like some more suing needs to be taking place and some appealing of the property assessment of some property. Hint: especially in the downtown area. Hat tip to Indiana Law blog for the links to the study.
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