From the Northwest Indiana Times:
Porter County's general reassessment figures are in and it looks as though there may be bad news on the horizon.
Assessments appear to be down in Portage, Valparaiso and in nearly half of the designated areas of the county, which could translate into higher tax rates and less available revenue, Porter County Assessor Jon Snyder said.
The final impact will depend will on a number of conditions, including the final assessment figures now being certified by the county auditor's office, the response from the various taxing units and the number of properties hitting the new state tax caps.
Porter County Auditor Bob Wichlinski said the lower assessments, coupled with assessment appeal refunds and the tax caps, amounts to trouble on the horizon.
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"This is the reality of 1, 2, 3," he said, referring to the amendment making it unconstitutional for property taxpayers in the state to pay rates higher than 1 percent of assessed value on owner-occupied homes, 2 percent on rental and farm properties and 3 percent on business and industrial properties.
"We're going to have to tighten our belts," Wichlinski said.
Taxpayers will be notified by mail next month of their individual reassessments, Snyder said, and then have 45 days to file an appeal.
Unofficial general reassessment figures, which are calculated every five years, show a 5.2 percent overall decrease in assessed values in Portage and a 4.4 percent drop in Valparaiso. Ogden Dunes had the single largest decrease of 16.5 percent, followed at 15.5 percent by Chesterton's Jackson Township area and 10.6 percent in Westchester Township.
Beverly Shores posted the county's largest gain at 7.4 percent, followed by 7 percent in Liberty Township, which is home to the newly constructed Porter hospital.
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http://www.nwitimes.com/news/local/porter/duneland/assessments-down-in-porter-county/article_eee90a92-cf44-5e9e-ad67-edf0f735f3e9.html
