Wednesday, September 5, 2012

Excerpt of the Transcript of Muncie's "Town Hall Live" on Property Taxes

From the Muncie Star-Press:

9:59
Comment From Anna Lenz Sammelson 
Every year my neighbors get their Form 11 and every year their property assessment is at least 4% over the market value of their home. They are forced to file an appeal annually, and go through the lengthly appeals process, in order to correct this mistake. Why does the property tax assessment office not permanently change the property value after the first appeal is approved? I understand that other areas do this.
9:59
James Carmichael: 
Anna, this is an on-going question. The answer is that the law states that each assessment year stands alone. This forces a property owner to petition every assessment year when new form 11's are sent.
10:01
Keith Roysdon: 
James, where in the assessment process is the county this year? It's not an every-four-years process anymore, is it?
10:01
James Carmichael: 
We are in the process of setting up mailing of the new assessments in the next 3-4 weeks.
10:02
Keith Roysdon: 
When property owners get that mailing, should they do anything in particular?
10:04
James Carmichael: 
The form is time sensitive. A Homeowner has 45 day from the date of the notice to file an appeal. other than that. Other questions can be answered by phone or in person.
10:13
Comment From Eugene Wagner 
Why not use professional real estate appraisers to assess properties for tax purposes?
10:15
James Carmichael: 
Professional fee appraisers do individual home valuation. Property assessments are done in mass. The state believes that value runs in neighborhoods.
10:16
James Carmichael: 
These are two different methods of appraisal.
10:22
Keith Roysdon: 
James, what can you add about the type of property sales that assessments are based on?
10:23
James Carmichael: 
Only arms length transactions are used. Meaning that the sales used in the annual process do not have any discounted value.


See the full discussion here:

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