From the Kokomo Tribune:
For the third time in two years Howard County has prevailed with the Indiana Board of Tax Review after local businesses claimed they should be considered exempt from paying property taxes.
The board ruled Jan. 14 against the appeal filed by Bradford Run Apartments that they should be tax exempt because they provide housing for low-income families.
Bradford Run sought a 100 percent tax exempt status for 2010 taxes payable in 2011 and 2011 taxes payable in 2012. If successful the apartment complex would not have paid property taxes in the future.
The exemption request was denied by Jamie Shepherd, Howard County Assessor, and the Howard County Property Tax Assessment Board of Appeals. Those denials were appealed to the Indiana Board of Tax Review, and a hearing was conducted last October.
Bradford Run contended it was eligible for a 100 percent tax exemption because it was owned, occupied and used for charitable purposes. The complex is owned by the Indianapolis based Buckingham Foundation, a non-profit organization.
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As a result of the ruling, Bradford Run, which has an assessed value of $8.7 million in real and personal property, will pay annual taxes of approximately $187,000.
Shepherd said if Bradford Run had been granted tax exempt status, the county would have had to refund $387,000 to the Buckingham Foundation.
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See the full article here:
http://kokomotribune.com/local/x503828018/County-wins-tax-dispute
