From the Lafayette Journal and Courier:
Property owners in Tippecanoe County started receiving their adjusted assessed values over the weekend, and the good news is that the county’s gross assessed value increased about 3 percent.
Linda Phillips, the Tippecanoe County assessor, said the Form 11s went out on Friday. The forms update owners of their assessed value as of March 1, 2014. Phillips goal at the start of the year was to have the forms to property owners by Oct. 1.
“The earlier in the year we can mail the Form 11s, the longer we have time to make corrections,” Phillips said. “By moving them up — mailing them in August — that essentially gives us another six weeks over what we had last year … to settle appeals before tax bills have to be printed.”
If owners disagree with the assessment, they have 45 days to file an appeal in writing with the assessor’s office. The last day to file is Sept. 23. An appeal form can be downloaded from the county assessor’s website, http://www.tippecanoe.in.gov/department/?structureid=1, or by mailing a written request for an appeal. The appeal should include the property number, its address, the owners’ name and a phone number, Phillips said.
The good news, generally, is that property values increased. Since there was no reassessment, the increase reflects the influence of home sales on similar properties. Called trending, the auditor takes home sales from the previous year — in this case, 2012 — and applies those market trends to similar houses to configure whether houses are increasing or decreasing in value.
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See the full article here:
http://www.jconline.com/apps/pbcs.dll/article?AID=2013308120031
