The Petitioners attempted to
challenge the credibility of this appraisal, but not very effectively. They
pointed out that only one of the four comparable sales was in Hardinsburg where
the subject property is located and the other three were in Palmyra. For that
reason, according to the Petitioners, they are not good comparables. But such
bald conclusory statements are not probative evidence. They actually do nothing
to rebut or impeach the appraisal. See Whitley Products , Inc. v. State Bd.
of Tax Comm’rs, 704 N.E.2d 1113, 1119 (Ind. Tax Ct. 1998). Similarly, the
Petitioners attempted to establish that the appraised value is too high because
the appraisal was for a bank loan. According to Mr. Miller, “you know and I
know that that‘s the reason why the government is in trouble today is because
banks ‘overloaned’ … people on mortgages.” Again, this kind of unsubstantiated conclusory
statement is not probative evidence and does nothing to rebut or impeach the
appraisal. Id.
Part of the Petitioners’ case,
however, provides some evidence that perhaps the appraisal’s valuation is too
high. Undisputed testimony established that since early 2010 the Petitioners
have tried to sell the property, but they have been unsuccessful. For a short
time in March 2010 they attempted to sell it themselves and were asking
$84,000. Then they listed it with a realtor with an asking price of $79,000.
Subsequently the asking price was reduced four times, eventually down to
$65,000. During all this time they got no offers. The lack of detail and lack
of supporting documentation diminishes the impact of this evidence, but the
point has some relevance and probative value. Nevertheless, a history of price
reductions and unsuccessful marketing is not enough to convince the Board to disregard
the value indicated by the Campbell Appraisal. In this case, that appraisal is
ultimately the more credible evidence.
…
The Petitioners did not present
substantial, probative evidence to support their claim for an assessment of
$60,000 and they failed to rebut the value proved by the Campbell Appraisal.
