Indiana Property Tax Appeal

Originally posted 2008-12-28 04:11:27. Republished by Blog Post Promoter

On or before May 10 of the year that you feel that you received an unfair tax assessment, you will need to file a written appeal. 

Once the assessor gets notice that a property owner would like to have their property tax re-assessment, the assessor must forward the appeal documentation to the county board of appeals.

The board shall hold a hearing or review of the petition for re-assessment no later than 180 days after the board receives the notice.  The board will mail the notice to the property ownership of the date, time, and location of the hearing on the property owner’s petition.

There will be a series of videos discussing the forms required to file the appeal, and how to fill the form out.  As an added bonus, we will discuss an appeal that was reviewed by the board.  This reviewed appeal will give you insight in to what to do or not to do to get your property re-assessed in your favor. 

To get the forms needed for filing your property tax appeal visit
for Form 130 also called Form 11 CI www.in.gov/icpr/webfile/formsdiv/21513.pdf

For Form 11 RA visit http://www.in.gov/ibtr/files/DavidandPatriciaSullivan.pdf

For Form 113 visit http://www.in.gov/icpr/webfile/formsdiv/46725.pdf

Video 1 (Indiana Property Tax Appeal)

 

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Indiana Property Tax Appeal (Part 2) -Filing a property tax appeal can be difficult.  This article gives links to the forms needed to file the appeal and a video tutorial on filling the forms out.

Is a Short Sale The Answer?

There is a Formula to Whether Your Short Sale will be Approved

I have fifteen short sales that I am working on of those fifteen all of the lenders are stating that they need to net a certain amount.  I was beginning to think this was an isolated case until I came across the article at http://latimesblog.latimes.com. 

I discovered from this article that if the seller has a FHA loan, the lender “requires a net of 82% of current market value.  I was relieve to find out it is a formula that the lenders use.

The article went on to state that VA loans are required to net 88% of the current value.  Still yet, the conventional loans are required to net between 78% to 85% of the current value. 

As a homeowner who needs to sell it may be helpful to understand this formula.  Remember, a short sale can save your from a foreclosure as long as the lender can yield enough money from the sale.

Is Your State Doing Its Share to Help in This Housing Crisis?

For the state of Indiana, I would have to say that is a resounding, NO.

 

For the state of Illinois, I found the answer to be YES.

 

I found it interesting that the housing crisis is affecting all fifty states, but until recently only fourteen states have made legislative and program changes to help homeowners in their respectively states.  

 

The states that have passed legislation to regulate the cost of acquiring a loan are:

• Washington
• Connecticut
• Kentucky
• Maine
• Maryland
• Minnesota
• New York
• Pennsylvania

 

The latter states led the way for forty states to implementing a homeowner counseling campaigns.  This aspect has until recently only been done by a few concerned Realtors and mortgage brokers.

 

To curb foreclosures twenty one states are now intervening in the foreclosure process. With the state leading the way by not putting current paying tenants out on the street is Illinois.  Illinois were followed in their efforts of intervention is:

·         California

·         Michigan

·         New Jersey

 

Still other states have increase days before a default notice must be issued.  Those states are:

• California
• Colorado
• Connecticut
• Maryland
• Massachusetts
• New York
• North Carolina
• Pennsylvania
• Virginia

 

Some other states started their effort in helping homeowners is by creating foreclosure task forces.  The state that led the way is:

• Delaware
• Florida
• Texas

Now, there are seventeen states providing a foreclosure task force.

 

It is very important that the states have stepped up to help with the burden of foreclosure that is plaguing so many homeowners.  Let’s keep thinking outside the box and we will all may it through this challenge in the market and economy.