Great News, the End to High Property Taxes Is Almost Here

Originally posted 2009-02-13 06:00:44. Republished by Blog Post Promoter

On February 10, 2009, the Indiana Senate passed an amendment for the permanent cap to property tax bills. The bill passed the Indiana Senate with an overwhelming majority of 34 to 16 vote.  The bill goes to the House for consideration, but House Speaker, Patrick Bauer, suggested that the House representatives wait until next year’s session to vote on the amendment.

With the property taxes being an important issue to the residents and the forefront of the Indiana residents’ mind it may not be wise for the House to postpone their voting on the amendment. 

This amendment will cap the property taxes for homeowners, investors, and business owners, alike.  The homeowners would be able to benefit from only paying one percent of the assessed value of the home.  Whereas, the investors would pay only two percent of the assessed value of the property.  Still yet, the business owner will pay only three percent of the property’s assessed value.

If the amendment is passed by the House, Indiana’s resident can look forward to voting on the amend law in 2010.

Hopefully, the amendment will be approved in the House, as well.  If lower property taxes is important to you contact your congressmen and tell them so.  Your voice does have power.

Property Tax Appeal Review (Video 1 of Section 1)

Originally posted 2009-01-01 18:46:58. Republished by Blog Post Promoter

The objective of the series of videos that follows in the next couple of days is an evaluation of the the findings of property tax appellate court. This evaluation is not a guarantee that you will be successful with your appeal for an assessment in your property taxes, but it does arm you with the tools needed to possibly becoming successful in your quest to get your property taxes adjusted in your favor.

For your convenience, below you will find the links to the property tax reviews that we will be evaluating:

• Appeal Review 1

http://www.ingov/ibtr/files/JackRipley.pdf

• Appeal Review 2

http://www.in.gov/ibtr/files/DavidandPatriciaSullivan.pdf

The Appeal Process has time ranges and time limits which also will be part of the video series of discuss.  Please find the link to that information below:

http://www.in.gov/ibtr/files/AppealsProcess

The law that give jurisdiction power to the Appeal Board is below:

Public Law 198-2001

http://www.in.gov/legislative/iac/xml/old-ir/Vol24/10Jul/07NO050010226.pdf

Indiana Code 6-1.1-4-33

http://www.in.gov/legislative/ic/code/title6/ar1.1/ch4.html

Form 130 (Petition for Review of Assessment By Local Assessing Official – Property Tax Assessment Board of Appeals)

This form is used to petition for property tax appeal.

http://www.in.gov/icpr/webfile/formsdiv/21513.pdf

Form 139 L (Petition for Review of Department of Local Government Finance Action)

This form is used to get money back for excessive property taxes.

http://www.in.gov/icpr/webfile/formsdiv/51104.pdf

Real Estate Investor Related Articles

Protecting Your Investments – This article discusses the business entities that are available that are available for investors to protect their personal assets when buying and holding properties.

Property Tax Related Articles

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.

Related articles  on property taxes

• O.C. property tax fights up 23% (lansner.freedomblogging.com)
• Property tax fights up 8% this year (lansner.freedomblogging.com)

Lack of Property Taxes Tops News in Northwest Indiana

Originally posted 2008-12-27 09:35:31. Republished by Blog Post Promoter

The Times has an article named, Lake Commissioners Pledge Veto for Food, Beverage Tax.   According to this article the Lake County Commissioners plan to veto the increase in tax on food and beverage.  Alot of the commissioners state that they do not want to go back on their word of “no new taxes”.  The idea of a commissioner trying to be true to campaign pledges is refreshing in an of itself.    One of the commissioner believes that the local government still has not done enough to cut the fat.  I, too, believe that not enough fat has been cut in government. 

One area that needs fat cutting is township assessors. There are over a 1000 township assessors and that is more than California, Texas, Ohio, and Florida.  Now, if you have not noticed Indiana is in some cases half the size of the states mention.  The reduction in township assessors not only save money, but it also is proposed to create fair property tax assessment.

The cutting of assessors is only one area that needs trimming.  Other areas that may need review is the amount of items that is on the property taxes.  The amount of taxes paid need to re-appropriated and it will take all of us to determine the best mode of action to get that done fairly.

Outraged Over Property Taxes

Originally posted 2009-03-23 09:20:57. Republished by Blog Post Promoter

Why isn’t the Indiana property tax assessment making front page news?  I am sure it is making front page news with all the citizens of Porter County who on March 27 is going to have to pay higher property taxes.

I am appalled that the local paper has given little attention to the plight of Porter County’s property tax over-assessment.

Is it that the County Assessor John Scott does not see a problem with the higher taxes?

The assessor simply said, “let the appeal process determine if the taxes are too high.”

Why is it that the Local Government Finance Office care more about the citizens outrage over property taxes than the assessor?

Even local real estate brokers have had increase calls from outraged citizens about recent market values.  

Business owners believe that property taxes have went up 100 percent. 

Do not let yourself be taxed out of your home or business without a fight.  The assessor is not going to fight for you.  You can file an appeal.  You have until April 13 to file that appeal.  Visit www.in.gov/dlgf to get the forms needed to file that appeal.

I have include some helpful video to help with the process, as well.  See the links below:

Good Indication That You Need to File a Property Tax Appeal

Property Tax Appeal Review Video 1 of Section 1

Evaluation of Property Tax Appeal Findings

Indiana Property Tax Appeal (Part 2)

Indiana Property Tax Appeal

What is Assessed Value and How Does it Influenced My Property Taxes

Lack of Property Taxes Tops News in Northwest Indiana

Seniors Deadline Quickly Approaching

Reducing Cost is It a Sin

Recently, I did several post on appealing your property taxes assessment.  Well, today I found an informative podcast at http://www.pepperpodcasts.com/pepper_podcasts/2008/11/pursuing-realestate-tax-assessment-appeals-in-a-down-economy.html that recommend pursuing property tax re-assessment for businesses in this market.  This is along the lines of what I was recommending for your residential properties.  However, I did not mention business properties and the advantages to pursuing a re-assessment of those property taxes.   Sharon and Dusty give great pointers for business owner to help them determine if a re-assessment is necessary for them.    They go on to explain what is a good sign that the owner should consider a property tax re-assessment.

Sharon and Dusty further explain how businesses, industries, and apartment owners need to consider their vacancies and the environment to determine if they need to do a re-assessment.

Lastly, Sharon and Dusty explain how to go about doing the re-assessment.