How is the value of my property determined?

How is the value of my property determined?

From the DLGF (Department of Local Government Finance):

Thankfully in Indiana assessment of property isn’t as confusing as it once was. Now, the amount of value that determines your property tax bill, also known as the assessment, should reflect the market value of your property. This market value is based on your current use, not on highest or best use.

Just like other states, in Indiana properties are valued using mass appraisal techniques. With mass appraisal, your property is looked at in conjunction with other properties in your area. Assessors consider age, grade and condition. Finally, in a process known as annual adjustment, or “trending”, each year real property sales data is used to determine if the value of properties in your area should change to match the market value found in the sales of recent properties.

You can find more information at the link below:

DLGF: Assessment

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1 Comment on "How is the value of my property determined?"

  • Kelly Khuri says

    Martina is an advocate for the taxpayer. Her dedication to us is second to none.
    As our county assessor, she will ensure that all assessments are accurate.
    I am certain that the our assessor’s office, will reflect her public servant’s heart and provide excellent service to us.
    In addition, as her articles here on her website show, her passion is research. In rendering that knowledge to the citizens, we become a more informed citizenry.
    I am grateful she decided to run. I support her and encourage all to consider Martina Webster for Clark County Assessor. For our children for their Future!
    -Kelly Khuri

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