ILNews

Board did not abuse discretion in finding assessor’s appraisal more persuasive

Back to TopCommentsE-mailPrintBookmark and Share

Noting that determining the assessed value of a property is not an exact science, the Indiana Tax Court rejected a property owner’s assertion that the county assessor’s appraisal was improperly given greater weight.  

In Millennium Real Estate Investment, LLC v Assessor, Benton County, Indiana, 49T10-1008-TA-42, the Tax Court affirmed the Indiana Board of Tax Review’s final determination in upholding the real property assessments of Millennium Real Estate Investment, LLC.   

For the 2008 tax year, the Benton County assessor assigned property owned by Millennium Real Estate Investment, LLC a total assessed value of $639,800. Millennium believed the assessments were too high and sought review first with the Benton County Property Tax Assessment Board of Appeals and then the IBTR.

At the IBTR hearing, Millennium offered its appraisal estimated the value of the property at $325,000 as of March 1, 2008, and stated that the property was sold in December 2003 for $182,000. Also, the petitioner presented an Asset Purchase Agreement showing that it purchased its property for $193,817 on June 30, 2008.

The assessor presented an appraisal which valued the property at $640,000 as of Jan. 10, 2007.

After the IBTR upheld the assessment in July 2010, Millennium appealed on two grounds. First, Millennium claims the IBTR ignored its December 2003 sales evidence and improperly discounted its June 2008 sales evidence. Second, Millennium claims the IBTR erred in assigning greater weight to the assessor’s appraisal.

On the first claim, the Tax Court found that Millennium did not show that the IBTR erred with respect to the December 2003 sales evidence claim. Also Millennium’s June 2008 sales evidence does not probatively demonstrate that its 2008 assessments were incorrect.

On the second claim, the court ruled that the IBTR did not abuse its discretion in finding the assessor’s appraisal more persuasive than Millennium’s appraisal despite their differences.

Specifically, the court rejected the argument that the assessor’s appraisal utilized an improper assessment standard in estimating the value of Millennium property. The court also found Millennium’s argument unpersuasive that the IBTR should have determined that its appraisal better reflected the value of its property.


 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in Indiana Lawyer editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Indiana State Bar Association

Indianapolis Bar Association

Evansville Bar Association

Allen County Bar Association

Indiana Lawyer on Facebook

facebook
ADVERTISEMENT
Subscribe to Indiana Lawyer
  1. The sad thing is that no fish were thrown overboard The "greenhorn" who had never fished before those 5 days was interrogated for over 4 hours by 5 officers until his statement was illicited, "I don't want to go to prison....." The truth is that these fish were measured frozen off shore and thawed on shore. The FWC (state) officer did not know fish shrink, so the only reason that these fish could be bigger was a swap. There is no difference between a 19 1/2 fish or 19 3/4 fish, short fish is short fish, the ticket was written. In addition the FWC officer testified at trial, he does not measure fish in accordance with federal law. There was a document prepared by the FWC expert that said yes, fish shrink and if these had been measured correctly they averaged over 20 inches (offshore frozen). This was a smoke and mirror prosecution.

  2. I love this, Dave! Many congrats to you! We've come a long way from studying for the bar together! :)

  3. This outbreak illustrates the absurdity of the extreme positions taken by today's liberalism, specifically individualism and the modern cult of endless personal "freedom." Ebola reminds us that at some point the person's own "freedom" to do this and that comes into contact with the needs of the common good and "freedom" must be curtailed. This is not rocket science, except, today there is nonstop propaganda elevating individual preferences over the common good, so some pundits have a hard time fathoming the obvious necessity of quarantine in some situations....or even NATIONAL BORDERS...propagandists have also amazingly used this as another chance to accuse Western nations of "racism" which is preposterous and offensive. So one the one hand the idolatry of individualism has to stop and on the other hand facts people don't like that intersect with race-- remain facts nonetheless. People who respond to facts over propaganda do better in the long run. We call it Truth. Sometimes it seems hard to find.

  4. It would be hard not to feel the Kramers' anguish. But Catholic Charities, by definition, performed due diligence and held to the statutory standard of care. No good can come from punishing them for doing their duty. Should Indiana wish to change its laws regarding adoption agreements and or putative fathers, the place for that is the legislature and can only apply to future cases. We do not apply new laws to past actions, as the Kramers seem intent on doing, to no helpful end.

  5. I am saddened to hear about the loss of Zeff Weiss. He was an outstanding member of the Indianapolis legal community. My thoughts are with his family.

ADVERTISEMENT