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Evidence shows outrage over property tax assessment is a case of ‘buyer’s remorse’

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A dispute over a property tax assessment of a mobile home park is a case of buyer’s remorse and not indicative of an error by the Indiana Board of Tax Review, the Indiana Tax Court has ruled.

In Shelbyville MHPI, LLC v. Anne Thurston, in her official capacity as Assessor, Shelby County, 49T10-1003-TA-14, the Indiana Tax Court affirmed the IBTR’s decision to uphold the Shelby County assessor’s assessment of the property.  

Shelbyville MHPI, LLC bought a 51.04 acre mobile home park in December 2004 for $4,266,400. This amount was close to an independent appraisal that valued a portion of the park at $4.2 million.

For the 2006 tax year, the Shelby County assessor assessed MHPI’s property at $4,983,300. When MHPI appealed, the Shelby County Property Tax Assessment Board of Appeals reduced the assessment to $4,263,800.

However in October 2008, MHPI appealed to the IBTR, claiming its assessment was still too high. During the hearing, MHPI presented an appraisal that estimated the market value-in-use of the park at $2.9 million as of Jan. 1, 2005. In response, the assessor presented an appraisal which valued the property at $4.2 million as of Nov. 4, 2004. The assessor pointed out that MHPI purchased the park for just over $4.2 million in December 2004 which supported the county’s assessment.

The IBTR found the assessor’s evidentiary presentation more persuasive and upheld MHPI’s assessment.

MHPI appealed to the Indiana Tax Court. It asserted, in part, that the IBTR should have completely rejected or significantly discounted the assessor’s December 2004 sales evidence because MHPI had demonstrated it never would have paid over $4.2 million for the property had it known that Indiana’s re-trending process would cause the property taxes to “sky rocket.”

In addressing that issue, the court found MHPI made an incorrect assumption when it thought its assessment and associated property tax liability would remain relatively constant. The December 2004 sales evidence reflected both the robustness and stability of the manufactured home market for the 2006 tax year but also shows what MHPI believed the property to be worth at the time of purchase.

In opinion, Senior Judge Thomas Fisher wrote, “Accordingly, while MHPI’s current complaints regarding its ‘sky rocketing’ property taxes are indicative of buyer’s remorse, they do not require the complete rejection or substantial discounting of the December 2004 sales evidence.”

 

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  1. I gave tempparry guardship to a friend of my granddaughter in 2012. I went to prison. I had custody. My daughter went to prison to. We are out. My daughter gave me custody but can get her back. She was not order to give me custody . but now we want granddaughter back from friend. She's 14 now. What rights do we have

  2. This sure is not what most who value good governance consider the Rule of Law to entail: "In a letter dated March 2, which Brizzi forwarded to IBJ, the commission dismissed the grievance “on grounds that there is not reasonable cause to believe that you are guilty of misconduct.”" Yet two month later reasonable cause does exist? (Or is the commission forging ahead, the need for reasonable belief be damned? -- A seeming violation of the Rules of Profession Ethics on the part of the commission) Could the rule of law theory cause one to believe that an explanation is in order? Could it be that Hoosier attorneys live under Imperial Law (which is also a t-word that rhymes with infamy) in which the Platonic guardians can do no wrong and never owe the plebeian class any explanation for their powerful actions. (Might makes it right?) Could this be a case of politics directing the commission, as celebrated IU Mauer Professor (the late) Patrick Baude warned was happening 20 years ago in his controversial (whisteblowing) ethics lecture on a quite similar topic: http://www.repository.law.indiana.edu/cgi/viewcontent.cgi?article=1498&context=ilj

  3. I have a case presently pending cert review before the SCOTUS that reveals just how Indiana regulates the bar. I have been denied licensure for life for holding the wrong views and questioning the grand inquisitors as to their duties as to state and federal constitutional due process. True story: https://www.scribd.com/doc/299040839/2016Petitionforcert-to-SCOTUS Shorter, Amici brief serving to frame issue as misuse of govt licensure: https://www.scribd.com/doc/312841269/Thomas-More-Society-Amicus-Brown-v-Ind-Bd-of-Law-Examiners

  4. Here's an idea...how about we MORE heavily regulate the law schools to reduce the surplus of graduates, driving starting salaries up for those new grads, so that we can all pay our insane amount of student loans off in a reasonable amount of time and then be able to afford to do pro bono & low-fee work? I've got friends in other industries, radiology for example, and their schools accept a very limited number of students so there will never be a glut of new grads and everyone's pay stays high. For example, my radiologist friend's school accepted just six new students per year.

  5. I totally agree with John Smith.

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