STATEHOUSE (Oct. 22, 2012) – Indiana’s Commission on State Tax and Financing Policy today met to examine Marion County property assessments, announced State Sen. Scott Schneider (R-Indianapolis).
 
Schneider last week requested the five-member legislative panel to investigate higher-than-normal assessment values in the area after hearing from concerned residents in Senate District 30.
 
“I’ve received many questions and inquiries from Marion County homeowners who are concerned and scared about skyrocketing property taxes as a result of increased assessments,” Schneider said. “I appreciate the commission and Department of Local Government Finance (DLGF) for reviewing Marion County’s ratio study. While there were no glaring errors with the ratio study, the commission uncovered inequities in treating an entire township’s residential property the same. This issue needs to be addressed in order to further protect taxpayers.”
 
Schneider said additional protections could be provided if property assessments were based on individual neighborhoods as opposed to townships. He said another option would be to base calculations on census tracts.
 
“Problems seem to be occurring because of how properties are grouped,” Schneider said. “To make sure we are capturing the true value of homes, it may be necessary to drill down beyond the township level.”

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