Real Estate Assessment
All real estate in Randolph County, totaling over 18,000 land parcels, is assessed to determine Market Value in use. As of 1 January 2011, the reassessment of real estate is performed by the Assessor's Office in a four-year cycle with 25% of the total number of parcels being assessed each year and then on a continuing cycle of every four years.
The value is then adjusted based on the Real Estate Market of a designated neighborhood so that only the sales from that neighborhood are affecting that neighborhood and not others i.e. Farmland Sales have nothing to do with any Market Trend except Farmland and the same goes for Winchester. Township sales are handled the same, in that they only affect that Township/Tax District.
Property owners are responsible for reporting any of the following changes made to a property, regardless of obtaining a permit:
- new construction
- additions to existing dwellings and/or buildings
- removal of structures
- changes in land use (such as adding a pond, removal of forests, etc.)
- destruction based on fire, flood, or other disasters.
*ALL CHANGES will be effective on the 1st day of January following the change.
The County Assessor maintains a Property Record Card on every parcel of land in Randolph County. The information on the property record card includes:
- Buildings/improvements/structures on the parcel
- Dwelling and land information including:
- Sketches & dimensions (exterior)
- Dwelling type, year of construction
- Effective Age based on any remodels, additions, etc.
- Value calculations
- and more
Real Estate Assessment Rules
The Indiana Department of Local Government Finance (DLGF) (IN.gov) publishes the property assessment rules. Every year the State Board of Accounts in conjunction with the DLGF establishes the tax rates and levies of every political subdivision in the state. This rate is based on the taxing unit's stated budget versus the assessed value.
The County Assessor must follow Indiana law established in the Indiana Code and the property assessment rules provided by the DLGF.
Indiana has provided information about assessments on the DLGF Overview of Assessments page on IN.gov
Also available is information on:
Agricultural Land Assessments (IN.gov)
Property Assessment Appeals Process (IN.gov)