For Immediate Release
DLGF Announces Plan for Reassessment of Marion County Properties
INDIANAPOLIS (Aug. 1, 2007) - The Indiana Department of Local Government Finance (DLGF) issued an official order today to the Marion County Assessor to reassess residential and commercial and industrial properties. The order comes after a required public hearing to outline the need for a countywide reassessment.
Governor Mitch Daniels ordered the DLGF on July 18 to begin the process to implement a reassessment after more than 72 percent of commercial properties in Marion County showed no change in assessed value over a six-year period.
The DLGF's order requires all residential and commercial and industrial properties in Marion County to be reassessed by Feb. 1, 2008, and voids Marion County's 2007 certified tax rates that were previously approved. The new tax rates will be based on the results of the reassessment.
"In general, Marion County taxpayers will need to pay the amount of their 2006 bills for their spring and fall 2007 installments, until the reassessment is completed and bills are issued based on the new values"; DLGF Commissioner Cheryl Musgrave said.
The spring 2007 installment, at the 2006 amount, will be due Aug. 10, 2007, and the fall 2007 installment, also at the 2006 amount, will be due Nov. 13, 2007. In addition, county homeowners who were eligible for homestead deductions in the 2007 tax year, but not in 2006, will be allowed to pay the lesser of the two bills.
In following the order, the Marion County Assessor will reassess the residential property, but must hire a professional appraisal firm to conduct the reassessment of commercial and industrial properties. The DLGF will approve and oversee the commercial and industrial contract.
Media Contact: Stephanie McFarland, (317) 234-3793, email@example.com
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