Lake County Assessor LaTonya Spearman urges property owners to file appeals for their tax assessments before the June 17 deadline, despite the low number of appeals filed.
Lake County Assessor LaTonya Spearman said less than 1% of property owners have appealed their tax assessments this year, but they are welcome to file an appeal before the June 17 deadline. Property values in Northwest Indiana have been on the upswing in recent years, yet very few people are making use of the property tax appeals process.
The increase from assessment year 2022 payable in 2023 was 12.16%, with total values climbing from about $40.122 billion to $45.001 billion. In assessment year 2021 payable in 2022, values increased by 5.80% from about $37.841 billion to $40.035 billion. “The market data suggests property values across the State have increased significantly over the past two to three years. Our most recent assessments account for that appreciation,” Spearman said.
The process allows both parties, the assessing official and the taxpayer, an opportunity to present evidence of the property’s market value-in-use. The evidence may include but is not limited to appraisals, a sale of the subject property, sales of comparable properties relevant to the year under appeal, income information and construction costs for newer properties.
If a clerical mistake, such as entering three bathrooms instead of two, has occurred, it can be rectified without an appeal.
Lake County Assessor Property Owners Tax Assessments Appeals Deadline
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