Here's the latest update on the property tax situation from the Metropolitan Indianapolis Board of Realtors:
Cheryl Musgrave, commissioner of the Department of Local Government Finance (DLGF), has ordered five additional Indiana counties be considered for property tax reassessment including Montgomery County. DLGF will hold a public hearing in each county before officially ordering a reassessment. The date, time and location of each hearing has not yet been released.
The Commissioner also announced that taxpayers in Marion County who paid their property tax bills at the 2007 rates prior to the tax freeze are entitled to a refund. However, Marion County Treasurer Mike Rodman says the county is not set up to distribute refunds and it is not clear if they will attempt to issue refunds, apply the amount as a credit on the November tax bill or even hold the amount and apply it to the adjusted tax bill that will result from reassessment.
On another note, Hancock County assessments have passed review. Commissioner Musgrave said the county conducted assessments in accordance with state guidelines, therefore not requiring an order of reassessment. Those wishing to appeal their assessment should still do so within the 45 day limit.
MIBOR and IAR continue to work with state and local officials on these issues and will provide additional information as it becomes available.