Indiana Tax Review Board Reinstates Prior Assessment for Taxpayer’s Monroe County Property

The Indiana Board of Tax Review (BTR) has issued a final determination ruling that the prior year’s assessment for the taxpayer’s apartment complex in Monroe County should be reinstated. The dispute centered around the 2024 assessment, which was a 92 percent increase over the prior year. The Assessor had developed three valuation approaches as required by statute, but the Board found the evidence supporting those approaches unreliable and not based on market data. The taxpayer’s income approach was also found unreliable due to a lack of market data analysis. Since neither party provided credible evidence of value, the Board determined ...