Kohl’s Property Value Needs Another Look, Indiana Tax Court Says

An administrative board improperly slashed the assessment of an Indiana Kohl’s store by almost half because it used the wrong methodology, the state tax court ruled Friday.

The state tax review board found that appraisals submitted by Kohl’s and the Madison County Assessor were both extensively and fundamentally flawed but adopted the company’s figures because its appraiser followed generally accepted principles, the Indiana Tax Court ruled.

“Appraisals, like books, cannot be judged by their covers,” Judge Justin L. McAdam wrote. “For an appraisal to make a prima facie case, its analysis and conclusions of value must stand on their ...