|
Quick Property Tax Links |
|
|
|
Do You Want to Appeal Your Assessment?
|
In an effort to help all Kokomo citizens keep their tax burden low, the City of Kokomo has released information on ways to reduce their property taxes by learning how to appeal county increases in assessed property values and making sure they're getting all the available property tax deductions.
According to the Indiana Department of Local Governmental Finance, Indiana law provides a clear method for taxpayers to contest the assessed value of their property. The taxpayer may submit a written notification to the township assessing official requesting an informal conference to discuss the current year's assessment. The township assessor then makes a recommendation either denying or approving the appeal. If denied, the appeal will go to the Property Tax Assessment Board of Appeals for review. The other appeal process would require the taxpayer to submit a Petition for Correction of Error (Form 133) to the County Auditor. This form allows the taxpayer to appeal objective issues.
Claims may be made for up to three years of assessments with the submission of the Form 133, but those requesting refunds must also file a Claim for Refund form (Form 17T). In order to appeal a current assessment and have a change in the assessment effective for the most recent assessment date, the taxpayer must request a conference with the local assessing official not later than forty-five days after notice of a change in the assessment is given to the taxpayer or before May 10, whichever is later. This new trending of assessments is causing continual increases in assessed value that the property owner, mayor and city have no control over, but that will negatively impact property taxes for Kokomo's property owners. A detailed process of how to appeal the assessed value of a property can be found online at www.in.gov/dlgf/local/prop_tax_appeals.html.
Receiving all of one's property tax reductions can be very beneficial to the taxpayer. There are many deduction types that most taxpayers don't even know about. These deduction categories break down to include things such as mortgage, homestead, standard deduction, citizens over the age of 65, the blind, the disabled, veterans with total disability, veterans with partial disability, veterans of World War I, and spouses of World War I veterans. To view the quick reference chart of property tax deductions, go to www.in.gov/dlgf/pdfs/Quickchart_2005-2006.pdf.
Home
