Indy Reassessment Battle Heats Back Up

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(INDIANAPOLIS) - There could be another lawsuit over Indy’s latest stab at reassessment.

Taxpayers sued last summer after assessment showed essentially no change in business property values. The state agreed and ordered a new assessment before a judge could rule. The second try pushed business assessments up nearly a third, but home values slipped just a fraction of a percent.

Attorney John R. Price, who filed the suit, calls the numbers "ominous," but says there's no way to say whether the resulting bills are unfair until tax "rates" are released.

Price says it's somewhat surprising to see home values unchanged in the midst of a mortgage meltdown that by one estimate has sent housing values down 10% nationwide. But he notes state tax officials warned when they ordered the reassessment that the changes might not be dramatic.

Price says another possible ground for litigation is Marion County's tentative plan to send out the revised bill for last year's taxes in July, with the first of this year's bills being delayed until December. Price says homeowners would rather know how much they owe before the November election.

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