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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe following opinion was published after IL’s deadline Friday:
Indiana Tax Court
Majestic Properties, LLC v. Tippecanoe County Assessor
22T-TA-13
Tax. Reverses the Indiana Board of Tax Review’s decision that two uses of a single-family residence – as a residential rental property and as an owner-occupied home – are equivalent for purposes of assessment after relying on appraisals offered by the Tippecanoe County Assessor that valued a Majestic Properties, LLC home for its use as an owner-occupied residence to uphold the assessment. Finds the board’s additional concern that a more narrow conception of use risks valuing the property to the specific user (e.g., Majestic) is mitigated by the appropriate identification of the class of similar users to which the owner belongs under the regulatory standard. Also finds the failure to apply the regulatory standard may have led the board to conceive the current use of the subject property too broadly. Remands the case to the board for further proceedings consistent with this opinion.
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