The following Indiana Tax Court opinion was posted after IL deadline Tuesday:
Elkhart County Assessor v. E R Carpenter Company, Inc.
20T-TA-3
Tax. Reverses the final determination of the Indiana Board of Tax Review establishing the values of E.R. Carpenter Co. Inc.’s real property for the 2012, 2015, 2016 and 2017 tax years. Finds the board’s excess office space adjustments were unsupported by substantial evidence and are arbitrary and capricious. Also finds the board must deal with evidence related to Parcel 3 in a meaningful way. Remands for the board to weigh the competing evidence regarding the value of Parcel 3, adjust the assessor’s 2012 and 2016 cost approach valuations accordingly, then apply the predetermined formula to the newly adjusted 2016 cost approach valuation for purposes of the 2015 and 2017 tax years.