Reassessment
RESIDENTIAL
Reassessment is the re-evaluation of all properties in a given area for the purpose of establishing a new tax base. Tax bills are the product of the assessed valuation of the property and the cost of municipal, county, and school district services. Taxes continue to support the municipality in which you live, your school district, and the county. Reassessment does not change this. Legislature creates laws that determine how properties are taxed. These laws are then interpreted by the Department of Local Government and Finance (DLGF), who are responsible for drafting and writing new appraisal manuals, rules and regulations, bulletins, directives, and forms for the assessment of real property. In addition, the courts, particularly the Tax Court and Supreme Court, issue rulings that may clarify or change the scope and direction of Reassessment activities.
Periodic reassessments are required by law and are to ensure that each property is valued fairly. The purpose of property reassessment is to realign the values of real property that are determined with values of other kinds of property that are assessed annually, such as personal property and mobile homes.
A reassessment will result in a new value being established for your property. This new value will replace the previous year’s trended value currently on your property and will be the basis used for taxing property.
IC 6-1.1-4-15Appraisal; examination of buildings
Sec. 15. (a) If real property is subject to assessment or reassessment under this chapter, the assessor of the township in which the property is located, or the county assessor if there is no township assessor for the township, shall either appraise the property or have it appraised.
(b) In order to determine the assessed value of buildings and other improvements, the township or county assessor or the assessor's authorized representative may, after first making known the assessor's or representative's intention to the owner or occupant, enter and fully examine all buildings and structures which are located within the township or county and which are subject to assessment.
[Pre-1975 Property Tax Recodification Citations: 6-1-26-1(c) part; 6-1-26-14.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.24-1986, SEC.7; P.L.146-2008, SEC.69.
Putnam County, in order to be more efficient, has contracted with the NEXUS Group to do all data collection in the field. Anytime in the future, an experienced data collector may visit your property to gather information. All of the reassessment data collectors are at least Level II Assessor /Appraiser certified. They carry proper identification and will arrive at your property in a marked vehicle. It is our goal to conduct an exterior inspection of each home and business looking for changes to the property. i.e. home additions or sheds or items removed or that have experienced damage. While assessing your property the data collectors are not trespassing but are legally conducting the job dictated by the DLGF. This ensures an accurate assessment is placed on your home and property. We understand that in many cases, the property owner may not be home. In cases such as these, the reassessment data collectors will look for changes, measure all buildings while respecting your property and privacy then leave your property when they have completed the collection process. If any questions arise that can’t be answered while they are at your property, a door hanger questionnaire will be left for you to fill out and return to the assessor’s office.
There are instances where our data collectors cannot access your property, maybe due to a locked gate, not so friendly pet, or farm animals. The office will send a locked gate letter so you can respond with a time and day the data collector can meet you to properly assess your property. Please respond to the letter promptly. If we do not receive a response from you, we may have to use Pictometry to estimate what is on your property. Be reminded that these pictures are taken from a plane travelling 100 miles per hour at approximately 3000 ft in the air. Many things cannot be accurately measured due to trees or other buildings blocking the view etc. A best estimate can only be made and may not properly or fairly represent what is truly on your property.
Logistically, due to the number of parcels that need to be reassessed each year (approximately 6500) we cannot call each taxpayer and schedule our visits. We do let the local police department know what areas or neighborhoods we are reassessing.
If you feel that your property assessment is incorrect, please talk to the County Assessor. Present the Assessor with information about the property, including a recent appraisal if you have one. Please do not ignore notices, letters, and visits to your property by the Assessor’s Office. Notice of Assessment (Form-11) are sent out every year and the taxpayer has only forty-five (45) days to contact the Assessor’s Office with any disagreement of their assessment. After the forty-five (45) day period, no changes will be made to any property’s assessment.
New Construction and Sales Disclosures
When a property is purchased and/or a Sales Disclosure has been received into the Assessor’s office, a questionnaire will be sent to the new owner which when returned will help to update any incorrect information. If needed, the property may be visited by a data collector from our office.
When any new construction, remodeling, or demolition is complete, a data collector will come to the parcel to review all of the needed information. In this instance, a data collector may be at your property more than one time a year, if doing re-evaluation of the area, and also a new construction valuation.
BUSINESS, COMMERCIAL, INDUSTRIAL, AND PUBLIC PROPERTIES
Reassessment works much the same way as for residential properties. Trained commercial and industrial data collectors gather information, such as physical characteristics, replacement costs, land values, and circumstances regarding any recent property purchases. Income and expense information may be requested because it is related to what investors are willing to pay for the property.
For more information about Reassessment, please click here to be redirected to the DLGF website.