Petition To The Indiana Board of Tax Review For Review of Assessment is a legal document that an individual or business submits to the Indiana Board of Tax Review in order to challenge an assessment or valuation of their property by a local taxing authority. It is used to dispute the amount of taxes owed or the value of the property that is being taxed. The petition must include relevant information about the taxpayer, such as name, address, and tax ID; information about the property being assessed, such as a legal description and the assessed value; and a detailed explanation of why the assessment or valuation is incorrect. There are two types of Petition To The Indiana Board of Tax Review For Review of Assessment: an Individual Petition and a Business Petition. An Individual Petition is used by an individual to challenge an assessment or valuation of their personal property. A Business Petition is used by a business entity to challenge an assessment or valuation of their commercial property.
Petition To The Indiana Board of Tax Review For Review of Assessment
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How to fill out Petition To The Indiana Board Of Tax Review For Review Of Assessment?
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FAQ
Real estate taxes are calculated for each property, based on the Fair Market Value at a given point in time (base-year). This base-year value is used for assessments each year until a new base-year is established by a countywide reassessment. Ideally, a county should reassess all properties every three or four years.
The Indiana Board of Tax Review ("IBTR") is the state agency charged with deciding property tax assessment appeals. The IBTR addresses appeals contesting real and personal property assessments. It also addresses appeals concerning property tax exemptions, deductions, and credits.
An appeal begins with filing a Form 130 ? Taxpayer's Notice to Initiate an Appeal with the local assessing official. The appeal should detail the pertinent facts of why the assessed value is being disputed. A taxpayer may only request a review of the current year's assessed valuation.
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You will receive notice of your property's value in one of two ways: the county assessor may send you a notice of assessment, known as a Form 11. Otherwise, the assessed value of your property can be found on your tax bill. This document is known as the TS-1 tax comparison statement.
A: If you receive a Form 11, you should initiate an appeal not later than 45 days after the date of the notice.
An appeal begins with filing a Form 130 ? Taxpayer's Notice to Initiate an Appeal with the local assessing official. The appeal should detail the pertinent facts of why the assessed value is being disputed. A taxpayer may only request a review of the current year's assessed valuation.