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Future

American Courtroom

Tippecanoe's two attempts at negating the damage from the new multifamily legislation were both ignored/rejected by the DLGF, and the potential to use either strategy in succeeding years was effectively quashed by the Indiana legislators when they passed amendments to IC 6-1.1-4-39, retroactive to the 1/1/24 assessment date.

The Tippecanoe County Assessor's Office hosted a meeting on January 31 for municipal stakeholders whose budgets may be affected by a substantial decrease in revenue. 

Understanding the Impact of New Legislation on Assessments

Potential strategies to combat the effects of the 2023/2024 5+ unit multifamily legislation:

  • Organized pressure from county, city, and school officials from around the state to encourage the DLGF to distribute a cost table and depreciation schedule that more closely reflects market value.

  • Media outreach to property owners explaining why this new legislation is resulting in inequitable assessments, and encouraging taxpayers to file constitutional appeals or their properties in order to force this new legislation to IBTR as quickly as possible.

  • Collaboration between counties regarding sales and rent data, leading to more data points to use in developing the Sales and Income approaches to value. This would greatly benefit smaller counties that have a lot smaller pool of data to use than more urban counties.

We welcome inquiries and suggestions from everyone regarding this topic, from attorneys specializing in real estate and/or taxation, fellow assessors, municipal stakeholders, to members of the public who would like to know how this legislation affects them. Please reach out to us using the contact email below, or directly to Tippecanoe's Assessor's Office.

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