VALPARAISO — Porter County Assessor Jon Snyder is hiring an skilled assist to take care of some main industrial property tax appeals. The overall assessed worth of the properties approaches $200 million.
If the county loses the appeals, native governments should refund cash paid by the property house owners, Snyder mentioned. That might affect different taxpayers within the county.
Nexus Group will probably be paid $225 per hour for authorized and appraiser companies. “We’re anticipating it to be underneath $50,000,” Snyder mentioned.
The Board of Commissioners authorized the contract final week.
Among the many properties concerned are the Walmart, Tractor Provide, Goal, JC Penney, Meijer, Kohl’s, Dwelling Depot, Menards and Thornapple Plaza; Menards and Kohl’s in Portage; and the Save-A-Lot and Greenback Basic constructing in Kouts.
A few of the appeals are for a single 12 months and a few for a number of years, Snyder mentioned.
“They’re in search of a worth per sq. foot completely different than what we’re keen to settle at,” he mentioned. “This 12 months we’re having a more durable time settling.”
Retailers’ gross sales final 12 months have been affected by COVID-19. Underneath sure approaches to figuring out a retail property’s worth, earnings has a direct correlation.
Porter County, nevertheless, goes by the e book. “We use the Indiana value mannequin as required by state statute,” he mentioned.