Kokomo Tribune; Kokomo, Indiana

July 19, 2013

County's assessed value rates stabilize

Only Center Township had a decrease for 2013

By Ken de la Bastide Kokomo Tribune
Kokomo Tribune

---- — After years of decline, the gross assessed value for Howard County for property taxes due in 2014 has stabilized, according to county officials.

This past week, the Howard County and Center Township assessor’s office mailed forms to local property owners showing the gross assessed value on their real property.

That information is now being provided to the Howard County Auditor’s office for application of any exemptions and the setting of the net assessed value for the 2013 tax rate payable in 2014.

The gross assessed value for all Howard County showed a slight decrease of $11 million to $4.5 billion.

For governmental units that means the projected revenues from property taxes should be similar to what was received in 2013.

The only township to show a decrease in gross assessed value was Center Township, which dropped 2 percent. The gross assessed value for Monroe Township increased the most by 5 percent.

“The 2013 assessed value is based on the 2012 sales data,” Sheila Pullen, Center Township assessor, said. “There is a decrease of about 2 percent. The market was just getting to go back-up before people started applying for building permits. This should be the last of the decreases for residential property.”

Pullen said another factor was that more exempt property was purchased by hospitals, churches and governmental units.

Jamie Shepherd, Howard County assessor, said the Indiana General Assembly gave golf courses a tax break which started this year. She said the fees from golf cart rentals can no longer be included in their income.

“Countywide, the gross assessed value has stabilized,” Shepherd said. “The figures are based on neighborhoods and trending of sales data. In 2012 there were still a lot of houses going through foreclosure.”

Shepherd said the gross assessed value of agricultural land climbed by approximately 6 percent. She said the state establishes the rate on a six-year average and it increased from $1,630 to $1,760 per acre.

Residents may notice an increase in their assessed value because of the sale price of homes in the neighborhood and a possible site inspection, Shepherd said.

“Right now we’re in the process of restructuring our neighborhoods,” she said. “We want to insure the comparable sales are more reliable.”

Parameters being used will not just be the geographic location of a property, but the age and size of a house.

“Some will go up, some will go down,” Shepherd said.

More info The gross assessed value for the townships in Howard County for 2013 taxes due in 2014. Chart shows township, 2013 and 2014 gross assessed value and percentage of change. Information provided by the Howard County Assessor's office. Township 2013 G.A.V. 2014 G.A.V. % change Center Township $2,254,200,100 $2,206,023,000 2 percent decline Clay Township $254,367,600 $254,277,800 no change Ervin Township $163,922,100 $166,455,900 2 percent increase Harrison Township $583,367,500 $595,887,100 2 percent increase Honey Creek Township $110,483,300 $114,308,200 3 percent increase Howard Township $230,720,900 $237,077,600 3 percent increase Jackson Township $52,180,700 $54,367,700 4 percent increase Liberty Township $262,960,900 $264,777,100 1 percent increase Monroe Township $93,461,800 $97,999,300 5 percent increase Taylor Township $444,024,400 $447,160,800 1 percent increase Union Township $78,034,900 $77,685,200 no change