Tax appeals involve $200 million worth of real estate | Local News
The Porter County Administration Building in downtown Valparaiso is shown.
Doug Ross, Files, The Times
VALPARAISO – Porter County’s assessor Jon Snyder is hiring an expert to handle some key commercial real estate tax appeals. The total estimated value of the properties approaches $ 200 million.
If the county loses appeals, local governments will have to reimburse the money paid by the landowners, Snyder said. That would affect other taxpayers in the county.
The Nexus Group receives $ 225 per hour for legal and appraisal services. “We assume it will be less than $ 50,000,” said Snyder.
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The local council approved the contract last week.
Properties affected include Walmart, Tractor Supply, Target, JC Penney, Meijer, Kohl’s, Home Depot, Menards and Thornapple Plaza; Menards and Kohls in Portage; and the Save-A-Lot and Dollar General building in Kouts.
Some of the appointments are for a single year and others are for multiple years, Snyder said.
“They’re looking for a different square meter price than what we’re happy with,” he said. “We’ll have a harder settling this year.”
Retailer sales were impacted by COVID-19 last year. In certain approaches to determining the value of a retail property, income has a direct correlation.
Porter County goes by the rules, however. “We’re using the Indiana cost model as required by state law,” he said.