Posey County Reassessment Decision by Friday
By: Import User
Updated: August 21, 2007
Posey County, Indiana residents and political leaders got their turn Monday night to tell the state Department of Local Government Finance what they think of a pending property reassessment.
The DLGF called some of the countys industrial property values suspect, citing improved industrial property that appeared to be valued at 118% of market price, and vacant industrial property valued at 85%.
Any adjustment to those values could effect residential and commercial taxes, because it would mean an adjustment in tax rates for all groups. That has home owners worried. Many at Mondays meeting feel that property value is actually trending down in Posey County, mirroring a national trend of stalling and sinking values.
At least two residents who spoke at the open forum voiced concerns that the former GE plastics plant in Posey County recently sold for $11 billion. They feel that plant, and other industry, is actually pays less than its share of the tax burden.
DLGF officials urged local lawmakers to hold the line on spending to help keep property taxes in check. They should know by Friday if they will order a reassessment for the county.
