Commercial & Industrial Properties
Phone: (260) 449-7501
Fax: (260) 449-3115
The State of Indiana requires real property to be assessed at its market value-in-use as of a specific assessment date. Market value-in-use is defined by the state as, "The market value-in-use of a property for its current use, as reflected by the utility received by the owner or by a similar user, from the property." There are three approaches used to determine market value-in-use:
Cost Approach: (Replacement Cost New - Depreciation) + Land Value = Cost Value
Sales Comparison Approach: Estimates total value of property by directly comparing it to similar
properties that have sold in the market.
Income Approach: Income / Cap Rate = Income Value
Per IC 6-1.1-4-39, ".........If a taxpayer wishes to have the income capitalization method or the gross rent multiplier method used in the initial formulation of the assessment of the taxpayer's property, the taxpayer must submit the necessary information to the assessor not later than the January 1 assessment date....."
Questions? Click here for FAQ
Have you purchased or sold a commercial property recently? Please fill out this Sales Questionnaire.
Commercial & Industrial Surveys
Own or represent an income-producing property? Please fill out this General Survey. We also request the last three year's of income and expense information.