Indiana’s 2%/3% statute was clarified a few years ago to ensure that all apartment property is subject to the 2% cap. However, for prior years it was applied in some counties such that land and other areas were treated as 3% property. In Hamilton Square Investments v. Hamilton County Assessor, the Indiana Tax Court reached a favorable decision for the confirming confirming that the 2% cap applies to all apartment property, even for those prior years before statute was clarified. A copy of the final decision and Order can be found here file:///C:/Users/PaulJones/Downloads/Opinion%20Issued-%20Reversed%20and%20Remanded.pdf.
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