October 5, 2016

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.

Please contact Paul Jones if you have any questions.