Indiana Tax Board Lowers Property Assessments in Valuation Dispute

The Indiana Board of Tax Review ruled in favor of the taxpayer's lower property valuation for their Evansville department store.

Published on Feb. 12, 2026

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The Indiana Board of Tax Review (BTR) has issued a final decision to lower the property assessments for a taxpayer's department store in Evansville, Indiana, after a dispute over the valuation. The BTR found issues with the taxpayer's appraisal methods but accepted the county assessor's sales comparison approach after some adjustments.

Why it matters

Property tax assessments can have a significant financial impact on businesses, so rulings by tax review boards that adjust valuations can affect a company's bottom line. This case highlights the complexities involved in commercial property valuation and the importance of using accepted appraisal practices.

The details

The dispute centered on competing valuation opinions, with the taxpayer's appraisal relying on income capitalization and sales comparison approaches, while the County Assessor utilized sales comparison and cost approaches. The BTR found the taxpayer's appraisal approaches unreliable due to flawed estimates of market rent and retail sales, but accepted the Assessor's sales comparison approach as consistent with generally accepted appraisal practices after making some adjustments.

  • The BTR issued its final decision on February 12, 2026.

The players

Indiana Board of Tax Review (BTR)

The state agency responsible for hearing and ruling on property tax assessment appeals in Indiana.

Evansville Department Store

The taxpayer's commercial property located in Evansville, Indiana that was the subject of the valuation dispute.

County Assessor

The local government official responsible for appraising and assessing property values for tax purposes in the county where the Evansville department store is located.

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The takeaway

This case highlights the importance of using accepted appraisal practices when determining commercial property values for tax purposes, as well as the role that tax review boards play in adjudicating disputes between taxpayers and local assessors.