December 05, 2013

Assessing The Damage: Property Tax Relief After Tornado Destruction

On November 17, Indiana tied a record for the third most tornadoes in the state on a single day, with 28 confirmed tornadoes damaging several cities in central and southwest Indiana. Faegre Baker Daniels partner David Suess authored an article appearing in Inside Indiana Business explaining that those with property damaged by a natural disaster have legal options that could provide property tax relief by reducing the assessed value for that property.

In the article, Suess stressed that property owners must act quickly to reap the benefits of the tax relief as the property owner has 12 months from the date of the disaster to file a petition with the state for survey and reassessment. He also suggested working with a tax attorney who can identify what options are available for property tax relief.

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