To all taxpayers in Randolph County, as I prepare the Notice of Assessments to be mailed, I have found that there are areas of this county where, based on Market Trends, values are to be raised 30+% however, I can not find it profitable for anyone to increase the values to meet that goal. It is my hope the State will accept my values and allow for, if needed, a much lesser increase. THere are also areas where the values reflect a significant decrease however, like the increase, it is not feasible or equitable to reduce the values beyond a Marketable Value.
Some will see, especially in Washington, Stoney Creek and Union Townships a dramatic increase in Land Values. If you do see a significant increase, most will know why but rather than spectulate, the reason will be associated with AG Land increases to $1,500 base rate (+210) as well as those who have contracted with alternative energy companies, the land used for those facilities caused the land to be assessed as Commercial. Those with Wind Farm associations, the rates have not changed however, next year, those with Solar Associations will see a significant increase as it is now State Law that the Department of Local Government and Finance (DLGF) is reqruied to set the rate per acre for the land inside the fence. The Central Districts of Indiana has the highest rate in the State.
Regardless of the reason, the last few years has seen a significant increase in home sales and sale values, which, since 2007, has determined the overall value of each home regardless if it sold or not. It does not take into consideration any limitations such as "fixed-income" and status to pay. The value is based on what has sold with anticipation of will sale. No one knows if they can sale their home for the value until they do.
It is my responsibility to you, the tax payer, to make you aware. With that being said and with Market reports not sure when the bubble will burst, as long as someone is willing to pay, the State will assess based on that value and adjust all other homes accordingly. This also includes Commercial and Instrustrial facilities.