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County officials: Expect increase in assessed values
Putnam County property owners can expect an increase on their upcoming tax statements. However, they are not alone among Indiana residents in this fact.
The Putnam County Assessor’s Office recently announced that when Form 11 is sent out, owners are likely to see a significant increase in property values, both of structures and agricultural land.
Dictated by the Department of Local Government Finance, the increases coincide with other increases that consumers can see in the cost of building anything since DLGF last did cost tables four years ago.
When the cost tables are updated, the cost of replacement of a structure is analyzed, then depreciation is considered, and the numbers are based upon that. Cost table analysis is drawn from the Craftsman and NBC Manual.
“In four years’ time, 2x4s, bricks, everything has gone up,” Assessor Janet Brown told the Banner Graphic. “In four years, it’s really changed.”
Additionally, the cost of commodities has driven up the average price of agricultural land as well, as the base rate of agricultural land is up to $1,500 per acre.
“It’s all around the state,” Brown said. “It’s how Indiana does its cost schedule.”
Although there is little the Assessor’s Office can do to change the tax bills, Brown said residents are welcome to call the office at 653-4312 with any questions.
“We will help people understand it as best we can,” she said.
NOTE: An earlier version of this story, as well as the one printed in Tuesday's Banner Graphic, had an incorrect phone number for the Putnam County Assessor's Office.