May 18 2017 Newsletter (888) 516 9594
Do You Have a Financial Roadmap?

Many communities across Indiana, large and small, are facing financial challenges due to rising costs, declining revenues, lack of economic growth, and property tax losses due to Circuit Breaker Tax Credits. All of these factors are changing the way we budget. Taking a short-term approach to budgeting is no longer sufficient. There is a greater need to extend planning horizons beyond one year and develop long-term cash flow projections to identify potential budget deficits and cash flow shortages before they occur.

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Your Nearby “Dark” Retail Store Could Devalue Assessments

Common sense says that a retail store going out of business on one side of town wouldn’t affect the assessed property value of an operating store on the other side of town – but it could. The operating store’s assessment could be assessed at the same level as the “dark” store.

Retailers ranging from the big box stores to national drug chains have used the property values of closed or vacant stores to file assessment appeals on operational stores. As a result, the assessed value of operational stores can be reduced significantly to that of comparable vacant buildings in other areas. The dark store valuation, which has typically been applied to retail appeals, could also apply to other market segments.

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