The Marion County Assessor and Manatron, the contractor working on the state-ordered reassessment for 2006, have mailed a "Commercial/Industrial Income and Expense Statement" survey form to all commercial and industrial parcels in the county. These forms were mailed the first of the week of January and are now being delivered to the property addresses, so you may have yours in hand by now.  To see a sample of the form, please click here.

Below are some key points you should take into account when completing the form:

• The survey is voluntary; no taxpayer is required by law to complete and return the survey. However, should a taxpayer appeal after the reassessment, they will be asked for this information as part of the appeal process if they did not return the survey.
• Non-profit organizations may disregard the survey.
• If the property is owner-occupied, the taxpayer should indicate this fact on the form in the area that asks for income and expense information.
• If the property has not been sold or listed for sale since 2004, the taxpayer can enter “n/a” in the appropriate area of the survey.
• If no new construction (new building, remodeling or additions) has occurred on the property since 2004, the taxpayer can enter “n/a” in the appropriate area of the survey.

This survey will be used to begin building a database of information for assessing officials to use in valuing property for property tax purposes.

We are available to consult with you on this matter and assist in your response to the Marion County Assessor.  Please contact your Somerset advisor or a member of our Real Estate Team to discuss your situation.