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Madison Local board authorizes filing to increase tax valuation on former medical clinic parcel
Summary
Board approved filing a complaint to increase the 2024 valuation of a McCracken Road parcel after staff said the auditor's value lagged the 2023 sale price, with staff estimating about $10,725 in additional annual revenue if the valuation is raised.
The Madison Local School District Board of Education voted March 19 to authorize filing a complaint challenging the 2024 valuation of a property identified as permanent parcel O1B122000012-0, a former medical clinic on McCracken Road.
Treasurer staff told the board the county auditor's assessed value for tax year 2024 was $505,550, while the property sold in 2023 for $1,567,450. Board members were told the district's real-estate tax attorney, David Rose, advised pursuing a complaint due to the large discrepancy. Staff estimated that an increased valuation could generate roughly $10,725 in annual revenue for the district if the valuation is adjusted.
Board members discussed that the district does not frequently file valuation complaints and generally does so only when there is a significant discrepancy between assessed value and market sale price. The motion to authorize filing the complaint passed by roll call.
Next steps recorded in the meeting: staff indicated they would work with counsel to file the complaint with the valuation board and return to the board with outcomes or further recommendations.
No vote totals beyond the recorded roll-call 'Yes' votes appear in the public transcript.
