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Committee advances bill to let Gary use averaged appraisals to move city parcels back to private ownership
Summary
The committee passed Senate Bill 232, which allows the City of Gary to use sampled average appraisals to set minimum offering prices for groups of similar parcels, aiming to reduce appraisal costs and speed property transfers back onto the tax rolls; the bill passed 13-0 after testimony from city officials.
The Local Government Committee voted to pass Senate Bill 232 after presentations from the bill presenter and local officials. The bill allows the city of Gary to conduct a set of sample appraisals (ten residential and ten grouped commercial samples) and to post annually an average value per square foot for residential lots and average value per acre for commercial parcels; those averages may be used to…
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