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Board allows time for MAI appraisal after contentious mezzanine valuation dispute
Summary
After debate over how Forest River mezzanines are valued, the Elkhart County appeals board denied a short extension but later authorized time for the parties to jointly retain an MAI appraiser and return with written conclusions; the county offered to split appraisal costs.
The Elkhart County Property Tax Assessment Board of Appeals spent substantial time on appeals involving Forest River properties on March 17, focusing on how mezzanines are valued for tax assessment purposes. Petitioner representative David (Forest River’s tax representative) argued that current county practice overvalues mezzanines, contending the components should be treated differently for depreciation and possibly as personal property under federal classifications. He told the board he had gathered cost data and appraiser input suggesting current assessment…
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