Indiana’s County Assessors Predict Home Values Well — and that’s the Problem

Indiana uses an assessment standard for property taxes called “market value in use.” The assessment is the value of the property decided by the county assessor for tax purposes. It’s a prediction of what the house could sell for, on the open market, if it continues in its current use. How much would a stranger pay for your house, if they want to live in it, and not convert it to some other purpose? Purdue ag economist, Larry DeBoer, explains.