Our unique approach to revaluation will take into consideration historical information and combine it with the newest technological resources.  The physical facts are the basis for an accurate revaluation and Vision CAMA software combines the County’s current data, aerial photography, and on-parcel photography to review each parcel with the highest degree of accuracy by our staff of trained and skilled appraisers.  Our staff of statistical analysts will deliver market-based schedules for depreciation, floor and land rates, that reflect the market of the County.  Our neighborhoods and market factors are specifically designed for each County’s unique attributes.

Under Indiana Code (IC 6-1.1-4-4.2), as of July 1, 2012 a “General Reassessment” has been replaced with a “Cyclical Reassessment”.  The basic premise of a cyclical reassessment is to spread the reassessment activities, including the inspection and updating of all parcels and characteristics over a four-year period vs. a twenty-month period. This allows the work and expenses to be spread more consistently and predictably over a longer period, thus facilitating better assessment practices.

All real property parcels are divided into four different groups of property classes (Residential, Agriculture, Commercial/Industrial, Utilities/Exempts) with each group containing at least 25% review per year of each class.

Vision CAMA software combines county data with aerial photography, on-site digital photos and review of each parcel for more accurate information. This will help to provide a more economical process for reassessment.

Our team works with the county to determine the direction the market is moving within each neighborhood.  Vision performs a complete review of sales to ensure only valid sales are used when determining market adjustments. When sales are confirmed, a review is done of each neighborhood, then county wide to ensure the appropriate triennial factors are applied to reflect the County’s market.

Annual adjustments or “trending” of property values became a part of Indiana’s move to a market-based assessment that began in 2002.

Trending requires Assessors to research sales of properties in a particular area over the previous two years.  Using that information, Assessors then estimate the values of other properties in the same area to determine an assessed value.

As part of the Annual Adjustment process, counties are responsible for submitting a ratio study and uniformity for all classes of property in all townships.  The ratio study measures the accuracy and equity of assessments.  It is determined by the formula: Assessed Value/Sale Price = Ratio.  The assessment ratio for all properties in Indiana is to be 100%.

Vision uses a wide range of statistical analysis services to help with a county’s ratio study.  Vision does a complete review of sales for validity by neighborhood, taxing district and county for fair and equitable results.

Vision has a skilled and trained field staff who will pick up New Construction & Demolition yearly.  Vision partners with the County to ensure listing and pricing practices meet County standards.

Vision reviews each exempt property to verify the eligibility of the parcel on the exempt list. We assist the County in making the necessary changes as discoveries are made.

Vision provides a wide range of statistical services for mass appraisal.  Our services can be scaled up or down to accommodate the size and needs of any County. Our methods ensure a consistent and equitable mass appraisal in accordance with IAAO standards.

This is an important piece of any valuation process. Our team will review all sales and help to determine which sales are valid sales and available for statistical analysis.

Time Adjustment of Sales

This proprietary system allows for accurate and correct adjustment of sales from 36 to 60 months. It adjusts sales on a monthly basis based on the conditions and economics that are taking place at the time of the sale so that each sale is correctly adjusted to tax lien date and reflects the value that actually took place and can be used to accurately establish values.

The Current Agricultural Use Value program is intended to be reviewed annually by each County.  ARC will work with the County to validate or invalidate parcels that are currently on the program to ensure compliance.