Knox County Assessor Woody Woodward has made a public statement regarding an increase in assessed property values—and related property taxes.
In a statement, Woodward reports the State of Indiana revised the cost tables for property. That has made what he calls a “substantial” increase in assessments. Among the largest rises is in the assessments of agricultural structures. Various County assessmors— including Woodward in Knox County—is using so called obsolescence adjustments to lower the steep property value increase. The move is part oif a plan to keep property assessment increases from becoming unsustainable.
The increase will also affect commercial and residential property. However, the changes will not be as stark to those categories, due to a different assessment approach.
The new adjustments will come into place for this year’s assessments ant taxes, payable in 2027.
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