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ATTORNEYS FOR PETITIONER: JEFFREY T. BENNETT BRADLEY D. HASLER BINGHAM MCHALE LLP Indianapolis, IN

ATTORNEYS FOR RESPONDENTS: STEVE CARTER ATTORNEY GENERAL OF INDIANA DAWN D. CUMMINGS JENNIFER E. GAUGER DEPUTY ATTORNEYS GENERAL Indianapolis, IN ________________________________________________________________

IN THE INDIANA TAX COURT
_____ 117 REPUBLIC LIMITED PARTNERSHIP, Petitioner, v. ) ) ) ) ) Cause No. 49T10-0510-TA-82 ) ) ) ) ) ) ) ) ) _____ ORDER ON PETITIONER'S MOTION FOR REMAND _____ FOR PUBLICATION July 27, 2006 FISHER, J. 117 Republic Limited Partnership (117 Republic) has appealed the Indiana Board of Tax Review's (Indiana Board) final determination valuing its real property as of the March 1, 2003 assessment date. This matter is currently before the Court on 117 Republic's Motion for Remand to the Indiana Board (motion). In its motion, 117

BROWN TOWNSHIP ASSESSOR, MOORESVILLE TOWNSHIP ASSESSOR, MORGAN COUNTY ASSESSOR, and MORGAN COUNTY PROPERTY TAX ASSESSMENT BOARD OF APPEALS, Respondents.

Republic requests this Court to remand the case to the Indiana Board so that it can consider certain evidence that was acquired after the administrative hearing. FACTS AND PROCEDURAL HISTORY 117 Republic owns a one-story industrial building and the ten acres it sits on in Morgan County, Indiana (Property). For the March 1, 2003 assessment, the Morgan County Property Tax Assessment Board of Appeals (PTABOA) assigned 117 Republic's Property a value of $1,017,900 ($142,800 for land and $875,100 for improvements). 117 Republic filed a Petition for Review of Assessment with the Indiana Board (Form 131) on September 14, 2004. In its Form 131, 117 Republic claimed that the assessed value of its Property was higher than its market value-in-use. The Indiana Board held a hearing on 117 Republic's Form 131 on December 2, 2004. During the hearing, 117 Republic indicated that the market value-in-use of its Property was best represented by the arms-length transaction that occurred on February 3, 2003, in which 117 Republic purchased the Property. More specifically, 117 Republic explained that it purchased the land and improvements on that date for $610,000. 1 Consequently, 117 Republic asserted that when the sale price of the Property was "trended back" to reflect the Property's value as of January 1, 1999, the

The record reflects that Woods Industries, Inc., sold the Property and its related personal property to 117 Republic and another party, Indiana Copper Fabricators, LLC, for a price of $1,900,000. The parties to the transaction allocated $610,000 of the purchase price to the purchase of the real property and $1,290,000 to the purchase of the tangible personal property. (See Cert. Admin. R. at 122-132.)

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value of the Property should be $536,000. added).)

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(See Cert. Admin. R. 143, 189 (footnote

After the December 2, 2004 hearing, 117 Republic began to market the Property for sale. As part of that process, 117 Republic had its Property appraised (Appraisal). The Appraisal stated that the Property's value as of April 5, 2005, was $720,000. On August 19, 2005, nine months after the Indiana Board hearing, 117 Republic sought to submit the Appraisal to the Indiana Board as post-hearing evidence. 117 Republic maintained that the Appraisal was highly probative because the appraised value of $720,000 was consistent with the 2003 allocated purchase price for the Property. On August 29, 2005, the Indiana Board issued an order denying 117

Republic's motion to submit the post-hearing evidence. On the same day, the Indiana Board issued its final determination upholding 117 Republic's assessment. 117 Republic filed an original tax appeal on October 13, 2005. The Court heard the parties' oral arguments on June 5, 2006. necessary. STANDARD OF REVIEW This Court gives great deference to final determinations (and orders) of the Indiana Board when it acts within the scope of its authority. See Wittenberg Lutheran Vill. Endowment Corp. v. Lake County Prop. Tax Assessment Bd. of Appeals, 782 N.E.2d 483, 486 (Ind. Tax Ct. 2003), review denied. Consequently, the Court will Additional facts will be supplied as

reverse a final determination of the Indiana Board only if it is: Indiana's assessment regulations provide that all assessments between March 1, 2002 and March 1, 2005 should reflect the property's value as of January 1, 1999. See 2002 REAL PROPERTY ASSESSMENT MANUAL (2004 Reprint) (incorporated by reference at IND. ADMIN. CODE tit. 50, r. 2.3-1-2 (2002 Supp.)) at 2, 4. 3
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arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law; contrary to constitutional right, power, privilege, or immunity; in excess of statutory jurisdiction, authority, or limitations, or short of statutory jurisdiction, authority, or limitations; without observance of procedure required by law; or unsupported by substantial or reliable evidence

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IND. CODE ANN.

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