PORTER COUNTY ANNUAL ADJUSTMENT ORDER FOR 2009 pay 2010

On August 3, 2009, the Indiana Department of Local Government Finance (“Department”) gave requisite notice of its determination that Porter County had not made annual adjustments to assessed valuations required by 50 IAC 21 for 2009 pay 2010 property taxes. By law, when a county fails to make an annual adjustment to assessed valuations, the Department must perform that task for the county.

On Monday, August 17, 2009, at 6:30 p.m. (CDT), in Section C of the Harre Student Union Ballroom, 1509 Chapel Drive, Valparaiso, IN 46383, the Department held a public hearing concerning its proposed performance of the annual adjustment on real property for Porter County. The Department had previously given requisite public notice of the hearing.

Using data permitted by 50 IAC 21-12-1 and having heard public comment at the August 17, 2009 hearing, the Department orders the application of the following percentages as an annual adjustment to assessed real property values in Porter County for 2009 pay 2010 property taxes:

Vacant Industrial 100%

Improved Industrial 101%

Vacant Commercial 100%

Improved Commercial 101%

Vacant Residential 100%

Improved Residential 100%

As stated at the August 17, 2009 hearing, these percentages apply to valuations of property as of January 1, 2008, for the March 1, 2009 assessment date. The Department derived these percentages for Improved Commercial and Improved Industrial property using Marshall and Swift Cost Basis factors. The Department derived the Improved Residential percentage from 2008 Porter County sales data. Finally, because of a lack of reliable data to determine the percentage change in value for all vacant property, the Department determined to leave those values unchanged.

Dated: August 19, 2009

Timothy J. Rushenberg, Commissioner Department of Local Government Finance

STATE OF INDIANA

DEPARTMENT OF LOCAL

GOVERNMENT FINANCE

I, Brian E. Bailey, General Counsel for the Department of Local Government Finance, do hereby certify that the above is an order of the Commissioner of the Department of Local Government Finance made this date in the above entitled matter and that the Commissioner has signed the same under his statutory authority.

WITNESS MY HAND on this 19th day of August, 2009.

Brian E. Bailey, General Counsel

Department of Local Government Finance

(August 24, 2009)