Hospital Value Up 8-fold in Assessment
October 10, 2013 — Porter County says progress is being made in an effort between the Porter County Assessor’s Office and Porter Regional Hospital.
Porter County Assessor Jon Snyder went to court this year to get hospital records for a valid assessment of the facility’s value, “This has been an ongoing struggle for nearly a year now. I’m glad that this part of the match is done, and we can now move forward with determining tax bills and such for this taxpayer.”
Snyder recently completed a valuation assessment of the Porter Regional Hospital with an independent appraiser, “The appraiser utilized several approaches to value to determine a market value and use per State of Indiana guidelines.”
The appraiser says the facility is worth $244.5-million, with less than $2-million for the land parcel value, and the building worth going from $29-million before it opened to $242-million dollars once operational.
Snyder says, “There is still some question in regards to the abatement the council granted to the hospital and so once the audit determines when this abatement was to take affect then it answers more of the questions in regards to revenues that would be generate as resolve of this assessment.”
The assessor says the hospital administration has 45 days to appeal the County’s assessment but he believes, “It’s imperative that the local assessor for every parcel in his county fairly and accurately, and if it’s not done that way, then potential every tax payer could share more of the tax burden.”
Porter Regional Hospital did respond to our correspondence, though not prepared to release a statement about the assessment or an appeal.
The 300-bed hospital opened on its 100-acre campus along Highway 49 in August 20-12.
By Denise Turner