Indianapolis PTABOA Meeting Summary – January 30, 2026
Indianapolis Property Tax Assessment Board of Appeals (PTABOA) Meeting – January 30, 2026
The board convened at 2:15 PM to hear appeals, approve minutes, and act on a large docket of property assessment petitions. The meeting featured a detailed hearing on the Arborwood Apartments assessment, with testimony from the petitioner's attorney and discussion among board members about valuation methodology. The board also handled routine consent items and approved a multi-page preliminary agreement list.
Consent Calendar
- Minutes from the December 2025 meeting were approved unanimously.
- Pages 1–16 (except those tabled) were set by motion and second, passed unanimously.
- Pages 17–489 (preliminary agreements) were approved with exceptions for parcels tabled earlier in the meeting.
- Withdrawals on pages 490–1263 were approved.
- Exemptions on pages 1264–1272 were approved.
Public Comments & Testimony
- Catherine Merritt Fraser, attorney for 6505 Tanner Drive, LLC (owner of Arborwood Apartments), presented a detailed appeal. She argued that the 2024 assessment of $37,431,600 should be reduced to approximately $31.8 million, consistent with a settlement reached with the assessor's office. She cited Indiana Code requiring the lowest of three valuation methods (income capitalization, sales comparison, replacement cost) and presented exhibits showing actual income, market vacancy rates from CoStar, and comparable assessments. She stated the property was purchased for $51 million in 2023 while still under affordable housing restrictions, which depressed rents as of January 1, 2024.
- Board members asked questions about occupancy (65.87% as of Jan 1, 2024), the impact of affordable housing conversion, the use of a 2.243% effective tax rate (including a voter-approved referendum), and the appropriateness of a 17% vacancy rate used in earlier models. Ms. Fraser provided revised market vacancy data (7.2% for 1- and 2-bedroom units, 10.6% for 3- and 4-bedroom units) yielding a blended vacancy of ~8.6%.
Discussion Items
- Arborwood Apartments Assessment (Parcels 2012 & 20142): The board discussed whether to sustain the $37,431,600 cost-based assessment or reduce it. The assessor's office had originally agreed to a settlement of $31.8 million (via signed Form 134), but the board tabled that in October 2025. At this meeting, the assessor's representative expressed concern that the vacancy rates used in the income approach might be overstated. After debate, a motion to sustain the $37,431,600 assessment was made, seconded, and passed 4-0. The petitioner may appeal to the Indiana Board of Tax Review.
- Table Requests for Housing Agency Parcels (Page 12): Two parcels (105, 8745 & 1090965) were tabled to the next month because the taxpayer (a housing agency) could not attend. Motion passed.
- Miscellaneous Parcel Reviews: Board members reviewed several other properties, including:
- Single-family homes with very poor condition designations (page 181)
- A commercial lot with a retention pond and wooded area (page 287)
- A scattered-site apartment complex (page 370) where value was increased from $4.8M to $6M by agreement
- Vacant lots in Pike Township (Augusta subdivision) adjusted to sale prices of ~$20,000 each
- A property at 4309 Southeast Street (page 501) changed from commercial (insurance office) to residential use, reducing the tax cap from 3% to 1%
- Administrative Items: The board discussed the need to elect a president for the upcoming year and the possibility of staggering board terms. The clerk will consult with the Office of Corporation Counsel (OCC) on procedures.
Key Outcomes
- Arborwood Apartments: Motion to sustain the 2024 assessed value of $37,431,600 passed 4-0. The petitioner indicated she would likely appeal to the Indiana Board of Tax Review.
- Pages 1–16: Approved as presented, with two parcels tabled to next meeting.
- Pages 17–489: Approved with exceptions for tabled parcels.
- Pages 490–1263 (withdrawals): Approved.
- Pages 1264–1272 (exemptions): Approved.
- Next Meeting: Scheduled for February 2026 in Room 221 (same building, left-hand corridor).
- Officer Election: Board agreed to hold an election for president in February; the clerk will clarify requirements with OCC.
Meeting Transcript
Yes. I think we're already late today. You got a tape reporter? We are being filmed. Oh. Okay. It's all recorded, so we're good. Okay. I gotta go back and watch. We'll go ahead and start a Peter Bowl meeting for today's January 30th, 2026. First board is I guess we'll introduce ourselves. Joe O'Connor on the county assessor and secretary of the board. Great. Greg Rath now, uh member of the board. Kathy Gould, board member. Steve Adamie, president of the board. Kevin Robinson board member. Okay, first order of business is minutes from last month. I'll make a motion to uh accept the minutes from last month as written. No second. It's been moving secondary for discussion. Seeing none all in favor say aye. Aye. Aye. Against the ayes have it. Do we have guessed? Yes. Um they are on believe it. I'm trying to find one of the parcels now. Uh I think the one we're going to talk about is indicator and it's Arborwood apartments. Catherine, do you know the parcel? There are three parcels in total. The parcel numbers are T01 and 4372. 2012 855. There's a third small land parcel. That one's not on there because that one already, we can talk about it, but that somehow still went through with withdrawal. Okay, that's fine. The intention was to withdraw it, but to settle it as part of the economic unique. So page three ninety-seven. This is one that was tabled. Um gosh, back in Octo October. Um for us to review. It had so the value that you see on there is um the original value. The second parcel is 2012. And that is on page. Uh 2855. Should be close by cater two. Yes, it's decor two. So it's gonna be on three eighty six. And um so the original value on the total assessed value for all the parcels was thirty-seven million, four thirty-one six hundred.
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