REAL ESTATE TAX CONSULTANTS, INC. OF INDIANA
An Affiliated Company of the Gene B. Glick Company

Real estate taxes are one of the largest expense items charged against any income producing property.   They are also one item that can be reduced without any harm to the property.   But, reductions don't just happen.   If nothing is done to keep the taxes in line, they can grow excessively and become a major burden to the property.

Gene Glick saw the value in controlling this expense and thus in 1989 established Real Estate Tax Consultants, Inc. of Indiana (RETC) as an affiliated company to review and appeal the property taxes on his apartment properties.   After many years of experience and building an extensive database of information on apartment assessments in Indiana, RETC expanded in 1992 to offer its expertise and services to other apartment owners and management companies in the state.

In the 1995 Indiana General Reassessment, RETC represented over 200 properties in Indiana encompassing over 30,000 apartment units.   The real estate taxes for over 80% of those properties were appealed which resulted in a combined annual tax savings of over $2 million.

A major change occurred in the 2002 Indiana General Reassessment.   Since the courts ruled the assessment system unconstitutional Indiana was forced to change from the old cost based system.   Now property in Indiana is assessed based on its Market Value in Use.   When this new system was implemented apartments in general were unfairly over-assessed however through the appeal process RETC has been able to bring its clients assessments back in line.   So far in appeals of the 2002 Reassessment, RETC has saved its clients over $4 million in annual taxes.

Although RETC has also appealed other commercial property types like retail, office, warehouse, industrial, banks, etc., the majority of its cases are apartment communities, including both subsidized and conventional market communities. RETC has represented apartment owners in over half the 92 counties in Indiana before assessors, county boards and at the State Indiana Board of Tax Review.   By doing so, RETC has many contacts throughout the state to maximize the benefit to the property owner.

Why should you have RETC appeal your property taxes?

1. The error rate in real estate assessments is high and the vast majority of those errors are      against the taxpayer.

2. RETC works on a contingency fee basis, so we will review your assessment at no cost to you     and we only get paid if and when we save you money by reducing your property taxes.

3. RETC has regular contact with other professional appraisers and also works with the best     attorneys in the state to keep up on changes in the law and if necessary to assist in taking your     appeal to the highest level necessary.

4. Because we represent so many apartments in so many locations, we have access to an     extensive database of information.   This data is essential to support and win appeals for     you. When attending appeal hearings or conferences we prepare our cases as if they are going     to the highest levels.

The RETC Staff

Our staff will work with you to understand the potential benefits and risks from filing an appeal so the right decision can be made about your property.

Brian K. Poore       
As Vice President Brian manages RETC's tax appeal business, prepares the property analysis and presents the cases to Assessors and Boards of Appeal.   Brian started in the valuation business in 1979 and has been a licensed/certified appraiser for more than 25 years.   Since 1994 Brian has worked for the Glick Company specializing in the valuation of apartment properties and appealing property taxes.   Brian is certified by the State of Indiana as a Certified Tax Representative and has received designation as a Level II Certified Indiana Assessor - Appraiser.

About Indiana Property Taxes

Values are assessed as of March 1st each year with taxes paid in arrears (the following year), half due by May 10th and the other half due by November 10th .   The property owner has the right to file an appeal of the March 1st value so long as the proper appeal form is filed prior to May 10th of that year or within 45 days after the date of a Notice of Assessment.   Once an appeal is filed, there are time guidelines for the assessor, county board and the State Board to hold hearings and issue determinations.   If satisfaction is not achieved after all administrative options are exhausted, the case can then be filed with the Indiana Tax Court.

Indiana has had General Reassessments in 1979, 1989, 1995 and most recently 2002.   Beginning in 2006 Assessors are required to begin applying an annual trending factor to adjust assessments with the market hopefully avoiding the large shifts which occur in General Reassessments.

How to Contact Us

If you are an owner or manager of an apartment property and would like more information on RETC and the tax appeal services that we can provide, please contact us:

Mail:          Real Estate Tax Consultants, Inc.
                   8425 Woodfield Crossing Blvd; Suite 300W
                   P.O. Box 40177
                   Indianapolis, IN 46240

Email:        bpoore@glickco.com

Fax:           (317) 469-8142

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