Rental Properties

Allen County currently uses the Income Approach as well as the Cost Approach when assessing income-producing properties. Because income properties are purchased with investment as the intent rather than owner occupancy, the market is different and the State requires the Gross Rent Multiplier to be used. The Gross Rent Multiplier creates a direct relationship between the gross rent generated by a rental property and the sale price, or market value, allowing for assessments based on the investment potential.

  • Sale Price ÷ Rent = Gross Rent Multiplier (GRM)
  • Rent × GRM = Assessed Value

Own a rental property? Please fill out one of the brief online questionnaires below. Each questionnaire is available as an E-Form or a fillable PDF that can be submitted via email, mail, or fax.

How is this information used to value rental properties? Read the How Are Income Property Values Calculated (PDF).

Per IC 6-1.1-4-39, "If a taxpayer wishes to have the income capitalization method or the gross rent multiplier method used in the initial formulation of the assessment of the taxpayer's property, the taxpayer must submit the necessary information (rental questionnaire and copy of lease/Schedule E) to the assessor not later than the January 1 assessment date"

Do you own a rental property that was previously receiving the Homestead Deduction? If so, you must notify the Auditor's Office.

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