Property tax bills to go down

INDIANAPOLIS (WISH) - Home and business owners in Marion County can get some important tax news starting now.  The assessments show how much the city believes your buildings and land are worth and how much you'll have to pay in taxes on them.

According to Assessor Greg Bowes, most homeowners will see their assessments and their tax burden drop.

"Assessments are going down compared to last year because we are now catching up with the downturn in the housing market," Bowes said.  "The value of houses is going down, and now the assessments are reflecting that."

Bowes also said that property tax bills will go out on time this year for the first time since 2006.

Because assessments have gone down, the city will take in millions of dollars less in revenue. City leaders say the drop in revenue will make it very difficult to put together budgets for the next two years.

If you want to find your new assessment out right now, click here to go to the Marion County Assessor's site. At the bottom of the page, you'll see a link to view the "2009 Pay 2010 assessed value" for any property in Marion County. It will guide you through a search where you can find your home.