EED Q4 Meeting Summary
Downtown Indy EED Board Update
October 6, 2025
Downtown commercial properties assessed values are rising by 25% next year
BOMA Members have been made aware of the increase. BOMA Advisory Council Member and EED board member spoke up and said that this is very irresponsible by the assessor. Additionally, they said that office properties should probably go down in value next year, not up. No one disagreed with their comment. The only thing added to the comment was that the new tax tables voted on by state legislature partially led to higher assessed values. Most office landlords will be appealing in their opinion. The downtown EED Assessed value will increase by 25.4% from $2.68B to $3.36B.
EED Revenue must be capped at $5.5million as per IC36-7-40-4.
Because assessed values have gone up, the EED rate must go down to get to $5.5million in revenue.
EED Assessment Rate
|
Scenario |
EED Rate (per $100 AV) |
Eligible AV |
Estimated Revenue |
|
Imposed the 2025 EED assessment rate |
0.1681 |
$3,357,604,050 |
$5,644,126 |
|
Generate up to $5.5M |
0.1638 |
$3,357,604.050 |
$5.499,749 |
What does this mean for tax impact in 2026?
The average EED fee for apartments (with retail) will be $5,924. Office average EED fee will be $12,430. Hotels average EED fee will be $50,447.
What happens when you do a tax appeal? Do you get a refund on EED fees already paid?
The good news is yes, long story short you do get the EED fees refunded that you overpaid for due to an assessment that was too high. The bad news is the refunds will be taken out of the $5.5 million annual revenue expected to be collected. For that reason, Taylor Schaffer said that it will be extremely difficult to know how much of the $5.5 million they can responsibly spend. Taylor’s team will spend conservatively to ensure they aren’t caught off guard by tax appeal refunds. They are aware that a number of appeals will be coming in over the next several years. Additionally, the assessor’s office has supposedly made the appeal process cleaner and more efficient in lieu of the unexpected 25% increase in assessed values. That should help in being able to track how much of the $5.5 million will actually be collected and/or refunded every year.