Goshen office owner disputes assessed value; county offers $415,000 settlement

M. Bonning (the petitioner) told the Elkhart County appeals board that his Edward Jones office on West Lincoln is assessed at a substantially higher per-square-foot value than adjacent office buildings and comparable Edward Jones locations. He provided an itemized income and expense statement, neighborhood comparables and argued an assessed value of roughly $84 per square foot would be fair.

Petitioner presented income and expense data, cited differences between above‑grade and basement square footage in neighboring properties, and suggested a capitalization approach would place value materially lower than the assessor’s figure. The county’s representative, Ty Miller, reviewed the comparables and noted several of the neighboring parcels include different above‑grade calculations or finished basement area that affect per‑square‑foot comparisons.

After reconciling the square‑footage treatment, the county proposed an assessed value of $415,000 for the subject parcel and asked the petitioner whether he would accept it. The petitioner indicated he wanted to discuss points further; the board adjourned the hearing after confirming the record.

The county indicated it had examined property record cards and that the proposed figure accounts for how above‑grade and basement square feet were treated across the comparables; both parties agreed to let the record stand for the board’s review.