State legislators passed a law (IC 6-1.1-4-4.5) effective in 2006 requiring assessors to annually adjust the assessed value of real property to account for changes in value. This is called "trending" and it is calculated based on sales in your "neighborhood" or area during the two years preceding the assessment date (2004 & 2005). "Neighborhood" as defined by the Real Property Assessment Manual: A geographical area exhibiting a high degree of homogeneity in residential amentities, land use, economic and social trends, and housing characteristics. If you feel your assessed value is more than what you could sell your property for and you can provide evidence to substantiate this, please bring the evidence to the Assessor's office (First floor, north end of east hall) in the County Courthouse. You will also need to fill out a Petition For Review of Assessment (Form 130)