Franklin County: Property Tax Reappraisals—What to know

2017 is the year for property reappraisals in Franklin County. Many of our clients are wondering what this means and how it will impact their property taxes. While each case is unique and we won’t know the final property tax bill until December, this is nothing new.  Under Ohio state law and Department of Taxation rules, properties are reappraised every six years and property values are updated in the third year following each sexennial reappraisal. The Franklin County auditor’s office has listed the following schedule for the 2017 reappraisals:

  • August 2017: Tentative values are released
  • September 2017: Informal value review sessions
  • October 2017: Franklin County to finalize values
  • December 2017: Final tax bills mailed to residents
  • December 2017-April 2, 2018: Open filing period with the Board of Revision

Property reappraisals are not intended to increase or decrease taxes, but to keep property values up to date with the market. However, in some cases where property values do increase or decrease, property owners may see changes in their property taxes, albeit to a lesser extent.

If you are satisfied with your reappraisal, you don’t need to do anything. This amount will be used to calculate your property tax bill which will be mailed to you (or your mortgage company) in December for the 2017 tax year (payable in 2018).

If you disagree with your reappraisal after you receive your final tax bill, you can contest the County’s valuation of your property by filing a Complaint Against the Valuation of Real Property with the Franklin County Board of Revision. Complaints can be filed between December, 2017 and April 2, 2018. The Board of Revision will then schedule an in-person hearing to review your case. The best way to contest a valuation is for the property owner to obtain an appraisal of their property from a Certified Appraiser. To the extent the appraisal is vastly different from the County’s reappraised value, it may be worthwhile to file a Complaint Against the Valuation of Real Property with the Franklin County Board of Revision. In some cases, it may be worthwhile to hire an attorney to walk you through the entire process, including hiring an appropriate appraiser, or at a minimum represent you in your in-person hearing with the Board of Revision. It is important to note that filing a complaint doesn’t guarantee that your property valuation will be adjusted.

If you are concerned about the long and short-term impacts of the new valuation, don’t hesitate to contact your financial planner. If you are considering disputing your property valuation, please contact the county auditor’s office. They can help you with the necessary steps to dispute your property value.

* This information directly pertains to Franklin County, Ohio, the process may be different in your jurisdiction. Please view your local county auditor’s webpage for the most accurate information.

 

Resources: Franklin County Auditor website

 

Written by: Kevin Wuebker