11/3/14

41 of Ohio’s 88 Counties are Reappraising or Updating Tax Valuations for 2014

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Originally published in The Evaluator.

The State of Ohio requires counties to reappraise properties for tax purposes every six years and up-date those values in the middle of that cycle.  This cycle is not evenly distributed between Ohio’s 88 counties.  In fact, 41 of Ohio’s 88 counties were required to perform this mandated reappraisal or update of the January 1, 2014 tax valuations.  The 2014 lien date value is the basis for the tax bills paid during 2015.

Given the challenge of re-valuing all properties in a county, it can be difficult for the county to fully understand specific challenges facing a property.  Property owners need to be proactively managing these valuations and the potential changes in tax expense. 

Real estate taxes are frequently the largest non-productive expense incurred by property owners, and proactive management of this expense could lead to increased profitability and increased valuation of income-producing properties.  Now is the time to start preparing to review those tax assessments to make sure that for each property you are paying your fair share, and only your fair share, of the property tax burden. 

While valuations can be challenged in any county, the following counties are those required to reappraise or up-date the tax values as of January 1, 2014:

Update Counties:

Reappraisal Counties:

       

Auglaize

Clinton

Darke

Defiance

Delaware

Franklin

Gallia

Geauga

Hamilton

Hardin

Harrison

Henry

Jackson

Licking

Mahoning

Mercer

Morrow

Perry

Pickaway

Pike

Preble

Putnam

Richland

Seneca

Shelby

Trumbull

Van Wert

Wood

Ashland

Ashtabula

Athens

Butler

Clermont

Fulton

Greene

Knox

Madison

Montgomery

Noble

Summit

Wayne

Vorys has significant experience in analyzing real property tax assessments and securing real property tax savings.  To discuss an analysis of the opinions of value assigned by your county auditor, please contact us for a complimentary review.