Over time, real estate values tend to increase, although this isn’t always the case. As a property owner, you have the right to contest your real estate’s valuation if you believe your county has incorrectly assessed it.
This article is meant to provide a very high-level overview. For personalized guidance, contact your attorney at Carlile Patchen & Murphy LLP (CPM) to help you decide if contesting the county’s valuation makes sense for your property.
Ohio Real Estate Tax Valuation Schedule
In Ohio, counties assess real estate taxes based on the property’s value, which is updated every six years, with a mid-cycle update after three years. Revaluations can also occur for other reasons outside this schedule, though those are not covered here. Each county follows its own timeline for revaluations, and you can view the full schedule here.
When to Contest Your Property’s Valuation
Revaluations impact your property taxes, and the process for contesting a valuation depends on whether your county has sent out proposed values or certified values. Proposed values are typically sent in years when revaluation occurs, and certification generally happens at the year’s end.
- Proposed values: Contesting these is usually informal and involves submitting evidence to the auditor’s office and scheduling a meeting.
- Certified values: These require filing a formal complaint by March 31.
Regardless of the process, you will need evidence (e.g., appraisals) to support your claim that your property’s value is lower than the county’s assessment.
Additional Considerations
The procedures for contesting can be complex, especially if your property is owned by a corporation, trust, or limited liability company, in which case legal counsel is required. If you’re considering contesting the valuation, CPM can help assess whether the time and expense involved are worthwhile and recommend appraisers or other resources.
Contesting the valuation of your property can be a complex decision with financial implications. It’s essential to weigh the costs, time, and likelihood of success before proceeding. At Carlile Patchen & Murphy LLP, we are ready to guide you through this process, ensuring you have the right evidence and support to make an informed decision.
If you believe your property has been overvalued or if you have questions about your specific situation, contact your CPM attorney today. We’re here to help you navigate the complexities of real estate valuation and protect your financial interests.
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