Reappraisal

Ohio Law requires for a county-wide reappraisal every six years, called the sexennial update. This revaluation creates equality among property and classes of property. The property is physically examined by appraisers, who research local market values and aspects that influence value. Some factors they look at are: physical characteristics like construction quality, age, structural conditions, and desirable features, recent sales of similar properties which provide the best evidence of market value, location, and market conditions of the neighborhood.

Property value may change for a variety of reasons, such as physical transformations like additions, and renovations or damages. Property value may also fluctuate based on external market forces like industries, housing shortages, or economic recession.

A triennial update is required every three years and updates values. This study and analysis of sales is designed to update market values and to avoid large value changes over the six year period.

The triennial update process involves the county and State working together. The Ohio Department of Taxation recommends value adjustments based on the relationship of value to sales prices by taxing district, and then sends an estimate of increase for the county.

To perform the update, the county contracts with an independently certified appraisal firm. The properties are not physically examined during this process. The county submits changed values to the Ohio Department of Taxation, and the State accepts or rejects those values. Tax rates and bills are then generated based on new values.