Understanding the Valuation Process

Because market values change over time as properties are bought and sold, Ohio law requires that each home in the state go through an appraisal process every six years (a sexennial). In addition, every three years (triennial), the appraisal is updated. There are six major steps of the valuation process. While these steps may vary slightly from county to county, these are generally reflective of the steps that all counties follow.

  1. Collection
    With appraisals that happen every six years, state registered appraisers physically visit each home in the county to update property characteristics like dwelling type, age, condition, number of rooms.
  2. Analysis
    The county auditor’s office takes great care to ensure that property information is correct and that each property is assessed in a fair and uniform manner.
  3. Setting Value
    The estimated fair market value is used as the gauge when valuing property and setting the appraisal.
  4. Feedback
    Notices of value are provided to homeowners who have the opportunity to provide feedback and have questions and concerns addressed.
  5. Review
    Once the valuations go through the feedback process, they are sent to the state for review and validation. This is yet another step in the process to ensure that valuations are fair, correct and follow accurate trends across each county
  6. Finalization
    When the county auditor announces the completion of property valuations, all records are made available for public inspection.

How does valuation impact my taxes?
Due to recent levies now taking effect, property owners may notice changes in their bill.
There are two components that make up a property tax bill:

  1. The first component includes the various tax rates, which are set by taxing authorities, such as school districts, park districts, townships, villages and city councils.
  2. The second component is the assessed value of one’s property.

A third component may include special assessments submitted from municipalities, townships and counties.

2017 CAAO SUMMER CONFERENCE

JUNE 12-14, 2017
GREAT WOLF LODGE
MASON, OHIO