Last week, Franklin County Auditor, Clarence Mingo, issued the first countywide property reappraisals in six years. To the pleasure (or ire) of many Franklin County homeowners, property values in central Ohio dropped considerably. Of Franklin County’s 376,383 residential properties, values dropped in 6.7 percent of the properties from 2005 to 2011. With over 75 percent of property values declining, Franklin County property owners now must cope with the fallout.
Much to the surprise of some, 19 percent of Franklin County property owners actually saw their property values increase. To address discrepancies and disputes, Franklin County is offering 17 review sessions scheduled through September 29. For those property owners who challenge the new proposed valuation, decisions will be rendered sometime before the end of the year – just in time for the tax bills to be mailed at the end of December. For those who think that the valuations are arbitrary, the Franklin County Auditor’s office has stated that it took 39 county appraisers two years to examine each parcel in the county.
Taxpayers who are either unable or choose not to utilize the review sessions over the next month, the Franklin County Board of Revision will begin the appeals process on January 3, 2012. Property appraisers in central Ohio are busy working with property owners and many are unable to schedule new appraisals for at least two weeks.
If you or your family have recently had your property reappraised and you would like help challenging the the new auditor’s proposed value, contact the attorneys at Kohler & Smith Co., LPA today.