Property homeowners have a voice in course of for changes and appeals

Fairfield County has skilled inhabitants development of 8.7% since 2010, reaching a US census inhabitants of 158,921 in 2020. With its shut proximity to Columbus, its mixture of cities and rural communities, and its historic and pure magnificence, Fairfield County is a good place to reside. We all know individuals will proceed shifting into the county.

The present actual property market is a vendor’s market. Reviews point out housing shortages of greater than 2,000 houses within the space. In March 2022, the median residence itemizing in Fairfield County was $265.9K, trending up 15.7% year-over-year, and a typical Fairfield County residence listed for $309,950 final month. This pattern of accelerating costs has been constant over the previous three years, and there are reviews of housing gross sales past listed costs.

In 2022, the Fairfield County Auditor’s Workplace is required to carry out a triennial replace to find out the truthful market worth of actual property. The State of Ohio oversees the triennial replace, which considers legitimate gross sales which have occurred over the prior three years, a time the place 1 in 9 houses within the county have offered. With standardized strategies and statistical evaluation, a property’s truthful market worth will likely be recognized. These values ​​will fluctuate amongst neighborhoods primarily based on market circumstances. Within the coming weeks, property homeowners will obtain info within the mail in regards to the newly state-approved valuation of their property.

You will need to take into account that a rise in a property’s truthful market worth does NOT robotically result in a rise in property taxes owed – nor does it imply there will likely be a “greenback for greenback” improve. Whereas property worth is a part of the formulation for calculating property taxes, it’s not the one variable.

For instance, Ohio legislation supplies for discount elements for voted levies. Which means that an element is utilized to scale back taxes due on new market values ​​of current property to supply the identical income that was acquired within the earlier yr. Communities do see will increase in tax income by having extra taxable property (new building) or by the voters approving a property tax improve or a brand new levy. If a property proprietor believes a property valuation must be adjusted, there are each formal and casual choices to enchantment for adjustment. With both choice, property homeowners might want to present proof in regards to the truthful market worth of their property if that worth differs from the worth obtained via the standardized strategies and statistical calculations.

Choices embody: 1. Requesting an off-the-cuff listening to to current proof in regards to the truthful market worth of the property. Casual hearings will likely be held in particular person, nearly, or with cellphone conferences in July and August. 2. Registering a proper criticism with the Board of Revision (BOR). To provoke a property worth dispute, a property proprietor should full a kind known as a criticism. The person(s) finishing the shape should point out what they imagine the truthful market worth needs to be and briefly state a rationale for the requested change. The criticism should be filed with the Auditor’s Workplace between January 1 – March 31.

The BOR is a three-person, quasi-judicial board comprised of the County Auditor, County Treasurer, and a County Commissioner, or their respective designee. The BOR is chargeable for conducting hearings the place in related information, authorized arguments, and proof are offered to find out the truthful market worth of property.

After a criticism is acquired, a listening to will likely be scheduled. Events concerned will obtain a listening to discover by mail a minimum of two weeks upfront of the listening to. After a listening to, the BOR will difficulty a call by mail inside 30 days. A celebration can enchantment a call of the BOR to the Board of Tax Appeals or the County Frequent Pleas Courtroom.

There are sources out there on-line at to be taught extra in regards to the public appraisal of property, the calculation of property taxes, tips on how to schedule an off-the-cuff assembly with the Auditor’s workplace, and/or the BOR listening to course of. Or name the workplace at 740-652-7030 and we’ll be glad to reply questions or information you to extra info.

Dr. Carrie Brown is the Fairfield County Auditor

This text initially appeared on Lancaster Eagle-Gazette: Property homeowners have a voice in course of for changes and appeals