The 2023 reappraisal, which establishes a current fair market value, includes a physical viewing of the property to verify characteristics (type of construction, number of stories, decks, porches, etc.). A new street level image of the property is also taken as part of this process and posted on the Auditor's website.
How often are properties reassessed in Ohio?
Every six years
The Department of Taxation ensures uniformity through its oversight of the appraisal work of Ohio's county auditors. Ac cording to state law and department rules, auditors conduct a full reappraisal of real property every six years and update values in the third year following each sexennial reappraisal.
What is the 2023 reappraisal in Ohio?
THE 2023 PROPERTY REAPPRAISAL
Ohio law requires the county auditor to update all property values countywide every three years to reflect recent changes in the marketplace. The 2023 reappraisal involves a visual exterior inspection of each property throughout Franklin County.
How is property assessed in Ohio?
General Information. Under Ohio law, the Auditor determines a fair market value for each property - an agreed upon price between a willing buyer and seller in the open market. The Treasurer collects taxes based on property value and current tax rates (millage). Taxes are determined by voters.
Does Hamilton County Ohio have a senior discount on property taxes?
The Homestead Exemption allows low-income senior citizens and permanently and totally disabled Ohioans to reduce their property tax bills by shielding some of the market value of their homes from taxation. Applications may be filed with the County Auditor on or before December 31 of the current calendar year.
How do I find out how much my property taxes are in Ohio?
You pay real estate taxes on the assessed value (35% of the property's appraised value) of your property. The assessed value of the property multiplied by the effective tax rate of voted levies equals the amount owed.