As an Ohio property owner, you may know that a county auditor performs a reappraisal on your property every 6 years. The purpose of the reappraisal is to determine the amount you ultimately pay in real estate taxes.
There may come a time when you do not agree with the auditor’s valuation of your property. When this happens, you have the option of challenging the property valuation figure through a complaint process.
Reasons to challenge your valuation
There are many reasons you may want to challenge your property valuation, including:
- Damage to your property
- Declining market values for comparable properties
- Declining rents in your area
If you recently purchased your home and feel that the valuation is extremely high compared with what you paid for it, filing a complaint may be a good idea.
The complaint process
The first step is to file a complaint for valuation with your local Board of Revision. The complaint contains a list of several questions about your property that must be answered.
Once the board receives your complaint, a hearing will be scheduled. If the reduction you are seeking is more than $50,000, your local school board must be notified and may appear at the hearing.
Your hearing will last approximately 15 to 30 minutes. You will have a chance to present evidence and testimony about why you think your property valuation is wrong.
You will not receive a decision on your complaint at the hearing. The board issues a decision 2 to 4 weeks after a hearing. If you do not agree with the decision, there is an appeal process available.
Challenging your valuation may be worth it
Although the process may seem daunting, challenging your property valuation can be a very good idea if you truly feel the valuation is inaccurate. You may get your tax bill reduced substantially if your complaint is successful. A real estate attorney can provide advice and help you develop the best strategy to prevail on your complaint.