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Franklin County Property Reappraisal Begins Next Week

 Clarence Mingo Franklin County Property Reappraisal Begins Next Week
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Franklin County Auditor Clarence Mingo

Property owners in Franklin County will receive a letter from me during the week of August 21 informing them of the 2011 Reappraisal “tentative value” for their property.

The word “tentative” above is important to note. Property values will not be finalized until later this fall. During September, each property owner in Franklin County will have the opportunity to sit down with a qualified appraiser in a one-on-one setting at an Informal Value Review. All owners are welcome to attend to offer supporting information to justify a different value or for those who are merely curious to inquire about the process.

While it is almost un-American for property values to decline, we are anticipating an average reduction in residential values in excess of six percent countywide. Never before have we seen a decline like this in Franklin County. Certain pockets of the county will see a rise in residential values but the majority of the more than 373,000 residential properties in the county will see a decrease.

The decline in residential values also has a substantial impact on taxing jurisdictions. Most school districts receive a sizable amount of their funding from property taxes. With a decline in value, some levies that were passed in recent years will not generate the same amount of money initially anticipated. School districts, municipalities and other government agencies will have to determine how to cope with reduced revenues.

A common misconception is property taxes decrease in the same percentage as the property value decreases. Ohio passed House Bill 920 in 1976. The law protects homeowners from large tax increases when property values are rising and, to a certain extent, protects taxing jurisdictions when values are decreasing. Just as our property tax bills have not risen at the same rate that property values have increased in the past, homeowners in Franklin County will not receive a significant tax break because House Bill 920 protects governmental entities from losing a significant amount of tax revenue on older levies when property value declines.

To establish the new property value, the appraisal process is utilized. There is a science behind this process. The property’s value is not arbitrarily assigned but rather is established by the certified appraiser’s analysis of the actions of property buyers and sellers.

For the past two years, the Franklin County Auditor’s Office has also been employing state-of-the-art technology to gain the best information and analysis to assist in the completion of the 2011 Reappraisal. The new technology features aerial photography and a sophisticated mapping program allowing for a far more efficient expenditure of tax-payers dollars. This technology is estimated to have saved taxpayers $1.5 million.

Ohio Revised Code requires that county auditors revalue all real property once every six years and update values in a triennial update in the third year following each reappraisal. Franklin County property was last reappraised for tax year 2005. During the triennial update in 2008, due to market conditions, the majority of residential properties received no value changes. The Informal Reviews will be an opportunity for taxpayers to have input into their value before tax bills are calculated. We will not be able to calculate new tax bills until after the new tax rates are certified from the State of Ohio in late 2011.  The taxes based on the new values will be payable in January and June of 2012.

I encourage you to visit our web site at www.FranklinCountyAuditor.com, call our office with any questions at 614-525-HOME (4463), or email me at ClarenceMingo@franklincountyohio.gov. We will extend our office hours until 9 p.m. from August 24 through October 3. You also are invited to tweet questions to our office at @FC_Auditor or to me personally at @ClarenceMingo.

My staff and I look forward to helping the residents of Franklin County gain a better understanding of the 2011 Reappraisal during the coming weeks and months.

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13 Responses to Franklin County Property Reappraisal Begins Next Week

  1. racheltb August 17, 2011 10:48 pm at 10:48 pm

    Thank you for addressing those of us who receive our local news via Columbus Underground. I appreciate the forewarning and explanations you gave.

  2. Crunchy August 18, 2011 7:29 am at 7:29 am

    Love reappraisal week. got the house all decorated.  i love the songs.

  3. Hamsterdam August 18, 2011 10:42 am at 10:42 am

    I echo Rachel’s sentiments. Sounds like a damn tricky process but you layed it out well.

  4. Nuttybat
    Nuttybat August 18, 2011 9:20 pm at 9:20 pm

    Thank you for the information Clarence.  You’ve done a great job with the website!

  5. kmccartney August 21, 2011 3:37 pm at 3:37 pm

    Thanks for the wonderful explanation on how Franklin County Appraisals works.

  6. botimusPrime August 22, 2011 8:14 pm at 8:14 pm

    Please! These re-appraisals are going to be abhorrent! This is another attempt of the government trying to take away our money! NOW they are lowering the quality of our land. Excuse me? I’ve only improved on my home for the last five years. There’s no reason it should go DOWN in value. Notice how the article indicates ‘decline in value, some levies that were passed in recent years will not generate the same amount of money initially anticipated.’ In other words “We need more of the money you don’t have because what we told you that was going to fix it, isn’t going work when we’re done”. We passed the levy to fix the problems and then what does the city do? Rewrite the law books to make that increase worthless. People this is Gitmo Nation! This Government is doing everything is can to take your hard earned dollars to keep you in the poor house while passing along the savings to the upper elite! Enough is enough! I’d say vote this people out of office but we already know that our voting system is fraudulent! Time for an uprise!

  7. DavidF
    DavidF August 23, 2011 7:55 am at 7:55 am

    botimusPrime is gonna be a joy to have around. Like Topix without the good sense.
    If you don’t understand how a property can go down in value even after improvements, then pretty much every discussion of economics is gonna confuse you.

  8. botimusPrime August 23, 2011 8:25 am at 8:25 am

    You don’t have to have a degree to economics to understand how the government is stacking the deck against the common man.

  9. Likes Old Houses
    Likes Old Houses August 23, 2011 11:51 am at 11:51 am

    +1 to Nuttybat, I love the website.  I emailed a question/concern with my current data and will see if I get a response.

  10. Ameya August 23, 2011 9:18 pm at 9:18 pm

    Oh wow, I laughed out loud. Gitmo nation!!! Hilarious. It’s like I broke my own rule and read regular newspaper comments.
    You may not need an economics degree but a class or two sure wouldn’t hurt.
     
     
    “Interestingly, it’s seldom reported that two-thirds of homeowners live in subsidized housing. The cost to federal coffers of the income tax deductions for mortgage interest and property tax is four or five times the amount we spend directly on “affordable housing.”

    Because tax benefits are higher for more expensive homes, most of the tax benefits go to people with higher incomes. We even give homebuyers an incentive to spend more for their homes.” (from here )
     
    THE GOVMUNT IS OUT TO GET US MIDDLE CLASS FOLK!! RUN FOR THE HILLS WITH YOUR GUNS!!!!!!!!!!!!!!!!
     
    PS Thanks for the post Mr. Mingo. I actually was on your website all weekend working on a housing paper for one of my classes. I think I was fighting with a map or few.. but that’s probably more my fault for needing information that isn’t up or isn’t public.

  11. botimusPrime August 24, 2011 8:08 am at 8:08 am

    Ameya, I don’t live in subsidized housing. I’ve put over 15,000 into my home and now they’re going to tell me my home is less than what I bought it for? Something’s wrong here. House property should rarely go down. I can maybe understand if there is more crime, or the house wasn’t kept up. But Columbus invested huge amounts of money in the Northland project and now they’re telling us it didn’t do anything? Bullshit.
    I guarantee you when they re-evaluate these homes those in lower-case neighborhoods (such as mine) will notice their prices go down, have to pay more taxes, while those in higher-class neighborhoods will probably notice no change at all. Doesn’t seem quite fair not does it?
    I have seen this time and time again. Buying a home in Columbus is a turned out to be a complete racket and the government will continue to do whatever it can to propagate it’s money towards the wealthier side of the tracks. If you choose not to believe this then feel free to close your eyes, however if you want to see how our nation is being over-run by the corporate elite, check out noagendashow.com. Then maybe you’ll understand Gitmo Nation.

  12. Ameya August 24, 2011 9:16 am at 9:16 am

    Okay so when there is bold text, it doesn’t mean ONLY read the bold. The subsidies it was talking about are tax deductions for mortgage interest and property tax. Have you received tax deductions for that, or anything else house related?
    Why do you think house prices only go up and never down? Gold doesn’t even do that, man.
    Don’t get me wrong, this country is absolutely run by the rich & benefiting them while screwing others over to some degree- though just because it happens in a lot of ways/departments, doesn’t mean every thing is part of this conspiracy. Buying a home in the entire country is a racket, this is in no way a Columbus thing. Where do you think it is any different? My mom’s appraisal some years ago for her house in a suburb of Dayton was 90k, she just wanted to sell it for 60k a few months ago, but surprise! All the better houses around her are going for around 40k now. Talk about getting screwed. A LOT more goes into these things than how much money you put into new siding or something. It has to do with your neighborhood, your city, and the overall economy.
    I know it’s a bit evil of me, but I sure hope prices are down pretty low when it’s time for me to buy a house! Housing in general is ridiculously expensive. Affordable housing is considered paying 30% of your income towards rent/mortgage, but most Americans are burdened or extremely burdened and have to pay more than that, in many cases about 50% of their income for housing- and not just the nice housing, either.
    According to the City of Columbus Consolidated Plan 2010-2014, 32% of all owner-occupied households were cost burdened (more than 30% of income toward mortgage) – including 85.3% of those with incomes between 25-35k a year, and 57.1% of families with incomes between 35-50k a year. 10.1% of home owners pay over 50% of their income to housing payments. I know it’s a pain for people who believed the silly idea that houses are cash mines, but cheaper housing could be a very good thing for the non-wealthy side of the tracks. I don’t understand why everyone wonders why the economy isn’t recovering faster, but you have all these jobs paying below a living wage (8.36$ an hour full time for a single person, or $11.79 for each two working adult sin a family of four) plus over half of people even at those levels would be cost burdened for housing… it’s ridiculous. Then you have to become a wage slave for these banks which will end up getting twice the cost of your house in profit from the interest you’re paying for 30 years.
    I don’t want to go to that website, I already know how the corporate elite run the place. But they are not out to get you personally, you just invested money into something that wouldn’t necessarily give you a good return. I will grant you the government is extremely pro-home ownership & they encourage (and subsidize it) while knowing they are being rather misleading, so feel free to hate on them for that.

  13. botimusPrime August 24, 2011 10:07 am at 10:07 am

    Actually I read the whole article and mostly agree. But if your property rate goes down so should your taxes. Lowering your property and keeping your taxes at the same rate seems like stealing to me. The whole system needs a ‘redo’ to begin with. I purchased my home with no money down back in 2005 because everyone said it was a ‘good deal’ (it will build investment, you have to live somewhere yadda yadda). No one ever indicated the amount of money you need to maintain a house or the work that goes into it. 5 years later I actually learned about what my mortgage was about and it was an ARM. Not one to gamble at all I refinanced with a fix rate because the rates are going to have to go up at some point. At this point I can pay my mortgage and I’ve put a lot into the house but I couldn’t sell it for what I bought it for. That seems odd to me considering all the development that gone into our area to make it a better place. At this point I don’t care if I make money on my house I just want to be able to break even when I choose to sell it.
    I do believe there are interests out to pluck every single extra dollar from our hands. I do not feel our current city government has their priorities straight on some items. The fact they are touting this so much that ‘your house value isn’t going to change much’ raises an eyebrow. Reading between the lines of this article it seems to be prepping us for bad news.
    Encouraging people to buy homes isn’t going to help this economy rebuild. Enforcing regulations for businesses to treat their employees fairly and pay them equally will. Then people can afford the houses they’re in and the economy will return.
     

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