Ohio Real Estate Tax Valuation Adjustments

ReCon Update

Date: January 23, 2013

Overview

Challenging the tax valuation of real estate located in Ohio is an effective way to bring down the cost of owning or leasing property, and clients should consider doing so for properties where the tax values exceed market values.

Sexennial Reappraisals and Triennial Adjustments

Ohio law requires that all properties be reappraised every six years and updated every three years. As of January 1, 2012, properties in 19 Ohio counties were reappraised and properties in five counties were updated. These tax adjustments are reflected in the tax bills first received in December 2012. The following Ohio counties are subject to the sexennial reappraisal and triennial update:

Counties subject to sexennial reappraisal as of January 1, 2012:

  • Belmont, Brown, Crawford, Cuyahoga, Erie, Fayette, Highland, Huron, Jefferson, Lake, Lorain, Lucas, Morgan, Muskingum, Ottawa, Portage, Stark, Warren and Williams.

Counties subject to triennial update as of January 1, 2012:

  • Allen, Coshocton, Guernsey, Sandusky and Vinton.
Deadline to File Valuation Complaint

The deadline to file a valuation complaint for tax year 2012 is March 31, 2013. Valuation complaints for tax year 2012 may be filed in all counties and are not limited to those counties subject to the sexennial reappraisal and triennial update. The valuation complaint may be filed only one time in each three-year interim period (subject to certain exceptions), so it is recommended complaints be filed in the first year of each adjustment period.

Thompson Hine LLP represents owners of commercial property in real estate tax challenges throughout Ohio and provides counsel on strategies for future valuation reductions.