Ohio Revised Code Section 5715.33 (Sexennial reappraisal – reassessment of improperly assessed property.) The tax commissioner shall order a reappraisal of all real property in each county once in each six-year period. The commissioner may order the commencement of any sexennial reappraisal in sufficient time for the county auditor to complete the reappraisal as required by section 5713.01 of the Revised Code. The commissioner may order a reassessment of the real property or any class thereof in any taxing district or subdivision thereof in the third calendar year following the year in which a sexennial reappraisal is completed if in his opinion such property has been unequally or improperly assessed, so that all classes of property in such district shall be assessed in compliance with law.
As Chief Assessor, the County Auditor is required by Ohio Revised Code to set a fair market value on all real property parcels in the county for taxing purposes. State Law requires the entire county to be appraised and every parcel visited every six years during a sexiennial reappraisal. Coshocton County is scheduled for a county-wide reappraisal in tax year 2021, payable in 2022.
- Status update points, so far:
- 1/10/19 – Tax Commissioner ordered the initiation of the reappraisal for tax year 2021
- 3/18/19 – Completed Requests for Proposals (RFPs) were mailed to five state-approved appraisal firms with an April 18th bid due date
- 5/29/19 – Bid from John H. Cleminshaw, Inc. accepted; all participating appraisal firms notified.
- 8/14/19 – Appraisers beginning data collection, starting with the City of Coshocton.
Understanding the Valuation Process
Because market values change over time as properties are bought and sold, Ohio law requires that each home in the state go through an appraisal process every six years (a sexennial). In addition, every three years (triennial), the appraisal is updated. There are six major steps of the valuation process. While these steps may vary slightly from county to county, these are generally reflective of the steps that all counties follow.
With appraisals that happen every six years, state registered appraisers physically visit each home in the county to update property characteristics like dwelling type, age, condition, number of rooms.
The county auditor’s office takes great care to ensure that property information is correct and that each property is assessed in a fair and uniform manner.
- Setting Value
The estimated fair market value is used as the gauge when valuing property and setting the appraisal.
Notices of value are provided to homeowners who have the opportunity to provide feedback and have questions and concerns addressed.
Once the valuations go through the feedback process, they are sent to the state for review and validation. This is yet another step in the process to ensure that valuations are fair, correct and follow accurate trends across each county
When the county auditor announces the completion of property valuations, all records are made available for public inspection.
How does valuation impact my taxes?
Due to recent levies now taking effect, property owners may notice changes in their bill.
There are two components that make up a property tax bill:
- The first component includes the various tax rates, which are set by taxing authorities, such as school districts, park districts, townships, villages and city councils. If they are existing levies, the tax rate may be adjusted downward by the Ohio Department of Taxation to assure taxing authorities are not collecting more revenues than intended from the original voter-approved levy.
- The second component is the assessed value of one’s property.
A third component may include special assessments submitted from municipalities, townships and counties.