Jill Thompson Athens County Auditor Bob Drain Southeast Ohio Manager Tyler Technologies Inc Timelines The Appraisal Process The REAPPRAISAL process Market values change over time as properties are bought and sold ID: 498591
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Slide1
The Appraisal Process
Jill Thompson, Athens County Auditor
Bob Drain, Southeast Ohio Manager, Tyler Technologies, Inc. Slide2
Timelines
The Appraisal ProcessSlide3
The REAPPRAISAL process
Market values change over time as properties are bought and sold
Ohio law requires the tax commissioner to order a reappraisal of all real property in each county once in each six-year period (ORC
The reappraisal contract must be approved by the tax commissioner prior to beginning any work.
The steps and timelines may vary slightly from county to county.
www.yourhomeyourvalue.org
Slide4
Collection
An appraiser will physically visit each home in the county.
Appraisal firm
approved for mass appraisal by the Ohio Tax Commissioner that contracts with the County Auditor, or
Appraisers
employed by the County AuditorAppraisers attempt to make contact with every home owner in person or by mail (Door tag)Project manager is required to meet a certification requirement by the Ohio Department of TaxationApproximately 2-year process to visit each parcel
Collect Property Characteristics:LandSize
type
Improvements (Buildings)
Size
Age
Type
Quality
Condition
Room Count
OtherSlide5
Analysis
The County Auditor’s office takes great care to ensure that the property information is correct and that each property is assessed in a fair and uniform manner.
Neighborhood boundaries are established and historic trends and actual sales from the previous three years are considered to determine the estimated fair market value of each property.
Consideration is made for sales leading up to submission of the Tentative Abstract.Slide6
Setting
The estimated fair market value is used as the gauge when valuing property and setting the appraisal.
Fair market value is defined as the most probable price each property would be estimated to sell for in an open market between a willing buyer and a willing seller, neither being under any pressure to buy or sell, and all parties having full knowledge of all relevant facts about the property, and with financing that is available to the general public. (Land contracts are not included)
Second Monday in June the Tentative Abstract Must be filed with the Ohio Tax Commissioner (OAC 5703-25-16)Slide7
Feedback
When the County Auditor announces the completion of the property valuations, notices are sent
to property
owners and all records are made available for public inspection.
Property owners that have questions or concerns about their valuation have the opportunity to arrange a face-to-face meeting with a county representative to discuss their valuation. Property owners should submit documentation for any requested changes.
Appraisers will review all information provided by the property owner, up to and including a re-visit to the property.Slide8
Review
Once the feedback stage is complete, the valuations are sent to the state for review and validation. The Ohio Tax Commissioner must sign off on the reappraisal values to ensure that the values are fair, correct and follow accurate trends across each county.
The Final Abstract is submitted to the State for approval. (OAC 5703-25-16)
The Tax Commissioner has the authority to request that each county modify the values.Slide9
Finalization
The County Auditor will receive the confirmation of approval of the Final Abstract from the State.
The property valuations are complete and records are made available for public inspection.
The auditor shall advertise the completion of the reappraisal in a newspaper of general circulation (ORC § 5713.01)Slide10
The Triennial Update process
Ohio law requires the tax commissioner to order a triennial update of all real property on the third year following the reappraisal. (ORC
The Triennial contract must also be approved by the tax commissioner prior to beginning any work.
The steps and timelines may vary slightly from county to county
and are not the same as a reappraisal. Based on Sales Ratio studies and there is not a physical inspection of every property.
Values are adjusted by a percentage based on sales trends by neighborhood.There is considerably less opportunity for feedback in the Triennial Update Process.
Slide11
The processSlide12
How Schools can be involved
The Appraisal ProcessSlide13
Timing is everything – Be Involved
Be sure and have open communication lines with the auditor throughout the appraisal process (2-3 year process)
Learn who in the office can provide the types of information you are interested in
Be familiar with the dates of your county’s reappraisal and update
Provide information to the Auditor that may be helpful throughout the reappraisal process
in a timely mannerStay in touch with the office and “check-in” throughout the processReview the valuation adjustments for your district prior to the tentative and final abstract submission Large variances should come with reasonable explanations
Don’t wait until the reappraisal is complete to raise a concern about property values in your districtSlide14
When Data can be discussed
The Appraisal ProcessSlide15
Timelines and CommunicationSlide16
Questions?
Jill Thompson
Athens County Auditor
15 S. Court Street, Room 330
Athens, Ohio 45701
(740) 592-3225jthompson@athensoh.orgBob Drain
Tyler Technologies, Inc.4100 Miller Valentine CtMoraine, Ohio 45439(740) 441-5708
robert.drain@tylertech.com
Thank you!