As you finish up year end accounting, plan, and budget for the coming year don’t forget to check your Real Estate Tax Bill. Property taxes are one of the largest operating expenses of owning real estate. This expense can be and should be actively managed. Assessments are based on the value of the property on January 1st. Taxes based on this assessment date are payable the following year. For example, the assessed value on January 1, 2013 will be the basis for which taxes will be paid in 2014. If the value of your property is less than the County’s assessed value, you should consider filing an appeal.
The initial task for any tax assessment appeal is extremely easy to accomplish but rarely happens. It is simply to file the paperwork on time since there is a statutory appeal deadline for every jurisdiction. ALL OHIO APPEALS MUST BE FILED PRIOR TO MARCH 31st each year. The process is different in Kentucky. Please contact us or see future Logix Insight newsletters for the proper procedure in Kentucky.
Review your assessment carefully to see if your taxes are TOO HIGH.
The following is the appraisal schedule for several Ohio counties.
Ohio Counties
| County | Prior Appraisal/Update | General Re-Appraisal | Triennial Appraisal |
|---|---|---|---|
| Butler | 2011 | 2014 | 2017 |
| Clermont | 2011 | 2014 | 2017 |
| Greene | 2011 | 2014 | 2017 |
| Hamilton | 2011 | 2017 | 2014 |
| Miami | 2010 | 2013 | 2016 |
| Montgomery | 2011 | 2014 | 2017 |
| Warren | 2012 | 2018 | 2015 |
| Franklin | 2011 | 2017 | 2014 |
| Champaign | 2010 | 2013 | 2016 |
| Clark | 2010 | 2013 | 2016 |
| Logan | 2010 | 2013 | 2016 |
| Darke | 2011 | 2017 | 2014 |
| Shelby | 2011 | 2017 | 2014 |
| Clinton | 2011 | 2017 | 2014 |
| Union | 2010 | 2013 | 2016 |
| Madison | 2011 | 2014 | 2017 |
| Delaware | 2011 | 2017 | 2014 |
Kentucky Counties
*All Northern KY Counties assess/value real estate every 4 years by quadrant.
If your property is subject to a general reappraisal, a triennial appraisal or if after you see your tax bill you feel you are being over assessed, you should consider filing a tax appeal. But before you file, have an analysis or appraisal completed prior to filing an appeal as Ohio generally only allows an appeal to be filed once during each triennial cycle. The exceptions to file more than once in this triennial period are after; an arm’s length sale of the property, a change in occupancy by at least 15% that had a substantial economic impact on the property, a substantial improvement was added to the property, or the property lost value due to causality.
If you need further information regarding the real estate tax appeal process or are interested in filing a tax complaint, please contact Steve Weis in our Dayton office at (937) 886-5068, or via e-mail at steve.weis@logix-realestate.com Steve Weis is a highly qualified appraiser specializing in tax appeal and condemnation appraisal cases and can provide expert witness testimony as to the value of your property.