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Thursday, May 28, 2020

Valuations Update - Franklin County

Franklin County Auditor moving ahead with property reappraisal despite coronavirus

Earlier this week, we learned that the State of Ohio had denied requests from several Ohio County Auditor’s, including Franklin County, to delay the Sexennial Reappraisal or the Triennial Update (Property Valuation Update).

Under state law and Department of Taxation rules, real property in all counties is reappraised every six years and property values are updated in the third year following each sexennial reappraisal. Currently there are forty-two counties in Ohio which fall under the 2020 three year update or sexennial reappraisal, including five Counties in Central Ohio (Delaware, Franklin, Licking, Madison & Morrow). The requests to delay were based on COVID-19 related economic uncertainties, a rising unemployment rate and unpredictability among residential and commercial property owners.

His request denied, Franklin County Auditor Michael Stinziano is moving ahead with the triennial update of property values, even though he believes more time would have been helpful for residents and the process. 

Columbus REALTORS® conducted a Government Affairs Forum today with Auditor Stinizano to discuss the Triennial Update, among other issues. Following is information from today's presentation.

  • The new due date for the 2nd half property tax collection is 8/5/20. Bills will be processed on 6/8/20 and should be mailed by 6/18/20.
  • The FCAO is looking at the following tentative increased value changes across based on past three year data (County Wide Averages):
    • Residential Class - +20.32% 
    • Commercial Class - +15.35%
    • Industrial Class - +16.94%
    • Exempt Class - +14.27%
  • Franklin County's Triennial Timeline is as follows:
    • August 2020 - Tentative Value Mailer goes out to residents
    • September 2020 - FCAO holds Informal Review Sessions
    • October 2020 - FCAO prepares final abstract of values
    • November 2020 - FCAO submits final abstract to the Ohio Department of Taxation
    • December 2020 - Final values are approved by the state. Tax bills are issued and FCAO sends Final Value Mailer
      to residents.

View the slide deck from Auditor Stinziano's presentation. 

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