If you think your home’s appraised value is higher than your home can sell, then your best bet is to dispute the value. The first thing to understand is that property taxes are one of the largest sources of income for your municipality, county, and state government. Tax assessments are made up of two components, including: the value of your land and also your home. The revised Ohio code and Ohio administrative code require the appraisal department to conduct a new appraisal of each parcel every six years, or an update every three years if home improvements were made based on building permits. removed from your property. Understanding how to dispute the appraised value of your home is critical to winning your appeal. You will need to consider many factors to determine the fair value of your home. The auditor will analyze the acreage, age of your home, square footage, recent improvements, outbuildings, decks or patios, and / or other areas of your property that have value.
To appeal your property tax assessment, you must contact your local county auditor to file a formal appeal of your property’s assessed value. You should start by requesting a copy of the ownership card at the local auditor’s office. The property card should include the information used to determine your home’s appraised value, including: square footage, lot size, bedrooms, bathrooms, finished basement, etc. If there are any inaccuracies in this information, you must inform the auditor’s office in writing of the errors. You should also contact your local auditor’s office to complete an appeal form or you can file an appeal electronically on their website. Electronic filing gives homeowners easy access to complete and submit a tax department form, which is an online real estate appraisal complaint that removes the requirement for a signature and notarial stamp. Many of Ohio County’s auditors will only accept property appraisal appeals during the first three months of the year. If you have recently purchased your home, you must provide the auditor with a copy of your purchase contract and a copy of your HUD statement or closing disclosure as evidence of your property’s value. If you have owned your home for more than a year, you may want to contact a licensed appraiser to have your home appraised and valued. In addition to the appraisal, it would be beneficial to provide a list of recently sold homes in your area that are similar in age, square footage, amenities, and lot size to your own home. You must provide as much information and documentation as possible when appealing your property taxes. When referring to your property, use your parcel number and address. You can get it on your tax bill. The more information you provide to the auditor, the greater the chances that your assessed value will be reduced, but be careful because the information you provide may be used by the review board to increase or decrease the total value of any package included in a complaint.