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Summit homeowners get answers to questions about countywide process
By Rick Armon
Beacon Journal staff writer
Published on Sunday, Sep 14, 2008
Summit County is in the process of reappraising property values. Letters were sent out to more than 150,000 homeowners last month, notifying them about the new values, prompting many questions.
Here are some of the most common questions from homeowners about the process:
Q: What is a reappraisal?
A: It's a methodical review of every property within the county for the purpose of setting market value.
The state requires all 88 counties to conduct a reappraisal every six years. County appraisers visit each property — they don't go inside — and look for improvements or changes, and then calculate new values.
Every three years, counties also update property values by examining homes sales.
Q: What did appraisers find this year?
A: Overall, residential and agricultural property value dropped
by 1 percent in Summit.
About 60 percent of homeowners saw their values remain the same or decline, while 40 percent had an increase.
Statewide, 41 counties are conducting full reappraisals or three-year updates this year.
Summit had the largest decline in value in the state. The only other county to experience a decline was Franklin at 0.15 percent, according to the Ohio Department of Taxation.
Other urban counties: Butler (Hamilton), 5.95 percent increase; Mahoning (Youngstown), 0.09 percent increase; and Montgomery (Dayton), 0.24 percent increase.
Q: Which communities saw the biggest increases and biggest declines?
A: Neighborhoods in Peninsula, Reminderville, Silver Lake and Hudson had some of the largest increases.
Certain areas of Akron, Barberton, Cuyahoga Falls and Lakemore saw some of the largest decreases.
Q: How do appraisers calculate property value?
A: They collect data about properties; define neighborhoods; go out in the field and set values; then test the values using sales ratio studies.
Neighborhoods can consist of large areas down to a single block. When they examine home sales, the appraisers also focus only on ''arm's-length sales.''
Using mathematical models and formulas for individual neighborhoods, appraisers take into account the front footage; acreage; square footage of the building; age and condition of the building; home amenities; and other factors.
The state oversees the process to ensure the fairness.
Q: What's an arm's-length sale?
A: A normal sale between a willing buyer and seller that is made without pressure or duress. The property also has been exposed to the open market.
Foreclosures and selling your house to a relative for $1 aren't normal sales and those aren't included in calculations.
The state will not permit counties to include foreclosure sales.
Q: Are mistakes made?
A: Yes — both clerical errors and errors in judgment.
''Mistakes are inevitable,'' said John Kohlstrand, a spokesman for the Department of Taxation. ''Perfection is an elusive goal. It really does come down to the individual property owner taking a look at that property value and seeing if it makes sense.''
Q: About 40 percent of homeowners saw an increase in value. How could any property value increase given the depressed housing market in Ohio and nationwide?
A: The majority of residential properties in Summit reflected state and national trends and saw a decrease or stagnant values. But there are neighborhoods where values increased because of documented sales.
Also, the reappraisal process doesn't consider the asking price — just the sale price.
Q: Does the 1 percent decline countywide mean people will be paying less in property taxes?
A: In general, the lower the property value, the less a homeowner is paying in taxes. But there are plenty of variables.
The state hasn't certified the tax rate in the county for next year yet, so there's no way to know for sure.
Also, levies determine how much you pay in taxes. For example, your property value may decline this year, but a levy may pass this November that collects more taxes.
Q: When does this reappraisal take effect for tax purposes?
A: The appraisal values are effective Jan. 1, 2008, and are billable in 2009.
Q: What's the difference between appraised value and market value?
A: Market value is the most probable price that a property should bring in an open market.
Appraised value and market value are close to being one and the same. Appraised value is used for tax assessment purposes.
Q: Why did my land value increase so much?
A: The overall property value consists of land and building value.
The Summit County Fiscal Office determined that land values had been too low in many cases and adjusted them in relation to the total value of the property.
In many, but not all, cases, the building accounts for about 80 percent of the total value. There are plenty of exceptions and variables, though, such as lot size and where the property is located.
Taxpayers should focus on the total value and not the land vs. building, since sales involve both, appraisers said.
Q: Senior citizens are receiving the new homestead exemption this year. Did appraisers inflate property values to make up for the loss of that revenue?
A: ''No. Absolutely not,'' said Ray Valle, Summit County deputy fiscal officer.
Ohio reimburses counties for the loss of homestead revenue, so there would be no incentive for appraisers to make adjustments with the state-funded homestead exemption program in mind.
Q: If I think my property value is too high or too low, how do I make a complaint?
A: Informal complaints can be made to the Fiscal Office by calling 330-643-2710 or e-mailing newvalue@summitoh.net.
The county also is holding public forums where people can sit down with an appraiser and ask questions. The forums are from 10 a.m. to 8 p.m. Monday through Thursday this week at the Polish American Club at Glenwood Avenue and Dan Street in Akron.
They're also scheduled from 10 a.m. to 8 p.m. Sept. 22-25 and Sept. 29-Oct. 1 at the Chenoweth Golf Course banquet hall, 3087 Chenoweth Road, Green.
Q: What happens after I complain?
A: Appraisals will review and, if necessary, re-evaluate the property. The homeowner will be notified by mail about the county's findings.
''We're going to hand review every single complaint that comes to our office,'' Fiscal Officer John Donofrio said.
Q: What happens if I'm not satisfied with the county's response?
A: Taxpayers can file a formal complaint with the county Board of Revision next year. The board is made up of three members: the county fiscal officer, county executive and clerk of courts. Formal complaints must be filed by March 31.
Q: The county made a mistake in my real-estate listing. (For example, a finished basement isn't listed or not enough bathrooms are listed.) Do I need to correct it?
A: Yes. County workers want records to be accurate. Also, the county can go back and assess you for five years' worth of taxes if they find a major structure omitted, such as a house or addition.
Rick Armon can be reached at 330-996-3569 or rarmon@thebeaconjournal.com.
Summit County is in the process of reappraising property values. Letters were sent out to more than 150,000 homeowners last month, notifying them about the new values, prompting many questions.
Get the full article here.
Comments
Click here to post your comments
akron, oh
Posted 08:55 AM, 09/14/2008
Lucy You got lots of splaining to do....
Posted 10:30 AM, 09/14/2008
Q: Why did my value go up while several of my neighbors, living in comparable homes, had their value go down?
Akron, OH
Posted 03:30 PM, 12/31/2008
How do i find what the appriasal of the home at 725 E. Glenwood (Blv. or Av.?) Akron, Ohio,44310
Also how do I get the property line of this home?
If this is the wrong place to post these questions, please let me know where to go.
Than you;
1suzylucalocka@sbcglobal.net
