Have you received a Proposed Value Notice with a proposed property value increase?
Every six years, each county in Ohio is required to reappraise all of the real property within its borders – regardless of type (e.g., residential, industrial, commercial) – with updates occurring the third year following each sexennial reappraisal. The schedule for such reappraisals varies across Ohio with the following Ohio counties having sexennial reappraisals in progress in 2024:
| Belmont |
Huron |
Muskingum |
| Brown |
Jefferson |
Ottawa |
| Crawford |
Lake |
Portage |
| Cuyahoga |
Lorain |
Stark |
| Erie |
Lucas |
Warren |
| Fayette |
Morgan |
Williams |
| Highland |
|
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Over the coming weeks, Ohio county auditors will deliver to property owners Proposed Value Notices relative to the property owner’s property. In general, counties in northeast Ohio engaged in the 2024 sexennial reappraisal have reported overall increases in commercial and industrial valuations for 2024. The following list details the increases in valuations in certain counties:
| Cuyahoga County Commercial Parcels: |
8.4% increase |
| Cuyahoga County Industrial Parcels: |
7.1% increase |
| Lake County Commercial Parcels: |
12.5% increase |
| Lake County Industrial Parcels: |
14.2% increase |
| Lorain County Commercial Parcels: |
21.4% increase |
| Lorain County Industrial Parcels: |
21.1% increase |
| Stark County Commercial Parcels: |
9.0% increase (office) |
| |
23.0% increase (retail) |
| Stark County Industrial Parcels: |
54.0% |
The Proposed Value Notices typically set forth guidelines for property owners to informally dispute the values provided in their notices, in advance of the formal review period for which filings can be made from January 1 through March 31 of each calendar year.
The informal review period typically commences shortly after the Proposed Value Notice is received and may involve a property owner mailing in certain information to the applicable county auditor or attending informal in-person or telephone hearings. Each county publishes its procedures with its Proposed Value Notice. Property owners should review such procedures carefully and consider seeking legal advice if there is an interest in disputing the proposed value.
The following table shows sample timeframes for the informal review periods for the four northeast Ohio counties noted above:
| Cuyahoga County: |
All documents supporting the property owner’s informal review request to be received by August 30, 2024. |
| Lake County: |
Informal hearings will start in late August 2024. |
| Lorain County: |
Property owners can attend meetings set forth in the Proposed Value Notice and can also schedule an informal review appointment. Walk-in appointments are permitted, but not recommended. Informal hearing period ends on September 30, 2024. |
| Stark County: |
Informal review submission deadline is September 25, 2024. |
The guidelines for informal complaints to dispute the values provided in Proposed Value Notices identify the types of evidence that can be submitted, and may include the following:
- Appraisal report completed within the past 12 months
- Income and expense statements for the last three years
- Copy of IRS Form – Schedule E
- Purchase agreement and closing statement
- Certified estimates from a contractor for repairs cited as a reason for a change in value.
Property owners with property in any of the counties affected by the 2024 sexennial reappraisal should carefully review the Proposed Valuation Notices received from their county auditor and consider pursuing the informal review process permitted by each county. If a property owner declines to pursue this process, the more formal annual review process conducted by each county’s Board of Revision may be pursued between January 1, 2025, and March 31, 2025.
If you are interested in discussing your options regarding disputing a proposed value or pursuing a more formal review before your county’s Board of Revisions, please feel free to contact any of the Calfee lawyers listed below who can assist you with this important matter.
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