THE APPRAISAL PROCESSJILL THOMPSON, ATHENS COUNTY AUDITOR BOB DRAIN, SOUTHEAST OHIO MANAGER, TYLER TECHNOLOGIES, INC.

TIMELINESTHE APPRAISAL PROCESS

THE REAPPRAISAL PROCESS

• Market values change over time as properties are bought and sold

• Ohio law requires the tax commissioner to order a reappraisal of all real property in each county once in each six-year period (ORC

• The reappraisal contract must be approved by the tax commissioner prior to beginning any work.

• The steps and timelines may vary slightly from county to county.

• www.yourhomeyourvalue.org

Collection Analysis Setting Feedback Review Finalization

COLLECTION

• An appraiser will physically visit each home in the county.

• Appraisal firm approved for mass appraisal by the Ohio Tax Commissioner that contracts with the County Auditor, or Appraisers employed by the County Auditor

• Appraisers attempt to make contact with every home owner in person or by mail (Door tag)

• Project manager is required to meet a certification requirement by the Ohio Department of Taxation

• Approximately 2-year process to visit each parcel

• Collect Property Characteristics:

• Land• Size

• type

• Improvements (Buildings)• Size

• Age

• Type

• Quality

• Condition

• Room Count

• Other

ANALYSIS

• The County Auditor’s office takes great care to ensure that the property information is correct and that each property is assessed in a fair and uniform manner.

• Neighborhood boundaries are established and historic trends and actual sales from the previous three years are considered to determine the estimated fair market value of each property.

• Consideration is made for sales leading up to submission of the Tentative Abstract.

SETTING

• The estimated fair market value is used as the gauge when valuing property and setting the appraisal.

• Fair market value is defined as the most probable price each property would be estimated to sell for in an open market between a willing buyer and a willing seller, neither being under any pressure to buy or sell, and all parties having full knowledge of all relevant facts about the property, and with financing that is available to the general public. (Land contracts are not included)

• Second Monday in June the Tentative Abstract Must be filed with the Ohio Tax Commissioner (OAC 5703-25-16)

FEEDBACK

• When the County Auditor announces the completion of the property valuations, notices are sent to property owners and all records are made available for public inspection.

• Property owners that have questions or concerns about their valuation have the opportunity to arrange a face-to-face meeting with a county representative to discuss their valuation. Property owners should submit documentation for any requested changes.

• Appraisers will review all information provided by the property owner, up to and including a re-visit to the property.

REVIEW

• Once the feedback stage is complete, the valuations are sent to the state for review and validation. The Ohio Tax Commissioner must sign off on the reappraisal values to ensure that the values are fair, correct and follow accurate trends across each county.

• The Final Abstract is submitted to the State for approval. (OAC 5703-25-16)

• The Tax Commissioner has the authority to request that each county modify the values.

FINALIZATION

• The County Auditor will receive the confirmation of approval of the Final Abstract from the State.

• The property valuations are complete and records are made available for public inspection.

• The auditor shall advertise the completion of the reappraisal in a newspaper of general circulation (ORC § 5713.01)

THE TRIENNIAL UPDATE PROCESS

• Ohio law requires the tax commissioner to order a triennial update of all real property on the third year following the reappraisal. (ORC

• The Triennial contract must also be approved by the tax commissioner prior to beginning any work.

• The steps and timelines may vary slightly from county to county and are not the same as a reappraisal.

• Based on Sales Ratio studies and there is not a physical inspection of every property.

• Values are adjusted by a percentage based on sales trends by neighborhood.

• There is considerably less opportunity for feedback in the Triennial Update Process.

THE PROCESS

Sales Ratio Study – Initial

Review

Validate Sales – Review Outliers

Calibrate Cost and Land to Market

Final Review of the Sales

Ratio Study

Finalization – Submit to Department

of Sales

HOW SCHOOLS CAN BE INVOLVEDTHE APPRAISAL PROCESS

TIMING IS EVERYTHING – BE INVOLVED

• Be sure and have open communication lines with the auditor throughout the appraisal process (2-3 year process)

• Learn who in the office can provide the types of information you are interested in

• Be familiar with the dates of your county’s reappraisal and update

• Provide information to the Auditor that may be helpful throughout the reappraisal process in a timely manner

• Stay in touch with the office and “check-in” throughout the process

• Review the valuation adjustments for your district prior to the tentative and final abstract submission

• Large variances should come with reasonable explanations

• Don’t wait until the reappraisal is complete to raise a concern about property values in your district

WHEN DATA CAN BE DISCUSSEDTHE APPRAISAL PROCESS

TIMELINES AND COMMUNICATIONAnalysis

Be sure that the auditor is aware of any invalid sales or special circumstances surrounding sales over the previous three years

Setting• A

sk to see the Tentative Abstract prior to it being submitted to the State. Don’t hesitate to ask questions.

Review

Request to review the final abstract prior to it being submitted to the State. Review the variations from the Tentative.

Finalization• D

iscuss any sales that may have taken place after the final abstract has been approved that appear inconsistent with the final appraisal.

QUESTIONS?

Jill ThompsonAthens County Auditor15 S. Court Street, Room 330Athens, Ohio 45701(740) 592-3225jthompson@athensoh.org

Bob DrainTyler Technologies, Inc.4100 Miller Valentine CtMoraine, Ohio 45439(740) 441-5708robert.drain@tylertech.com

Thank you!