As central Ohio home values rise, so do property taxes


FAIRFIELD COUNTY, Ohio — There are a lot of great reasons to own a home.

Owning is often better than renting, it's an asset you can sell and hopefully make money on, and there's privacy by owning your own home. But there are also property taxes.

Every 6 years in Ohio, auditors across the state are required by law to assess the value of homes.

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Homeowners in Fairfield County are getting letters this week saying their homes are worth on average 20% more.

That may be great news if you're looking to see, but for some, it's a sticker shock they didn't expect.

"It went up about $33,000 from $178,000 to $211,000," says Ryan Noftz of Pickerington.

Todd Jamrose's home valuation was more.

"I don't understand how a house can go up to $50,000 in one year," he said.

He disputes the claim and has come up with a solution before he has to pay.

"Oh, I'm definitely thinking about moving, 100 percent," he said.

The neighborhood the Villages at Sycamore Creek is like many in Fairfield county — home prices are going up.

"Houses go up for sale quite a bit and they're off the market with 24 hours," says Noftz.

According to the Fairfield County Auditor, the average home in the county increased by 20%. That may be great if your selling, but if you plan to stay, not everyone is happy about it.

"My biggest concern is the amount of taxes I owe in one year, says Jamrose.

Auditors assess the value to the home based on three criteria: Physical characteristics such as age and condition of the home, recent sales of properties and location.

Essentially, what would it cost to build your home today?

Noftz says the increased value of his home won't force him to move, but he understands not everyone is as fortunate.

"But if you're living paycheck to paycheck, this could be a burden on a lot of families," he says,

If you want to contest the value of your home.. you need to state your case before the Board of Revision starting in January.

You can pay to have your own assessment done if you think the auditor got it wrong.

Those on fixed incomes can apply for the homestead exemption which can lower the value of your home.

What Causes Changes in Valuation?

The primary objective of a reappraisal is to adjust and equalize property values to reflect changes in the marketplace since the last valuation event. Since property values do not change uniformly, some values will go up, some stay the same and some will have gone down since the 2016 Triennial Update.

Other factors besides variations in market value may cause a change in valuation. One such factor may be an alteration or change in the property, such as new construction not previously reported: new siding, buildings added or removed, interior finish added to basement or garage, new pole building constructed, etc.

A change in property use might also dictate a change in valuation; for example, a property use change from residential to commercial.

What is the Assessed Value?

The assessed value on real estate is set at 35% of the market value by the Tax Commissioner of the State of Ohio.