Ohio Law required a mass physical reappraisal of all real property in Hamilton County in 2005. The law also requires a value adjustment to be completed three years subsequent to that mass reappraisal. This triennial update will be for tax year 2008, payable in 2009. The purpose of the triennial update is to determine the change in market value in each neighborhood of the county through analysis of real estate sales for the three (3) years prior to the year of the update. The main objective is to update the six year mass reappraisal so that the values change gradually with a mid-cycle update. We will be reviewing and analyzing all 2005, 2006, and 2007 property sales in your neighborhood. This overall analysis will assist us in determining your value. In late December of 2008 all property owners in Hamilton County will receive notice from the Auditor informing them of their 2008 final market value. If you feel that the value is incorrect, you will have the option of filing a formal complaint with the Hamilton County Board of Revision between January 1 and March 31 2009.
Again, Ohio Law requires counties to revalue all real property every three years and, as previously mentioned, the next triennial update will occur in 2008, while the mass reappraisal will be in 2011. The only changes to a property's value outside of the three year cycle would be due to
- physical changes to the property (improvements such as the addition of a deck, porch, patio, swimming pool, central air conditioning or new construction)
- demolition of an existing structure or improvement (i.e., removal of deck, demolition of garage)
- A decision by the Hamilton County Board of Revision to change a value based on a complaint filed by the property owner or a school district
- A decision by the Board of Tax Appeals or the Court of Common Pleas to change a value based on a complaint filed by the property owner or a school district
The Real Estate Valuation Department is then responsible for valuing any property for which a building permit was issued, or an appeal has been filed, or any property involving a land split/boundary survey. The bulk of this work is handled by staff appraisers who inspect the property and then develop a value by accepted appraisal standard and methods.
New Construction: duties include
- Review of permits received in the Real Estate Valuation Department
- Review of parcel land splits and boundary surveys accepted by the Engineer's Department
- Inspection of the properties
- Assessing value of new construction
- Assessing value for new land configuration
- Adding property's new description to a permanent file
Board of Revision / Appraisal: duties include
- Review of appeals filed with the Board of Revision
- Inspection of the properties
- Examining area sales and other necessary data
- Formulating an analysis and written report of value
- Presenting a report before the Board of Revision, where final value determination is made