COLUMBUS, Ohio (WCMH) — Franklin County homeowners can now view their tentative property value from this year’s mass reappraisal, the county auditor announced on Tuesday.

The state-required reappraisal process updating every property in the county has released the new proposed values on the Know Your Home Value website. A notification including the new tentative values will also be mailed to property owners later this month.

Average Franklin County property value increases broken down by school district. (Courtesy Graphic/Franklin County Auditor’s Office)

“Franklin County property owners are encouraged to look at the proposed values and reflect if they sold their property today, would the proposed value be aligned with what they would seek from a new buyer,” said county Auditor Michael Stinziano.

Residential values increased by an average of 41%, according to Stinziano’s office. Broken down by school district, the increases range from a 17% increase for Grandview Heights to a 70% increase for Hamilton Local School District.

Canal Winchester and Licking Heights can expect an increase of 47%, Columbus City Schools a 48% increase, Reynoldsburg a 50% increase, Groveport Madison a 61% increase and Whitehall a 68% increase.

How will the increase impact taxes?

Property taxes are calculated by multiplying the taxable value of a home (35% of the assessed value set by the county auditor) times the effective tax rate designated by the home’s district. The primary variable in the equation is the district’s tax rate that varies across central Ohio based on ballot box issues, like school levies. 

So, it is not a one-to-one ratio: A 41% rise in property value does not equate to a 41% increase in taxes, the auditor’s office said.

Counties are required to reappraise real estate every six years — the process underway in Franklin County — and update their values every three years. Along with Franklin County, Delaware, Licking and Pickaway counties are completing reappraisals in 2023. Ashland, Athens, Knox, Madison and Noble counties are updating.

The reappraisal process is much more intensive, while a three-year update only assesses home sale data. Stinziano’s office noted Franklin’s County’s last update in 2020 increased values roughly 20%, leading to a tax increase of about 7.8%.

How to contest your property’s proposed value

Homeowners who feel their new value is incorrect can schedule a “Property Value Review,” where they can meet with appraisers and explain their opinion of the property value, Stinziano said. Appointments can be scheduled online here, and can be virtual or in-person at multiple locations across the county. 

“I strongly encourage any homeowner who feels the value is inaccurate to schedule a Property Value Review, where they can work with the auditor’s office to share information as to why a change may be appropriate,” Stinziano said.

Owners who disagree with the assigned value can meet with the auditor’s office through September before property values are set in December. The site is also home to answers to frequently asked questions and the ability to compare your property’s value with others in the neighborhood, municipality, across the county and the state.