Property values released by Auditor’s Office

Lake County Auditor Edward H. Zupancic announced that new 2018 reappraisal property value notices should start arriving in mailboxes Aug. 29.

According to a news release, the new values will not be available on the Internet, as they are considered tentative until certified by the Ohio Department of Taxation for tax rate calculation later in the year.

All properties will receive a notice of value regardless of a change in value or not due to the reappraisal, the release stated. The purpose of sending notices is to allow all property owners an opportunity to review their data and valuation. This process also

allows clerical or data inaccuracies to be corrected prior to the values becoming final with the state.

The 2018 reappraisal was a full reappraisal of all property in the county, with each parcel viewed and valued on its individual merits. The Auditor’s Office does not set market values; it only adjusts tax appraisals to accurately reflect what is happening in the real estate market. Values are determined by the market friction between buyers and sellers.

The goal was to set property values as close to sales prices as possible.

“Trends in the market are picking up,” said Scott Yamamoto, chief deputy of real estate with the county Auditor’s Office. “Most of the county has not had a value change since 2012, (which is) based on 2010-11 (sales).”

All CAUV values were updated as required by the Ohio Department of Taxation. Those owners on the Current Agricultural Use Value program will receive their new CAUV values on their value notice. For information regarding how CAUV values are calculated, visit www.tax.ohio.gov/real_ property/cauv.aspx.

Would you like to discuss your valuation?

Property owners will also have the opportunity to use the online system to provide feedback to the Auditor’s Office regarding their property values. Instructions for using the online system will be detailed on the value notices. The auditor notes that it is preferred that owners use the online system to provide their feedback. The online feedback system is now running 24/7 until 4:30 p.m. on Sept. 28, the office confirmed.

“This provides a nice alternative because of its flexibility,” Yamamoto said of the online system. “We started this back in 2016 and it gives us a lot to go on. However, we certainly will accommodate anyone who wishes to come to the office.”

In-person informal reviews, if necessary, will be by appointment only Sept. 10-14 (8 a.m. to 4:30 p.m.), Sept. 15 (8 a.m. to noon) and Sept. 17-21 (8 a.m. to 4:30 p.m.).

The appraisal contractor Tyler Technologies is managing informal reviews. Contact information will be listed on the notices. Walk-ins are discouraged due to the volume of inquiries anticipated.

If an owner did not receive a notice, they may call the Auditor’s Office to receive their information, the release stated. Owners wishing to dispute value should provide a copy of:

• A recent purchase contract (within 24 months)

• A recent appraisal (within 24 months), or other information, that will provide valuation evidence.

Those without an appraisal or recent sale wishing to dispute their value should, at a minimum, provide three recent comparable sales (within 24 months) of properties that are comparable in size, age, style, condition and location. Photos are preferred.

Anyone wishing to provide feedback but is unable to do so before the Oct. 28 deadline may file a formal appeal between Jan. 1 and April 1, 2019. The requisite form will be available on the Lake County Auditor’s website only during the filing period. No extensions of any deadlines will be offered.