Ohio Administrative Code › Title 5703 - Department of Taxation › Chapter 5703-25 - Equalization - Appraisals › Section 5703-25-16 - Procedure after reappraisal or update

Current through all regulations passed and filed through July 1, 2024
(A) Procedure after sexennial reappraisal:
(1) After the appraisal is completed the
			 county auditor will total the "true value in money" of land, building
			 and total of agricultural, industrial, commercial and residential property in
			 each taxing district, and will prepare and file an abstract of these true values
			 with the department of taxation, which abstract 
									is to be
			 considered as a tentative abstract of appraised values only. Each tentative
			 abstract should be submitted prior to the second Monday in June.
(2) In order to achieve uniformity of
			 assessment among the eighty-eight counties, and keeping in mind that there are
			 variations in cost schedules, depreciation schedules, etc., used by the various
			 appraisal firms, the staff of the department of taxation, upon receipt of the
			 "appraised value" abstract as prepared and filed by a county auditor, will
			 review the appraisal  in the
			 light of the information it has collected relative to recent real property
			 sales and other information relating to real property values to determine
			 whether all real property has been uniformly appraised at "true value in money"
			 as defined by rule
			 5703-25-05 of the Administrative
			 Code. After such review the staff will recommend to the tax commissioner whether the
			 commissioner should accept the reported appraisal value as a reasonable
			 estimate of true value as of tax lien date of the year of reappraisal or reject
			 the values and order the auditor to make the changes needed to insure that the
			 appraisal values are a reasonable estimate of true value in money as of tax
			 lien date of the year of reappraisal. The county auditor
			 will be
			 informed of the staff's recommendation.
(3) The commissioner
			 will
			 then transmit to the auditor a tentative order, which is not a final order of
			 the commissioner, which will contain the recommendations of the commissioner
			 as to any changes in aggregate values, or in any class thereof, in the county
			 or any taxing district thereof. After a review of such tentative order the
			 auditor will submit to the commissioner, on or before the
			 first Monday of August, a final abstract of taxable values and a final abstract
			 of the current year's true value of land valued under section
			 5713.31 of the Revised Code, as
			 both are required under section
			 5715.23 of the Revised Code. The
			 commissioner will review the final abstracts and make the
			 determinations required by section
			 5715.24 of the Revised Code and
			 issue a final order, if necessary, under section
			 5715.25 of the Revised
			 Code.
(4) Unless such an order is
			 appealed, as provided in section
			 5715.251 of the Revised Code,
			 the county auditor will then  determine the "taxable value" of each and every parcel of real
			 property by multiplying the true value of each and every parcel in each and
			 every class of real property in the county by thirty-five per cent as
			 prescribed by rule
			 5703-25-06 of the Administrative
			 Code.