Property Revaluation FAQ
Why does the Auditor update my value?
Ohio law bases property taxes on the theory of equalization. That is property taxes are calculated based on the market value of a property at a given point in time. Many other states base the value for a property on the most recent sales price of that property plus an inflationary factor based on the overall real estate market. While the sales price is the best indicator of market value, as that sale becomes older it becomes less relevant to the current market value. For example a house purchased in 1970 for $16,000 which has included an inflationary adjustment of 2% per year would have a value of $40,500. The house right next door to that property which could be identical in every way may have sold for $80,000. As you can see this does not give an equitable tax burden for houses which are equal in every other way.
Ohio avoids this problem by mandating the auditor complete a reappraisal of every property in the county every six years and a triennial update every three years following the reappraisal. Basing values on sales that have occurred for similar type properties in the same neighborhood the auditor can ensure the property valuations related to the current market and helps ensure that similar properties are valued in a similar manner and thus are taxes based on the theory of equalization.
What is the difference between a reappraisal and a triennial update?
A reappraisal involves a visual inspection of the property. This includes assessing the condition of the property relative to other properties in the neighborhood and gathering data regarding changes that may have occurred since the last reappraisal. The information is input into a computer model which determines the value for the property based on the property characteristics that were entered. The results of this computer generated value are then measured against actual sales that occurred in the market.
A Triennial Update is a review of valid sales over the period of three years, since the last reappraisal. The sales data is looked at for trends in the market and values are equalized based on sales factors specific to each neighborhood area. Therefore, changes in value will vary between neighborhood areas. Neighborhood areas for valuing purposes are defined by like housing type, age, and size. A neighborhood area can be larger or smaller than what you may think of as your neighborhood.
How do sales in my neighborhood impact my value?
There is a direct correlation to your value and the sales of similar properties in your neighborhood. As stated earlier taxes are based on the theory of equalization. We do not chase individual sales, but instead value properties based on the overall market for the neighborhood. For example if three identical properties sold for $90,000; $100,000; and $110,000, we would arrive at a value of $100,000 for each property. Equal properties have an equal value regardless of the sales price.
How does the county determine the value for a property?
We appraise properties utilizing mass appraisal methods using a hired contractor that specializes in mass appraisals. The contractor will complete a reappraisal of all properties in Greene County by gathering data on every property in Greene County and building tables that will determine the value. The accuracy of these tables is tested by looking at sales that actually occur to determine if the tables need to be adjusted.
How does a mass appraisal differ from a fee appraisal?
Both are acceptable methods for valuing property under the professional appraisal standards but the fee appraisal methodology is more driven at a specific property. The table below highlights some of the differences between the two methods.
|Mass Appraisal||Fee Appraisal|
|73,000-plus properties||One property|
|Analyze 3 years of sales||Utilize sales no older than 3-6 months|
|Inspection-majority of properties exterior only||Inspection-interior and exterior usually required|
|2 - 2½ years to be complete||2 - 3 days turnaround|
|Equalization with other properties is required||No equalization necessary|
|Testing of results required||No testing necessary|
|About $15 per parcel||$250 - $500 per residential property, more for a commercial property|
What are the problems associated with the mass appraisal?
The primary problems with the mass appraisal approach are:
- Properties are not looked at individually to determine the value; instead we make assumptions that the properties within a neighborhood are similar.
- Only so much information can be considered by the computer model in determining the value. For example a new roof might help a property sell for more, but we do not keep track of the age of the roof.
- We do not get inside properties to determine the finish of the interior thus limiting are knowledge of the condition and attributes of the property.
What are the benefits of the mass appraisal approach?
The two primary benefits of the mass appraisal approach are time and cost.
- A normal fee appraiser would charge at least $250 to complete an appraisal. The contract signed to complete the mass appraisal for 2020 cost approximately $15 per parcel.
- A normal fee appraisal would take at least 4 hours to complete. With over 74,000 parcels, the amount of time spent reappraising every property would be prohibitive.
- Finally, most people would consider it an intrusion of government to require that they allow one of our appraisers go through their house in order to determine its value.
What information is considered in arriving at my value?
Location! Location! Location! You've heard the saying and it is true that the location of a property is the most significant characteristic of real property which drives its market value. We also consider the size and topography of the land; age of the structure; the style of the home, one-story, two-story, bi-level, split-level; the number of square feet of finished living space; the quality of construction; number of rooms, bedrooms and baths; car storage; basement size and finish; fireplaces; air conditioning; other exterior features or structures as well as the overall condition of the improvements.
If I disagree with my property valuation what can I do?
The first thing I would encourage people to do is to review their property information to ensure the data we have is correct. While we take great pride in the accuracy of our data we do realize with over 74,000 parcels there are bound to be some mistakes. The information can be reviewed by going to:
You can contact our office by calling (937) 562-5621. Depending on call volume you may need to leave a message or make several attempts to get through to one of our appraisers.
You can also complete an online form at: DTE 1 - Complaint Against the Valuation of Real Property (PDF).
What type of information do I need to support my opinion of value?
Just because you believe your value is incorrect, you have to be able to provide evidence to support your opinion of the value. Evidence can include, but is not limited to:
- Correcting the data the auditor has on your property. This can be reviewed by going to Greene County Property and Map Search.
- A recent sale of your property.
- A recent appraisal of your property.
- If you have your property listed for sale, a listing for the property.
- Sales of comparable properties in your neighborhood. Please provide the specific properties you used as comps.
- Condition of your property.
- Improvements or injuries to your property.
- Any other information you think is relevant to support your claim to value.
What if I disagree with the findings from the informal review or was unable to participate in the informal review process?
If you disagree with the final value resulting from the Informal Value Review, or if you missed the opportunity to attend a value review session, you have the right to file an application with the Greene County Board of Revision from the mailing of tax bills in January through March 31st.