Frequently Asked Questions on Triennial Update
1. What is a Triennial Update?
Two components determine your property tax bill: assessed value and tax rate. According to Ohio law, county auditors are responsible for the first component, assessed value.
Auditors must physically reappraise each parcel of property every six years, referred to as the "reappraisal," and update the information every three years, known as the "triennial update". Valid real estate sales that have occurred in 2014, 2015 and 2016, are the main basis for adjustments in values during this 2017 triennial update with the most weight given to the most recent sales.
2. My home has never been for sale and we have no plans to sell it. Why does my value change based on my neighbors selling their home?
Ohio law mandates the County Auditor appraise all property at its market value. The best indicator is the amount similar homes have sold for. The update is a reflection of the most recent market activity, not a prediction of the future.
3. What is Market Value?
Market value is the most probable price a property would bring in a competitive and open market under all conditions requisite to an arm's length transaction, the buyer and seller each acting prudently and knowledgeably.
4. Will my taxes go up or down?
We will not have information about tax bills or homestead exemptions until mid-December 2017 following the November elections. Typically, as a result of the reappraisal and the update some property owners' taxes will go up, some will go down, and some will stay the same. The County Auditor has no power to raise or lower your property taxes. The taxes you pay are determined by the tax levies authorized by the voters in your community.
5. How do I know if my value is accurate?
An easy rule of thumb is to ask yourself if you could sell your property at the appraised price. If your answer is "yes" or "I think I could sell it for more" then your property value appears to be an accurate reflection of market value.
6. What is Assessed Value?
Assessed value is the value of property against which the tax rate is applied in order to compute the amount of taxes due. By Ohio law, assessed value is set at 35% of the appraised or market value.
7. How can Residential/Agricultural property owners obtain or provide additional information about the valuation of their property?
For this triennial update, our office will be holding informal review sessions on the first floor of the Administration Building, located at 101 East Main Street, Batavia, Ohio 45103, at which time you can verify the accuracy of the County's record of your property, learn how the value was determined and what factors were considered. We will have appointments available during our business hours of 8:00 a.m. to 4:30 p.m. through September 22. Evening appointments may be scheduled between 5:00 p.m. and 8:00 p.m. on September 12, 13, 14, 19, 20 and 21. Please call our Real Estate Assistance Desk at 513-732-7150 to schedule an appointment. If you have any questions you may also call the above phone number, write our office or contact us through our website.
In order to have property values reviewed, the owner must contact the Auditor's Office by September 22, 2017 with any pertinent information that could affect values. Letters must be postmarked by this date.
Please have this notice with your parcel number(s) ready when contacting us.
8. How can Commercial/Industrial property owners obtain or provide additional information about the valuation of their property?
Commercial/Industrial property owners may call our office to discuss or set up an appointment with our real estate staff at 513-732-7150. Please ask for the Real Estate Assistance Desk.
In order to have property values reviewed, we must have this information by September 22, 2017. Please have this notice with your parcel number(s) ready when contacting us.
9. Why do I have two parcel numbers, one ending in a "." and one ending in a "T"?
Generally, the parcel numbers are identical, save the last character, with one ending with a “T” and the other a “.”. The parcel ending in “T” is used to capture the value attributed to the TIF district. The value of both parcels must be summed to achieve the full appraised value. See the TIF parcel page here for additional information.
10. What type of information do I need to provide in order to have my property value reviewed?
Our office strives to ensure that property information is correct and each property is appraised fairly. We encourage you to review the information we have on our website about your property and if you still feel the value should be reviewed, it is important you present copies of supporting documents.
Examples of supporting documents are:
- Sales Contract
- Listing Agreement
- Closing Statement
- Appraisal Report
- Comparable Sales in the neighborhood
- (Commercial) Income & Expense for 3 years
- (Commercial) Rent Rolls
11. Can I appeal the market value that has been placed on my home?
If after contacting our office you are still not satisfied with the value placed on your property, you may file a complaint form with the Clermont County Board of Revision. This board is comprised of the County Treasurer, President of the Board of County Commissioners and the County Auditor. The applications are available from our office and can be filed between January 1 and March 31 of each year. However, you can only file once in this three year cycle (Tax years 2017-2019)