The valuable information below is reposted with the permission of Marie DeMio of Chicago Title.
Along with this, also remember that most of us are 6 months in arrears on our real estate taxes.Please contact me and I will be happy to explain it further. Be sure to visit my website for more information on real estate in your area.
I have had many calls recently regarding tax appraisals and how to contact your county auditors, so I thought I would forward this information and the link to the site where it is provided. And be sure to remind your customers that a county tax appraisal is not a market value appraisal.
I have also included the contact information for surrounding counties in which you may market.
Please continue to call if you and/or your customers have questions regarding their tax bills, tax prorations or escrows.
I am here for you and your customers 24/7!! Enjoy your weekend and this Great Sunshine!
How do I provide feedback to my county auditor?
Some homeowners may wonder when it is appropriate to provide feedback about their valuation. Some of the questions to consider are:
· Do you feel an error has been made in your appraisal?
· Do you feel that the appraised value of the property is more than what the property would sell for?
· Do you feel the appraisal missed something when your home was reviewed that might lower the valuation?
Homeowners that have questions or concerns about their valuation have the opportunity to provide feedback to a county representative to discuss their valuation and request that changes be made.
Property owners can appeal informally or formally. The informal hearings allow homeowners to meet with the appraiser and correct any mistakes or raise any questions. This informal process saves you time and money by not going to court. Property owners also have a formal appeal route that can serve their needs as well. Either avenue leads to fair play for property owners.
http://www.yourhomeyourvalue.org/giving_feedback/index.asp
Understanding The Valuation Process
It’s been said that “understanding is half the battle”—and when it comes to understanding the home valuation process, our goal is to make it simple and straightforward so you, the homeowner, can be both well informed and well educated.
Because market values change over time as properties are bought and sold, Ohio law requires that each home in the state go through a reappraisal process every six years (a sexennial). In addition, every three years (triennial), the appraisal is updated. The illustrations below will guide you through understanding the six major steps of the valuation process. While these steps may vary slightly from county to county, these are generally reflective of the steps that all counties follow.
1. Collection
With reappraisals that happen every six years, state registered appraisal firms’ employees physically visit each home in the county to update property characteristics over approximately a two-year period. These field appraisers attempt to make contact with the property owner to discuss the property characteristics, such as land size/type, building size, age, type, quality, condition, room counts and other relevant data.
2. Analysis
The county auditor’s office takes great care to ensure that property information is correct and that each property is assessed in a fair and uniform manner.
The office works to establish neighborhood boundaries then looks at historic trends and actual sales over the last three years within these boundaries to determine the estimated fair market value of properties.
3. Setting
The estimated fair market value is used as the gauge when valuing property and setting the appraisal.
Fair market value is defined as the most probable price each property would be estimated to sell for in an open market between a willing buyer and a willing seller, neither being under any pressure to buy or sell, and all parties having full knowledge of all relevant facts about the property.
4. Feedback
When the county announces the completion of property valuations, notices are sent to homeowners and all records are made available for public inspection.
Homeowners that have questions or concerns about their valuation have the opportunity to arrange a face-to-face meeting with a county representative to discuss their valuation. Homeowners are requested to submit documentation for any requested change.
5. Review
Once the valuations go through the feedback process, they are sent to the state for review and validation. This is yet another step in the process to ensure that valuations are fair, correct and follow accurate trends across each county.
The state has the authority to request that each county modify their valuations if deemed necessary.
6. Finalization
When the county auditor announces the completion of property valuations, all records are made available for public inspection.
Cuyahoga
Frank Russo
1219 Ontario St. , Rm. 300
Cleveland , Ohio 44113-1657
Telephone: 216-443-7010
Fax: 216-443-5090
E-mail: frankrusso@cuyahogacounty.us
Web Site: http://auditor.cuyahogacounty.us
Summit
John A. Donofrio
The Ohio Bldg., Suite 400
175 S. Main St .
Akron , Ohio 44308
Telephone: 330-643-2632
Fax: 330-643-2622
E-mail: jdonofrio@summitoh.net
Web Site: http://www.co.summit.oh.us/fiscaloffice
Stark
Kim Perez
Stark County Office Bldg.
110 Central Plaza South, Suite 220
Canton , Ohio 44702
Telephone: 330-451-7357
Fax: 330-451-7630
E-mail: KRPerez@co.stark.oh.us
Web Site: http://www.auditor.co.stark.oh.us
Lorain
Mark R. Stewart
226 Middle Ave. , 2nd Floor
Elyria , Ohio 44035-5640
Telephone: 440-329-5170
Fax: 440-329-5223
E-mail: auditor@loraincounty.com
Web Site: http://www.loraincounty.com/auditor
Portage
Janet Esposito
449 South Meridian Street
Ravenna , Ohio 44266-1217
Telephone: 330-297-3561 or 3565
Fax: 330-297-4560
E-mail: jesposito@portageco.com
Web Site: http://www.co.portage.oh.us
Lake
Edward H. Zupancic
105 Main Street
Painesville , Ohio 44077
Telephone: 440-350-2532
Fax: 440-350-2667
E-mail: ezupancic@lakecountyohio.org
Web Site: http://www.lake.iviewauditor.com/
Marie J DeMio, Account Executive
Chicago Title Insurance Company
10883 Pearl Road
Strongsville, OH 44136
Cell 216.924.1160
Office Phone 440.846.0919
FAX 440.846.0818
If you would like to buy or sell a home in the southern communities of Cleveland Ohio, please call me at 440-263-7496, or you may want to visit my website for more specific information on the communities I service: Brecksville Ohio Real Estate, Broadview Heights Ohio Real Estate, North Royalton Ohio Real Estate Independence Ohio Real Estate, Seven Hills Ohio Real Estate, Parma Ohio Real Estate, Parma Heights Ohio Real Estate and Middleburg Heights Ohio Real Estate. Information is obtained from Neohrex (Northeast Ohio Real Estate Exchange) and is deemed reliable but not guaranteed and should be independently verified. Properties subject to prior sale, rental, or other status changes. All properties that are advertised as being listed or sold by Barb Szabo are in conjuntion with ReMax Trinity.
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