Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Franklin County Property Values Expected To Increase This Year

WCBE Files

Land owners in one central Ohio county will likely see the value of their properties increase this year. Jim Letizia reports.

Franklin County Auditor Clarence Mingo says property values will rise by at least 10 percent when reassessments are conducted later this year. Mingo says the sale prices of homes sold in the second half of last year were 19 percent higher than the county’s estimated value. Reassessments are based on three years worth of sales, so Mingo says most homeowners should expect a double-digit increase. Mingo says a 40-year-old state law lowers effective millage rates as property values rise, in order to keep a steady revenue stream for school districts. The reassessments of all 435 thousand properties in the county will be sent to owners this summer, with the values showing up in tax bills that will be mailed in December. Owners may challenge the findings by petitioning for a formal hearing before the county Board of Revision.

Jim has been with WCBE since 1996. Before that he worked as a reporter at another Columbus radio station, and for three newspapers in Southwest Florida.
Related Content