Market value of properties to drop
Settling 1,389 appeals in 2007 revaluations means $4.1 million loss in taxable dollars for Clark County.
Friday, May 16, 2008
Springfield, Ohio — Recommended settlements on 1,389 residential and agricultural properties would result in an estimated $11.8 million loss in market value in Clark County, if accepted by property owners, officials said Thursday, May 15.
That figure translates into about a $4.1 million reduction in assessed market value, which is used to determine taxes owed, officials said.
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Auditor George Sodders said it is "way too premature" to determine what effect the loss could have on revenue of the county's taxing districts, which vary by millage.
The board of revision will review — and possibly settle — another 1,000 properties. There were some 2,030 total complaints filed on residential and agricultural properties appeals resulting from the county's 2007 revaluation by Findlay-based Appraisal Research Corp.
Reductions from the county's hearing board reviewing about 738 commercial and industrial appeals are not included in the $11.8 million figure.
Sodders presides over the board of revision — which includes County Commission President Roger Tackett — that recommended parcels for settlement at three recent administrative review sessions, including the session Thursday.
Property owners who filed appeals will get notifications of recommended values that they can accept or reject and continue with a hearing.
Contact this reporter at (937) 328-0374 or boutten@coxohio.com.
