realestate

Lucas County Real Estate Values Get Comprehensive Review

Key Facts for Property Owners: What You Need to Know

T
oledo City Paper spoke with Lucas County Auditor Katie Moline about the recent letters sent out indicating proposed revaluations for each parcel of real estate in Lucas County. This process is mandated by Ohio law and requires every county auditor to conduct an appraisal on all parcels once every six years.

    The State Department of Taxation determines an average increase or decrease in property values across counties, directing that Lucas County's values must increase by 29.5% on average. Other counties are slated for similar increases: Cuyahoga County (Cleveland) is assigned a 40% increase and Franklin County (Columbus) a 38% increase.

    The revaluation process will impact real estate taxes based on the appraised values of properties in Lucas County, which occurs every six years as directed by the Ohio Revised Code. In the intervening three-year period, the average estimated increase in real estate values across Lucas County was set at 16.5%, but each owner's tax bill only increased on average 2-3%.

    House Bill 920 eases tax payments for many levies tied to property value at the time of passage. Renewal levies must decrease millage to maintain assessed taxes, while replacement levies assess taxes at the same rate multiplied by the increased assessed property value.

    To estimate how revaluation impacts real estate taxes, Lucas County uses historical data and attributes such as number of bathrooms and bedrooms for each residence. The State prescribes increase amounts by county, with Lucas County's being 29.5%. A calculator on the auditor's website shows how levies will affect taxes using current values, not revaluation values.

    The proposed revaluation appraisals take into account residential and outbuilding attributes like pools or sheds. If attributes are inaccurate, property owners should notify the Auditor's office to ensure data accuracy. The informal review process allows citizens to question fair market value assigned to their properties.

    Property owners can disagree with the revaluation through in-person events, phone calls, or online submissions. The Auditor's staff will review and determine if changes are needed, but must adhere to the State Department of Taxation's 29.5% increase determination.

    If property owners still contest the valuation after the informal review, they can file for a review before the Lucas County Board of Revision in January 2025. The Auditor's staff requests that all informal review requests be submitted by October 11, with determinations made within a few weeks as revaluations must be submitted to the State by October 31.

    Contact information for Katie Moline and the Lucas County Auditor's office is available on their website.

Lucas County officials review real estate values in Toledo metropolitan area.