Summit County property owners have until March 31st to appeal the revaluation of their property.
Summit County’s Treasury Department released new property values in December after Ohio law made it mandatory. This time, however, state tax commissioner Jeff McClain instructed the office to use the 2019 sales only for revaluation, rather than the last three years sales, which resulted in a sharp surge in property values.
Assistant Treasurer Dominic Basile says this doesn’t necessarily mean a significant increase in property taxes.
Summit County’s revaluations may not materially change property taxes
Dominic Basile: Impact on Real Estate Taxes
“If your real estate value increased by 20%, your actual real estate taxes would most likely not increase by 20%. It would be to a lesser extent, ”said Basile.
He says there’s even a chance that property taxes won’t go up at all on properties that have risen in value.
Property owners can contact the Audit Committee if they believe their new valuation was too high or too low.