New property values out; big tax increases for some
YOUNGSTOWN, Ohio (WKBN) – Property tax reappraisals have finished up in Mahoning County. The auditor said that there are some increases, but they won’t be dollar for dollar.
The appraisals are done every six years according to Ohio law. People working for the county walked by or drove through neighborhoods to get information about buildings and homes in the county. That information, along with sales data, was used in determining individual appraisal values for taxation purposes.
“Concurrent with that, they’re always looking at sales. We want to get to what’s the real for-sale value of that property,” said Mahoning County Auditor Ralph Meacham.
Meacham said the property taxes are based on time periods that have already passed, and they look at pricing data from 2022. We all know what the housing market did over the past few years, so those prices are reflected in the new valuations.
The latest assessment shows an average increase of more than 38% county-wide, but taxes will not be jumping that high.
“There’s not a direct proportion between taxes –increase in taxes and increases in value,” Meacham said.
Ultimately, the Ohio Department of Taxation takes the latest assessments along with individual local tax levies to determine effective rates across the state. Already, the dramatic increases in values in more than a dozen counties have lawmakers pushing the brakes.
“What we need to do is put a pause so that we do not see an increase of this magnitude for the property taxes of residents here in Mahoning County,” said Rep. Al Cutron, R-58th District.
Cutrona hopes the pending Ohio Homeowners Relief Act can be approved later this month to freeze property tax rates for the next three years. Still, local officials worry increases will create a ripple effect in communities with levies and bond issues on the ballot this fall.
The solution Cutrona is hopeful for includes a three-year pause to keep the property taxes stagnant.
Meacham says it could be the end of this year before the state determines new tax rates.
Meacham wanted property owners to be aware of the timeline of those appraisals and opportunities to appeal the new valuations.
2023 Tentative Reappraisal Timeline
August – State approves tentative values. The auditor releases new values on the County Auditor’s website and activates the reappraisal hotline.
September/October – The auditor holds virtual informal hearings for taxpayers with appraisers to discuss the new market value. Instructions for scheduling a virtual hearing will be posted on the auditor’s website.
October/November – State gives final value approval of revaluation, new construction, demolition and splits and plats.
December/January – The auditor submits tax levies to the State for tax rate calculations.
January 2024 – The state sends tax rates to the Auditor who then calculates property taxes. New property taxes are released on the Auditor’s website. The formal Board of Revision (BOR) appeal filing period opens on January 2, 2024.
March/April 2024 – The Board of Revision appeal filing period closes on March 31. Property taxes are typically due in March.
New valuations are now on your property tax records online, including sketches and property characteristics. Taxpayers can obtain their new tentative property values by logging onto the Auditor’s page on Mahoning County’s website at www.mahoningcountyoh.gov, or by calling the Reappraisal Hotline at 330-740-2758.