With Franklin County Auditor Michael Stinziano
We welcome back Franklin County Auditor Michael Stinziano to discuss the 2023 Property Tax Reappraisal process.
With concerns about property taxes driving long-time residents out of their neighborhoods, the episode focuses on proposed solutions, the impact of property taxes on homeowners, and the importance of understanding the valuation process.
The Homestead Exemption and Property Tax Concerns
Stinziano advocates for the modernization of the Homestead Exemption. More older adults should be able to take advantage of it! He expresses concern about long-time residents being priced out of their neighborhoods due to increasing property taxes. Stinziano proposes capping tax increases and implementing targeted tax breaks to alleviate these concerns. He references the “Cleveland model,” which advocates and champions in Cleveland (OH) have successfully implemented to address similar issues.
Solutions and Stability in Property Taxes
Stinziano suggests implementing circuit breakers to stabilize property taxes and alleviate concerns for homeowners. He highlights that property taxes are based on the assessed valuation and the taxing district, with a range of valuations based on historical data. He acknowledges that Ohio is not a favorable place for Buckeyes to grow old due to the property tax system and calls for the evaluation and improvement of these taxes.
Understanding the Property Tax Reappraisal Process and Tax Projection
The podcast highlights that Franklin County has seen a significant increase of 41% in home values in recent years. Stinziano explains that property owners can access their property’s tentative value, recent home sales, and their neighbors’ tentative values through an online tool provided by his office, Know Your Home Value. He emphasizes the informative nature of the tool but mentions that it does not provide a final declaration of property taxes due to factors like ballot approvals.
Seeking Accuracy and Working with Property Owners
Stinziano encourages property owners to collaborate with the auditor’s office if they believe there are errors in their property’s value. He mentions the importance of trying different value scenarios to understand the impact on taxes. Stinziano highlights that property taxes should not increase by more than 5-6%, even if the tentative property values appear eye-popping. He also discusses specific examples of communities with varying property values and the factors contributing to these valuations.
Importance of Voting and Community Support
Stinziano explains that property owners should be aware of bond or levy proposals that may impact property taxes. There is a correlation between property taxes and voting on tax entities, highlighting the importance of exercising the value of one’s vote. Additionally, he praises tax entities for making a strong case for supporting the libraries and following through on promises to improve community resources.
Accessing Information and Engaging with the Auditor’s Office
Property owners can contact the auditor’s office through the New Home Value website, email, or phone for specific questions. We highlight the advantage of being able to meet with an appraiser in Franklin County, mentioning that not all counties offer this process. Property owners are encouraged to work with the office, provide helpful information, and establish the correct value for their property.
Establishing Accurate Evaluations and the Appeal Process
Stinziano emphasizes the importance of providing square footage, recent sales history, and third-party appraisals to establish an accurate property value. Simply stating personal reasons, such as mold or snakes, will not justify a value change. The final determinations will be shared in early to mid-December (2023) before the property tax bill comes out for those who have submitted documents. Property owners can participate in the annual board of revision process in November or December if they feel the values are inaccurate.
It’s important for property owners to review their property values and take action if necessary. There are numerous educational programs Franklin County conducts to inform property owners about the tax reappraisal process. Utilize the available resources and opportunities to speak with experts. By understanding the process and engaging with the auditor’s office, property owners can ensure accurate evaluations and potentially take steps to address their property tax concerns.
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Recorded in Studio C at 511 Studios. A production of Circle270Media Podcast Consultants.
Copyright 2023 Carol Ventresca and Brett Johnson
