Cuyahoga County property valuations skyrocket in recent appraisals
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Cuyahoga County treasurer Brad Cromes explains the appraisal process. Photo: Sam Allard/Axios
Brace yourselves, Cuyahoga County property owners.
Driving the news: The results of the county's latest property appraisals are in, and they show dramatic increases in property valuations countywide.
- Valuations climbed 32% on average, with jumps ranging from 15% in tony Hunting Valley to 67% in East Cleveland.
Why it matters: Increased property valuations mean higher taxes, and many homeowners will pay more to fund public services like schools, parks and libraries.
- The increased valuations are also a reflection of the piping-hot housing market locally.
The big picture: Ohio requires counties to reappraise properties every six years and adjust valuations accordingly.
The latest: County officials advised Tuesday that all homeowners will receive notices of their property's valuation in the coming days.
Between the lines: They repeatedly stressed that the percentage increase in one's property valuation does not correspond directly to the increase in taxes.
For example: If you own a house in Cleveland that was previously assessed at $180,000 and it increased by the county average of 32% to $237,600, your taxes would jump from $4,761 to $4,941, an increase of 3.8%
- You can ballpark your increase using the county's property tax estimator.
What they're saying: County fiscal officer Mike Chambers acknowledged there have been some "big swings," particularly in Cleveland (an average 49% increase) and some of the inner-ring suburbs.
- Homeowners can appeal their valuation until Aug. 30. Chambers said if you're able to sell your house for the new assessed value or higher, the process worked properly.
- On the fiscal officer's website, homeowners can also learn about tax credits and other financial resources that may be available to them.
What's next: County treasurer Brad Cromes said that by the fall, the county plans to launch a taxpayer assistance program that would probably include direct cash assistance and property tax assistance for seniors.
The bottom line: Tax bills reflecting the newly assessed property valuations will hit homeowners' mailboxes in January.
Stop by: For additional information on the assessment and appeal processes, residents can attend one of four informational sessions July 29 to Aug. 1.