Franklin County home values going up

Franklin County home values will increase by historic levels following this year's countywide property reappraisal, a process that happens every six years based on Ohio law.

Why it matters: Your home's appraised market value impacts how much you pay in property taxes, plus how much you could sell it for.

• This is the first full reappraisal since the pandemic-fueled housing boom that spiked demand for area homes — and prices — to unprecedented highs.

The latest: Starting Tuesday, you can check your home's new value on the Franklin County auditor's website and view your estimated new tax bill. Letters will also be mailed later this month.

By the numbers: On average, home values are expected to increase 43% across Franklin County this year, though the amounts will vary significantly between school districts.

• Traditionally more affordable districts will have the largest jumps, as they're starting from lower price points: Hamilton (70%), Whitehall (68%) and Groveport-Madison (61%).

Yes, but: This doesn't mean your property tax bill will increase by that percentage, which is a common misconception, Franklin County Auditor Michael Stinziano tells Axios.

• How your home's value changes in comparison to similar homes in your area influences whether your tax bill will go up or down.

How it works: Ohio property tax calculations are complicated, so we recommend letting the auditor's calculator do the work.

• Only 35% of your property value — the assessed value — is taxed.

• Taxes are then calculated based on all the levies and bonds that have been approved for your municipality and school district.

Of note: Any tax issues approved in this November's election could also impact your next bill — so the auditor website estimates are tentative and will be finalized in December, Stinziano says.

What's next: If you agree with the new value of your property, you don't need to do anything.

• But if you think it's too low or too high, you can submit documentation to the auditor's office starting in September to make your case, or schedule a property value review.
• More than 6,000 taxpayers out of over 450,000 properties filed disputes when the county's new values came out in 2017, WSYX-TV reports.