Franklin County home values keep going up

• This year's reassessments come as Ohioans are growing increasingly frustrated by rising property taxes, with some campaigning to abolish them altogether.

If it feels like we just did this, that's because county auditors adjust property values in Ohio every three years, based on market conditions.

• The process cycles between triennial updates, based on neighborhood sales data, and more thorough reappraisals that also include exterior home inspections. The latter happened in 2023 in Franklin County.
• Values rose to historic levels that year due to a pandemic-fueled housing boom, with residential properties averaging a 43% jump.

The good news: This year's update is more modest, with a tentative average increase of 9% for residential properties, per the Franklin County Auditor's Office.

Yes, but: A higher home value doesn't necessarily mean property taxes will increase by the same percentage, a common misconception.

How it works: How much homeowners pay toward school and government levies depends partly on how much their property values have changed relative to others' in the same taxing district.

• Only 35% of the value — called "assessed value" in Ohio — is taxed.

• And because Ohio law limits how much levies can collect, tax rates are sometimes reduced even when property values rise.

What's next: Updated valuations are expected on June 9. They'll arrive by mail and will be available on the auditor's website.

• If homeowners agree with the new value, they don't need to take any action, and it will affect tax calculations beginning in 2027.
• But if they think it's too low or too high, they can initiate a review starting in July.

What we're watching: Franklin County's next full reappraisal has been delayed a year to 2030 as part of recent statewide tax changes.