Ohio Law requires the County Auditor to value and reappraise all real estate in the county every six years for real estate tax purposes and to update and bring current those valuations within three years thereafter. In Ohio, Tax Year 2003 was an “update” year with a three year cycle or triennium. We are currently in the 2003-2005 triennium, with the next reappraisal year being tax year 2006. A property owner can complain against the valuation of real property once per triennium, with some exceptions. Further, commercial property owners must be represented by legal counsel to complain against the valuation of their real property.

By this time all Ohio property owners should have received the tax valuation duplicates for the Year 2005. The first half of 2005 was due in January 2006. It would be prudent for taxpayers to review these valuations and determine if they are reasonable. Taxpayers have until March 31, 2006 to file complaints disputing the Auditor’s valuation of their real estate. In order to complete this appeal process, materials will need to be compiled and submitted to the Board of Revision at the county level and, in some cases, real estate appraisals will need to be performed. Therefore, preparation of these complaints should begin immediately.

Tucker Ellis & West LLP’s Real Estate Group has extensive experience in obtaining reductions in real estate valuations throughout Ohio. With the drop in income produced by commercial real estate, it is worthwhile for taxpayers to review their real estate holdings. After reviewing this Client Alert and your 2005 tax duplicate (payable in 2006), please contact me with any questions on this process or any other real estate matter in which we can be of assistance.

JOSEPH M. SAPONARO
216.696.2493
joseph.saponaro@tuckerellis.com