Knox County Ohio Residential Property Tax Appraisals Decline
Home values today are down from the housing peak of 2006. What is interesting is that our real estate taxes in Knox County Ohio haven't exactly followed that trend and in many cases remained at those higher values. This created some frustration for many property owners because many folks knew they were paying their real estate taxes based n inflated tax appraisals. I have some good news for Knox County...the majority of residential real estate taxes in Knox County Ohio are about to benefit from a reduction. Tax values will decrease by 6% decrease on all residential classed parcels with the exception off any parcel having new construction. This a sign that the Department of Taxation is actually listening to those who have posed concerns about their home values as compared to their tax appraised values. It appears that a 6% decrease calculation was applied to most residential tax appraisals which means that the majority of property taxes will decrease when you pay your tax bill.
The information below is an account of the letter I received from the Knox County Auditor's Office which does a great job of answers most questions.
Dear Property Owner:
This change in value notice is being sent to inform you of your new real estate value for the 2011 tax year. As required by Ohio Law, the County Auditor is charged with the duty to update values during the third year after a county wide reappraisal. This process is called the Triennial Update.
A Triennial update is the process of reviewing sales and not actually viewing each property. The 2011 Triennial update looks at sales from 2008, 2009 and 2010. After receiving a recommendation from the Department of Taxaction and reviewing arms length sales, a 6% decrease on all residential classed parcels was made with the exception of any parcels having new construction.
If your property is reduced because of the Current Agricultural Use Value program (CAUV) that new value is also included as a notation beneath the market/taxable values. CAUV soil tables can be adjusted every three years along with the County's Triennial Update and Reappraisal. These tables are adjusted by the State of Ohio Department of Taxation.
Every property owner is encouraged to review their property's total value. You can access your property record card to review parcel information on our website at www.KnoxCountyAuditor.org. We will have open books until October 28, 2011. At the completion of the open book period our values will be sent to the state for final approval. After that time if you disagree with your property values you will have the option to file a complaint form through the Board of Revisions (BOR) process from January 1, 2012 to March 31, 2012.
If you have any questions, you can contact our office at (740) 393-6747. Our office hours are Monday-Friday, 8am to 4pm.
Knox County Auditor
If you would like to compare your home with other local homes for sale feel free to visit our listing link which contains all of our available Knox County Ohio homes for sale and we even organized them in price order to make it easier for you to view.
