Franklin County Triennial Review - What, When and How-Franklin County Triennial Review

Video Transcription

Video Summary

The transcript is a presentation from the Franklin County Auditor’s Office explaining how property values are updated and why those updates matter. P.R. Casey first outlines Ohio’s legal requirements: counties must conduct a full reappraisal every six years and a property value update at the three-year midpoint. He explains the difference between a reappraisal and a triennial update, emphasizing that both use mass appraisal methods, meaning properties are valued from exterior observations, sales data, neighborhood analysis, GIS mapping, and desktop review tools rather than interior inspections.<br /><br />Casey also describes how property owners can challenge tentative values through informal property value review meetings, and later through the formal Board of Revision process. He explains that property values and property taxes are related but not the same: tax changes depend on value shifts, local levies, and Ohio’s House Bill 920 tax-rate equalization rules.<br /><br />Steve Jarrell then gives an update on the 2026 property value review, noting that values have risen more moderately than during the 2023 reappraisal. He discusses how sales are verified as arm’s-length transactions and how homeowners will receive letters with their new values and can use the county’s “Know Your Home Value” website and tax estimator tools.<br /><br />Finally, Gary Smith explains the commercial side of mass appraisal, including how properties are grouped by land use, how sales ratios and market trends are analyzed, and how different commercial sectors—such as warehouses, offices, retail, and apartments—are performing differently in the current market.

Keywords

property values

reappraisal

triennial update

mass appraisal

Franklin County Auditor

Board of Revision

House Bill 920

property taxes

Know Your Home Value

commercial real estate