Frank Russo - tri annual real property re-assessment auditor's conferences

Submitted by Jeff Buster on Tue, 07/07/2009 - 11:15.

Every three years real property is re-evaluated in Ohio.  As every real estate owner is aware, the market value of real property throughout the US has dropped over the last three years, and particularly during the last year.   Many areas in North East Ohio have had dramatic - scary - drops in value.  
Consequently, the "taxable value" (which is 35% of the market value) of any real property you own will very likely decrease from the value which was established 3 years ago.  Decreases in the range of 25% or more  are not unlikely.   Here is a link to the Auditor's site which has the schedule of auditor's conferences for your town.  See also the "complaint" link on the Cuyahoga County Auditor's homepage
Therefore, to prevent paying an unreasonable large tax, it is in your interest to take the time to find any recent sales of property in your neighborhood - to establish "comps" - or comparable market pricing which would be relevant to your property.  Make a spread sheet/chart and compare your lot size, house square footage, condition (roof, paint, driveway, windows, etc) with the houses near you - particularly any that have been sold in the last few years.
I strongly encourage every property owner to take the time to review their property value in relation to recent sales and the valuations of the property around yours.  Then go to the auditor's conference for your town.   The conferences are staffed with personnel who are not there to fight with you about your valuation - but rather to listen to your analysis and then make a recommendation to the auditor.   So do your homework, be fair, be impartial.
A friend of mine who went to a conference recently said that the experience was pleasant - there was even coffee available. 
I’m not crazy about seeing Frank Russo’s image and name on everything, but the Auditor’s conferences are well organized and a positive interaction with government.   I do, however, fault the Auditor for not meta tagging the web schedule page so that Google will find it.  If you search for "auditor conference frank russo" or "community meeting frank russo" Google will not find the schedule.   The schedule should have descriptive text on it so that a Google search will hit it.   Google now finds the schedule, but only because of this Realneo post.

 

 

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