Franklin County home values on the rise, says county auditor
COLUMBUS (WCMH) — Donna Bowman was not surprised that the new tentative property value of her Weyant Avenue home is up 20 percent from three years ago. She explained there’s a lot of interest in homes in the Columbus east side neighborhood.
“I get a lot of calls,” Bowman said. “They’re buying houses on the street. I’m glad somebody’s interested in my house.”
Franklin County Auditor Michael Stinziano kicked off a campaign Monday to educate property owners about the new property values they are receiving in the mail.
“Based on the real estate sales in Franklin County, their tentative value has gone up and that’s is a good thing,” Stinziano said. “You want this investment to be an increase, but then we are aware of that concern and the interplay it has with property taxes.”
The new property values are part of the county’s triennial update to bring the value of every parcel in the county in line with the current real estate market.
The last update was conducted in 2017.
According to the auditor’s review, the total value of property in Franklin County has increased by more than $26 billion. Residential property increased 20 percent and commercial property increased 15 percent.
Stinziano explained that an increase in property value does not necessarily mean an increase in property taxes. He said that depends on the tax rate in each community determined by the various
levies and bond issues approved by voters.
“A lot of those issues go to the ballot seeking a set fixed amount, so even if that [property] value goes up, that set fixed amount doesn’t change,” Stinziano said.
The Auditor’s Know Your Home Value campaign is intended to educate residents and businesses about the triennial update. A video has been produced to explain the update process, and multi-lingual informational brochures will be available.
Homeowners can request an informal value review meeting with auditor’s appraisers to discuss their home value. The office is encouraging virtual informal reviews, but there will also be three physical locations for in-person meetings:
- Reynoldsburg American Postal Workers Union building, 610 Lancaster Ave. in Reynoldsburg
- Urban League, 788 Mt. Vernon Ave. in Columbus
- Hilliard City Hall, 3800 Municipal Way in Hilliard.
For more information, visit the Know Your Home Value campaign website at https://www.your2020homevalue.org