In accordance with Ohio law, the County Fiscal Officer is responsible for the valuation of all real estate within their respective county. Property revaluations occur in two cycles, the sexennial reappraisal, conducted every six years, and the triennial update, performed every three years between reappraisals. The key difference between these two reevaluation cycles is the scope and methodology. While both processes involve analyzing recent comparable sales to determine property values, the sexennial reappraisal requires a more thorough assessment, including a personal review of each property. Cuyahoga County’s 2024 sexennial reappraisals were recently released and Proposed Value Notices were sent to property owners. These notices reflect a countywide average increase in property values of 32%.

The Proposed Value Notices provide both a “Market Value” and an “Assessed Value.”

• “Market Value” is defined as the estimated price your property would likely sell for in an open and competitive market between a willing buyer and seller.
• “Assessed Value” is set by the State of Ohio at 35% of market value. Assessed Value is the value of taxable property to which the tax rate is applied to compute the amount of property taxes.

Property owners have the right to contest their property tax evaluations through the formal appeal process with the Cuyahoga County Board of Revisions. However, appeals for the 2024 sexennial reappraisals can only be filed between January 1, 2025 and March 31, 2025.

To successfully challenge an increased property valuation, owners must provide evidence showing the revaluation was incorrect. This could include a recent sale below the appraised value or proof of damage or destruction that impacts the property’s value. In many cases, obtaining a professional appraisal may be necessary to support an appeal. Additional information can be found on the county's website.

The experienced attorneys in Mansour Gavin’s Real Estate practice group are ready to assist with all your real estate needs. If you have any questions or need further clarification on this or other real estate matters, don’t hesitate to reach out to our team or contact us today.