Franklin County auditor Clarence Mingo has released updated property values for county residents, and they have by-and-large gone up, writes Jim Weiker of the Columbus Dispatch.
According to Mr. Weiker:
Franklin County homeowners now can learn how much the county thinks their home is worth.
Auditor Clarence Mingo’s office on Friday mailed out new value estimates to owners of all 430,000 parcels in the county.
For homeowners who can’t wait for the mail, the auditor posted the new values on his website, www.franklincountyauditor.com, at 11:59 p.m. Friday [Aug. 25]. Homeowners can find a link to the new value on top of the summary page of their property.
And talking about rising property values is just another way of saying property taxes are going up too.
Mingo’s office estimates that property values rose 14 percent since values were last updated in 2014, reflecting the housing-market recovery over the past few years.
That change in value is consistent with estimates from the real-estate website Zillow, but it is well below the 21.6 percent increase in median home-sale prices over the past three years, according to the National Association of Realtors.
The auditor found that value increases ranged from 8.5 percent in the Dublin school district to 29.9 percent in the Grandview Heights district.
Those top-line numbers shouldn't worry you too much, however. As Mr. Weiker writes, the state’s got your back.
[F]or homeowners, taxes will not rise anywhere near [14 percent].
Because of state limits on how much additional revenue schools and other taxing bodies can collect from rising property values, taxes will increase about 2 percent countywide, ranging from 1.3 percent in Dublin to 4 percent in Grandview Heights.
Most homeowners will pay about $50 more a year in taxes for each $100,000 in home value.
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