Appraisers to start update of property evaluationsPublished 12:46am Sunday, February 3, 2013
Appraisers are getting ready to start the triennial statistical evaluation of property in Lawrence County.
This happens every three years after the physical appraisal that is done every six years. The last time the triennial was conducted was in 2007 for taxes to be paid in 2008.
“You look at the sales in the neighborhood of similar homes or in the county to see what we have on the auditor’s book,” Lawrence County Auditor Jason Stephens said. “You apply that analysis across the whole county.”
The statistical appraisal is done under the auspices of the Ohio Department of Taxation.
“They have to agree to it,” Stephens said. “It is nothing that we arbitrarily do. We have appraisers who we contract with. It is pretty detailed.”
The last physical appraisal, conducted in 2010 for taxes payable in 2011 on 55,389 parcels, was $870,047,530, compared with the earlier triennial of $789,640,280 that was used for the 2008 tax bills. That was an increase in the valuations of 10.18 percent over the earlier triennial update.
“As we go through the year by September and October we will have good idea of where we are going to be,” Stephens said. “The real estate market can be a lot healthier in one part of the county and not in another part of the county.”
A representative from Appraisals Research Corp. out of Findlay will meet with the auditor’s office on Feb. 13 to start putting together a plan for the upcoming appraisal.