Property Tax Appeals-Cuyahoga and others

Most people are aware that property values have been dropping for the past several years. However, the values on which the taxes are based, typically, have not followed the current market values.

This means that you may very well be over-paying on your property taxes. Even if you wait for the triennial reassessment of values that is coming this summer, there's no certainty that the County will adjust the value of your home to the true, current market value.

Plus, if you wait for that, it will be too late to appeal for 2010 & 2011 taxes already paid (yes, you can still appeal the 2010 taxes). You'll have to wait until next year. That's because the property tax appeals must be filed between 01/01-03/31 each year, per Ohio law.

So, how do you appeal your property tax value? In some cases, it's pretty easy. Here's a summary of the process and what information/documentation you'll need available:

Here is a link to the Board of Revisions mandatory form:
http://www.bor.cuyahogacounty.us/complaint.asp
I'm not going to print here all the instructions or what documentation you may need to include with your Appeal. The link has all that information for you.
According to the County, you just fill out the form and that's it... But when is it ever that easy.
If you do encounter any complications, you can call them at (216) 443-7195 and they will help you.

Sometime after your Complaint is filed, you will receive a notice from the Clerk of the Board of Revisions, to schedule an in-person hearing. This is where you, and only you, will present your case as to why your assessed value should be reduced so that you have lower property taxes.

Now, some people are too busy to do the research or get easily frustrated by the government forms and instructions, so you simply say "forget it" and keep giving the government more of your money than they deserve. There is still hope for you. You can do an internet search for something like "appeal my property taxes in Cuyahoga (or whatever other County) County, Ohio" and you will find a few companies that will do all the paperwork for you. Most charge only $100-200 to do this. You may also end up needing a new appraisal, which can typically run $300-$500. If you can save $300 a year on your property tax bill, then it may be money well spent. I would normally try to help by posting a couple of the companies here but, then it looks like I'm promising that they're going to be awesome, but I've never actually used one of them. So I'm being a bit wimpy-sorry!

The first place to start is to check your property tax values on the County Fiscal Officer's website:

http://fiscalofficer.cuyahogacounty.us/en-US/REPI.aspx

Do an "online property search". Then, go to the "taxes" screen and see what the "Total Value" is inder the Market Value column in the middle says. If it's at leasts 10% higher than what you paid for the home, then you definitely want to look into appealing your property taxes.

In order to get a good handle on your home's TRUE value, you really need someone to pull "comps" from the local MLS system. I would encourage you to call your Real Estate Professional. If you don't remember them, or would prefer a different option, please contact me.

If you bought your home in the last couple of years, then you should have a file with a copy of your Settlement Statement or Appraisal report. You will need to include these with the Complaint Form. It will make it easier to have a successful appeal. In fact, if I did your home loan, then I should have a copy of your appraisal.

However, even if you bought your home 30-years ago, you should look into this. Take a moment to review the information under the "What if I didn't buy in the last couple years" tab.

Of course, if you have any questions or I can help, please contact me at (216) 401-1717.