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Auditor - Triennial Update

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1. Can I still file a Property Review for my 2009 value?

No. The deadline to file a Property Review was October 2, 2009. You can still contest your 2009 value through the Board of Revision (BOR) process. Download a BOR application or pick one up at our office. The filing period to apply for a BOR is January 1 - March 31, 2010.

2. If my value is decreased does that mean I will see a reduction on my taxes?

There is no dollar-for-dollar correlation between the decrease/increase in appraised value and taxes. Your appraised value multiplied by the voted levies equal your general taxes.

3. How are my taxes calculated?

Property taxes are calculated by taking the fair market value of a home (35% of the appraised value, less the allowable deductions - 10% rollback and 2.5% home site reduction) and multiplying it by the effective rate of taxation.

4. What documentation is required for the optional meeting?

If there is a data discrepancy, you can bring photographs that will confirm the mistake. If you are seeking a value adjustment, you can submit a recent appraisal or comparable sales in your neighborhood. Please note, the State does not allow our office to use foreclosure sales in our value analysis since it does not reflect the true value of the home.

5. When does the 2009 value go into affect?

Your 2009 value will go in affect on your January 2010 tax bill. (We pay a year behind in our taxes - 2009 taxes are paid in 2010, etc.)

6. Can someone attend the optional meeting on my behalf?

Yes. You may have a family or friend represent you at the optional meeting.

7. I have multiple properties I would like to discuss. How can these be scheduled?

We suggest that you wait until you receive all your value notifications and schedule your appointments at a convenient location. Please note that you will be allotted 15 minutes per parcel. You may also schedule an appointment with an appraiser at One Government Center through October 2, 2009 from 8 a.m. - 4 p.m.

8. There are several foreclosures in my neighborhood, do those sales affect my new value?

The State does not allow our office to use foreclosure sales in our analysis since they are not arms-length sales. An arms-length sale is between a willing buyer and seller, no pressure from either party, and full disclosure of all knowledge and facts concerning the property.

9. What is Fair Market Value?

Fair Market Value is the probable price a property will sell for in an open market, between a willing buyer and seller; no pressure from or on either party; and both parties have full knowledge and facts concerning the property. Our findings are then compared with the State's findings to determine the Fair Market Value.

10. Can I schedule my appointment in another neighborhood location?

To fully serve the citizens of Lucas County, we encourage property owners to try to make their scheduled location. Other options include filing a Property Review over the phone with a staff member (419-213-4406); filing online; or schedule a 15-minute meeting at our office at One Government Center, Suite 600 between 8 a.m. - 4 p.m., Monday through Friday (deadline October 2). However, we will make every attempt to accommodate your schedule.

11. Can I get my new 2009 value before my letter is mailed?

Values are released in conjunction with the mail date. We are unable to research value information before your mail date.

12. Who determines my new value?

It is the job of the County Auditor to determine the affects of property values looking back three years (2006 - 2008) of sales data to determine property values as of January 1, 2009.

13. If the market values of properties have significantly decreased, how does that affect my new value?

Because property values do not change uniformly, some values will rise, some will stay the same, and some will decrease. This could depend on the area where your property is located.

14. What causes the differences in values?

The differences are caused by economic trends that vary from neighborhood to neighborhood, and vary also among types of property. The condition of a property at the time of sale can also cause a difference. As our valuation process is sales based, and all homes are different, values based on sales will vary from property to property.

15. What causes a change in value?

Other facts, besides variations in market value may cause a change in valuation. One such fact may be an alteration or change in the property, such as new construction not previously reported: new siding, buildings added or removed, interior finish added to basement or garage, new pole building constructed, etc.

16. Will the Triennial Update increase my property taxes?

This state-mandated triennial update is not a process to increase or decrease property taxes. The major reason for increased property taxes is tax levies approved by the voters.

17. What can I do to ensure my value is correct?

The triennial update is significantly impacted by real estate sales in a particular area. It is important for property owners to check their property data (i.e., number of bathrooms, total living area - TLA) to make sure there are no discrepancies in our records.

18. How are the neighborhood groups determined?

The neighborhood groups typically follow jurisdictional boundaries. However, due to the size of the City of Toledo, this area is broken down into multiple groups of similar neighborhoods.

19. I did not receive my value notice in the mail?

If you filed a Board of Revision (BOR) complaint this year, you will not receive your notice until after your BOR decision letter has been mailed. If you did not file a BOR and still have not received your notice, please call our Education and Outreach Department at (419) 213-4406.