Trumbull County auditor releases tentative new property values

Valuations to be used in calculating tax bills

WARREN -- Trumbull County Auditor Martha Yoder on Friday released new tentative property values reflecting the market value of properties as of Jan. 1, 2023.

The valuations will be used in calculating tax bills due next year. Property tax amounts will be available in mid-January.

The values are based upon the market value and are the result of the six-year mass reappraisal mandated by the Ohio Revised Code, Yoder states in a news release. The reappraisal process began at the end of 2021.

"As most people are aware, the market values of properties have increased. Because of the complexity of property taxes and the fact there are 23 levies on the ballot for November, predicting the exact effect on taxes is not realistic at this time," Yoder states.

She emphasized that the county auditor does not raise taxes.

"Property taxes are either voted on by the citizens of a taxing district or authorized by the Ohio Constitution and applied to the property values," the release states.

She said individual tentative values are now available on the auditor's website at https://www.co.trumbull.oh.us/auditor and searching by address or parcel number.

Residents who disagree with their proposed 2023 value can schedule an informal hearing on the website or by calling 330-675-2895. The hearings will take place Oct. 30 through Nov. 3. For the informal hearing, homeowners should bring any documentation that would support their opinion of value.

This could include purchase/sale documents, a current 2023 fee based appraisal, photos, cost estimates for improvements, etc. Only new values will be discussed. The appraiser will discuss property values only and will not discuss taxes.

The property values at this time are tentative, Yoder said.

"Legislation pending in Columbus, as well as other factors, may have an impact on final property values," the release states.

Ohio law requires all county auditors to establish a current value of real property once every six years. As a result, contracted appraisers were engaged to review every parcel in Trumbull County.

The 2023 property reappraisal involved a visual inspection of the outside conditions of a property relative to other properties in the neighborhood and other characteristics.

Recent sales of similar properties are one of the most significant characteristics of real estate that drives its market value. Even if a home has not been on the market for many years -- or has never been on the market -- its new value will reflect recent sale prices of similar homes in its neighborhood. Additionally, location is an important measure used by appraisers in determining market values.

Property is worth what someone will pay for it and market conditions might be different in each neighborhood.

Physical characteristics such as age and condition of the home and other attributes; square feet of living area; size of lot; finish in basements; number, type, size and condition of outbuildings; number of baths; quality of workmanship and construction; style of home (one-story, two-story, bi-level, split-level); and recent substantial improvements will affect market value.

The 2023 property reappraisal is not intended to increase or decrease taxes, but to keep property values up to date with Trumbull County's real estate market.

"While a change in value may impact your tax bill, that is not the goal. The only goal of the Trumbull County Auditor's office is to complete the most accurate assessment of property possible," the auditor's website states.

As a result of a reappraisal, tax rates are adjusted to collect the same amount of revenue as was collected the year before on all voted millage.

Additional revenue may only be raised with the approval of the voters. The only part of the tax rate that is allowed to rise or fall directly with value is referred to as inside millage and amounts to no more than 10 mills, the website states.

Millage is equal to one dollar for each $1,000 of taxable valuation. In Ohio, property taxes are assessed on 35% of the appraised market value. The value on which taxes are assessed is known as the "taxable" or "assessed value."

For example, one mill levied on a home with a taxable value of $35,000 ($100,000 appraised market value) would generate $35 in revenue.