Tony and I returned from vacation on Sunday. On Monday, I tackled a mountain of mail being held by the post office. The item I was most interested in was the notice from Joe Testa’s office (Franklin County Auditor) announcing the proposed valuation of our home for 2008. Yours was probably just like mine – it shows no increase in valuation from 2007.
2008 is the year for the triennial update of property valuation in Franklin County. While we saw gains in the local real estate market in both 2005 and 2006, we’ve basically given it all back in 2007 and 2008. As a result, property valuations will remain at their previous level rather than increase as they usually do every 3 years. This should mean a zero tax increase for homeowners. However, New Albany has several levies on the ballot in November which will raise taxes slightly but the increase will be based on the valuations set 3 years ago.
Because there have been some dramatic shifts in the real estate market, you may still feel that your home is overvalued. If so, there is an opportunity to meet with representatives from the auditor’s office during the next month to discuss your valuation or to petition for a reduction in your home’s valuation. The review in New Albany will take place Thursday, August 28th at Church of the Resurrection, 6300 E Dublin Granville Road, New Albany, 2pm – 8pm. Call the auditor’s office at 614-462-4663 to schedule a time for your review.
Please let us know if you would like our office to provide you comparable sales information that you might use to justify a reduction. We are happy to do that as a service to our clients as well as to those who may become new clients some day! You can call me at 614-939-8945 or by email at email@example.com.