Your Franklin County Property Value Just Changed. Here's What It Actually Means.

If you've opened your mail recently, you've probably seen your updated property value from the Franklin County Auditor.

Mine increased by $27,000.

Naturally, my first question was the same one many homeowners have:

"So...how much is this actually going to cost me?"

Instead of guessing, I used the Franklin County Auditor's online tax estimator. Based on my home's new value, my property taxes are projected to increase by approximately $500 per year.

If you haven't checked yours yet, I highly recommend taking a few minutes to do so.

Here's how: 

Step 1: Visit Franklin County property search site. 

Step 2: Search by your address or name. 

Step 3: Click the "tax calculator" button on the left hand side of your property page

Step 4: Click on "estimate your property tax"

Step 5: Type in your new proposed value under the "proposed" column

Step 6: Select a "credit type" if applied. For example you received a tax credit for owner occupied so be sure to select that. 

Step 7: Click the red "calculate" button

Step 8: Scroll down and you will see your current assessed taxes compared to your estimated future amount. 

A few important things to know

Your property value is not the same thing as your property tax bill.

Your home's market value may have increased, but your taxes are also influenced by your local tax district, voter approved levies, and how property values changed across your community.

That means two homeowners with similar value increases could see different tax impacts.

This year's update is different than 2023

This is Franklin County's required triennial update, which happens every three years.

Rather than physically inspecting every home, the Auditor analyzed recent home sales throughout the county to estimate today's market values.

The county reports that residential values increased by about 9% on average, although every neighborhood is different and some homes changed much more or much less.

Think your value is incorrect?

Don't assume you're stuck with it.

If your new value doesn't reflect what you believe your home would reasonably sell for, Franklin County allows homeowners to request an informal Property Value Review before values become final.

Need help making sense of it?

One of the questions I hear most often is:

"Does this mean my home is really worth that much?"

Sometimes the answer is yes.

Sometimes it's not.

If you'd like a second opinion on whether your new county value aligns with today's market, I'm happy to compare it with current neighborhood sales and give you my thoughts. No pressure. Just good information so you know where you stand.

Whether you're thinking about selling this year or simply trying to understand your biggest investment a little better, I'm always happy to help.

Margaret Lipp | RE/MAX Premier Choice

Serving Upper Arlington, Dublin, Worthington, Clintonville, Hilliard, Powell, and all Central Ohio communities

This article is provided for general informational purposes only and should not be considered legal, tax, or financial advice. Property tax estimates are based on information provided by the Franklin County Auditor and may change as tax rates, levies, or other factors are finalized. If you have questions regarding your tax situation, please consult the Franklin County Auditor's Office or a qualified tax professional.