January 13, 2006
Timely real property tax appraisals part of 2006 Real Property Law Institute
Both Franklin and Delaware County Auditors completed their respective sexiennial reappraisals for tax year 2005 and real estate tax bills that were mailed to property owners in December reflect any adjustments to value. Many property owners were probably shocked by the size of the value increases. Commercial property owners received a double dose of bad news because in addition to the valuation adjustment, the Ohio General Assembly in Ohio's biennial budget bill eliminated the ten percent rollback for non-residential and non-agricultural properties.
Nothing can be done about the tax increase as the result of the elimination of the ten percent rollback. However, any property owner who believes that the auditor's value does not reflect the true (market) value of the property can file a valuation complaint with the county board of revision in which the property is located.
Carol Mahaffey, who practices in the area of taxation with experience in real and personal property taxation with Vorys Sater Seymour and Pease, will discuss Board of Revision filings at the 2006 Real Property Law Institute. This presentation will primarily focus on the many procedural and jurisdictional rules confronted by the preparer of a valuation complaint, including all of the many pitfalls that can challenge the unwary preparer.
Knowledge of these rules is essential because if a complaint is not jurisdictionally perfected, the property owner never gets the opportunity to present the evidence that proves the auditors' value is wrong. The presentation will also touch upon filing an appeal from an adverse decision of the county board of revision and competent and relevant evidence to prove true value.
Register online at www.cbalaw.org or phone 614/221.4112 for 2006 Real Property Law Institute on Feb. 3 and 4 for a total of 9.5 CLE hours, including 1.0 hour ethics credit. As an added bonus, Ohio Title Insurance Agent Continuing Education and Real Estate Licensee Continuing Education credit is pending.
The seminar registration fee for both days is $225 prepaid/$250 day of for members or $265 prepaid/$290 day of for non-members. Friday only is $195 prepaid/$205 day of for members or $225 prepaid/$235 day of for non-members. Saturday only prices are $85 prepaid/$95 day of for members and $115 prepaid/$125 day of for non-members. This popular program usually sells out so reserve your space early!
Lunch on Friday is included in the price of the seminar courtesy of Title First Agency, Inc.