Tax bills will reflect reappraisal

Property owners may see their first tax increases since 1999.
By DEBORA SHAULIS
VINDICATOR STAFF WRITER
YOUNGSTOWN -- Higher taxes may be a sign of the times, but increases in Mahoning County's real estate taxes are a sign of a solidifying market.
"Values follow the market," says Auditor Michael V. Sciortino of results of the latest appraisal of real property in the county --165,000 parcels, with an estimated combined value of $4.18 billion.
Ohio law requires counties to determine fair market value of all real property every six years in order to equalize values. Appraisers began that process about two years ago.
The new values will be applied to real estate bills for tax year 2005, which will be collected this year. First-half tax bills will be mailed by the treasurer's office by Feb. 18.
"The values have come up quite a bit," said Anne Marie Vross, director of taxation in the auditor's office.
On average, single-family home values in the county have increased 13 percent, while property tax bills will be about 5 percent higher, she said.
"The last three years were better than the earlier three years," said George Briach, an assistant county prosecutor overseeing real estate matters. He was referring to a triennial, or three-year appraisal in 2002, which also is required by state law.
Property values didn't increase after that appraisal, which chief appraiser Bob Rimedio said was unusual but probably attributable to the post-Sept. 11 economy.
Improvements
The market improved as home loan interest rates dropped and the local housing market remained affordable, Briach and Rimedio said. New property values also reflect the prices that buyers and sellers have been negotiating.
As a result, the latest appraisal may mean the first tax increase for property owners since 1999.
Some of the real estate growth is from agricultural land that has been sold for commercial developments, Rimedio said, citing sales in Beaver, Canfield, Green, Milton and Goshen townships as examples.
Austintown Township leads the county in new housing construction, Vross added.
Property owners around Lake Milton will see increases in their land value because of high sales of lakefront property, Rimedio said. Land that previously sold for about $30,000 is now selling for $300,000 as speculators anticipate more development, he said.
Real estate tax increases aren't as high as property value increases because of rollbacks.
For example, property owners receive credits on voted tax millage as values increase so that they don't pay more than what a levy was intended to collect.
Deadline for complaints
Property owners have until March 31 to file complaints about the new values with the county auditor's office. Complaints will be reviewed by the county's Board of Revision.
Sciortino hopes property owners will first talk directly with appraisers at a temporary office in the Southern Park Mall, in the concourse between J.C. Penney department store and the mall's California Avenue entrance. That office will be open from 10 a.m. to 7 p.m. weekdays and from 10 a.m. to 2 p.m. Saturdays through March 31. Appointments are not necessary but available by calling the auditor's office at (330) 740-2010.
Commercial property owners who have questions about new property values should call the auditor's office to make appointments with appraisers.
The state Legislature last June eliminated a 10 percent real estate tax rollback on commercial and industrial properties, which may result in higher taxes on those parcels, Vross said.
New values of all county properties should be available after Tuesday on the auditor's Web site, www.mahoningcountyauditor.org.
shaulis@vindy.com