As covered this week in the Cleveland.com article, "Cuyahoga County home values increase 16% in 2021 reappraisal," results of Cuyahoga County's triennial reappraisal are arriving in mailboxes this week. The article lists the city-by-city valuation table provided in the dark green box on this page. Cities averaging a 20% or more increase in their new 2021 Market Values are highlighted and include Brook Park (25% increase), Brooklyn (20% increase), Cleveland (23% increase), Fairview Park (22% increase), Garfield Heights (22% increase), Highland Hills (20% increase), Lakewood (27% increase), Maple Heights (29% increase), North Olmsted (20% increase), North Randall (20% increase), Parma (24% increase) and Parma Heights ( 22% increase).
How Much Do Property Taxes Increase with Market Value?
In your 2021 Value Notice you will see a paragraph that indicates an increase in your new market value will not equal a "comparable increase in the amount of taxes owed." We used the "Property Tax Estimator" recommended in the 2021 Value Notice letter to crunch some numbers. In this example a North Olmsted home owner's 2020 Market Value of $123,700 increased to $152,200, or 23% increase. Using the Property Tax Estimator, this homeowner can anticipate a 10% increase in their property tax bill, from $3,594 to $3,900 - an additional $306.
Evidence Accepted for Property Tax Appeal / Complaint
If you think your 2021 tax assessment is too high and you would like to challenge your new market value, the 2021 Value Notice letter instructs property tax payers to file a "DTE 1 Form - Complaint Against Valuation of Property. between January 1, 2022 and March 31, 2022. Additional evidence supporting your appeal will be needed. Types of evidence can include (listed on Cuyahoga County Board of Revision):
- Arms-length sale, documented by recorded deed, closing statement (HUD-1), purchase contract, and/or conveyance fee statement (DTE 100).
- Recent appraisal report of the subject property made for tax valuation purposes, and authenticated by the appraiser during the hearing. Other opinions of value may be considered and given consideration.
- Certified estimates from a contractor for repairs cited on the complaint. Major structural issues may affect the value of the property while regular maintenance needs (new roof, new driveway) are typically factored into the existing current value based on the age/condition of the property.
- Dated interior/exterior photos of the property and comparable properties showing the condition.
- New construction costs certified by the builder and should include both hard and soft costs.
- Tax Map, Topography Map or Plat Map, showing the subject property.
Residential Property Value Increases in Cuyahoga County
Bay Village: 16%
Bedford Heights: 17%
Broadview Heights: 12%
Brook Park: 25%
Brooklyn Heights: 18%
Chagrin Falls: 15%
Chagrin Falls Township: 0%
Cleveland Heights: 11%
East Cleveland: 6%
Fairview Park: 22%
Garfield Heights: 22%
Gates Mills: 3%
Highland Heights: 7%
Highland Hills: 20%
Hunting Valley: 0%
Maple Heights: 29%
Mayfield Heights: 14%
Middleburg Heights: 16%
Moreland Hills: 9%
Newburgh Heights: 7%
North Olmsted: 20%
North Randall: 20%
North Royalton: 13%
Olmsted Falls: 16%
Olmsted Township: 10%
Parma Heights: 22%
Pepper Pike: 6%
Richmond Heights: 11%
Rocky River: 19%
Seven Hills: 19%
Shaker Heights: 5%
South Euclid: 18%
University Heights: 15%
Valley View: 10%
Walton Hills: 18%
Warrensville Heights: 18%
At Fast Appraisals we not only perform the tax appeal appraisal, we have also been in front of the Cuyahoga County Board of Tax Appeals many times in order to explain our valuation. We provide appraisal values with confidence and welcome the opportunity to explain our valuation to the Board whenever necessary.
What If House Appraises Higher than 2021 Valuation?
We know when you're buying a home appraisal for a tax appeal you aren't looking to waste our time or your money, so we do brief preliminary research and ask the property owner some key questions before moving forward with the home appraisal appointment. Some key questions might include:
Questions to Ask Yourself Before Buying an Appraisal:
- Why do you think the property value assessed by the county is too high?
- Do you think it would be reasonable to sell your home for the value assessed by the county?
- If not, why? Has there been damage to your home or substantial deferred maintenance the county may not be aware of i.e. flood damage, mold issues, outdated/dysfunctional kitchen or bath, foundation issues, etc?
- Has there been factors negatively impacting your neighborhood - vacant homes, foreclosed homes, etc?
If your home has not suffered from damage, deferred maintenance or neighborhood factors that would make selling the house at its tax assessed value near absurd and if other homes similar to yours, within a few miles, and in similar condition, are selling for the tax assessed value, it is unlikely that the county has over-valued your home.
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