April 19, 2021

Volume XI, Number 109

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April 16, 2021

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Time is Running Out to Contest your 2020 Property Tax Value in Ohio

The period for filing complaints to challenge 2020 property tax values in Ohio ends on March 31, 2021. For properties assessed in a 2020 county reappraisal or update, a reduction in the 2020 value may offer greater tax savings now than at any point for the next three tax years. However, the potential impact of COVID-19 on tax year 2021 values must be carefully considered.

Property tax values in Franklin, Hamilton, Montgomery, and Delaware counties, among others, saw reappraisals or updates in 2020. Many commercial property owners in these counties saw increases of 20 percent or more over their 2019 tax values. Counties in Ohio reappraise property every sixth year, and update property values every third year that is not a reappraisal year, with the schedule of counties staggered so not all counties undergo reappraisals or updates at the same time. Reappraisal or update values may continue for three or more tax years, and property owners typically have only one chance in each three-year period to challenge the county’s value.

The economic consequences of the COVID-19 pandemic may have a significant effect on the tax year 2021 value for many commercial properties. For a property located in a county that reappraised or updated values in 2020, taking account of this 2021 effect on value may require filing a complaint in 2022, and that value may apply for only two years. Because property owners typically may file only one complaint to challenge a property’s value in each three-year period, owners of overvalued property in 2020 reappraisal or update counties must carefully consider whether it is more prudent to file a complaint for tax year 2020 or tax year 2021, and whether the law may allow them to file a complaint for both years.

The deadline for filing tax year 2020 complaints is rapidly approaching, so Ohio property owners should not let the potential for a full year of tax savings pass them by without considering all options.

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© 2021 Dinsmore & Shohl LLP. All rights reserved.National Law Review, Volume XI, Number 60
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About this Author

Kelvin M. Lawrence Partner Corporate & Transactional Corporate Taxation Tax Compliance and Audit Nonprofit Organizations Tax Planning
Partner

Kelvin is a business and tax lawyer who saves clients money by minimizing their tax exposure and finding solutions to their Ohio and multi-state tax issues. He advises on taxes implicated in multi-state transactions and has resolved Ohio state income tax, sales tax, commercial activity tax, pass-through entity tax, municipal income tax, and property tax appeals. Kelvin helps his clients manage interactions with taxing authorities and get the most from the involvement of expert witnesses and consultants in tax and unclaimed property audits and controversies. He has secured significant...

614- 628-6964
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