The 2023 Revaluation Explained
A 2023 property reappraisal led to an average 30% increase in property values across Ohio, bringing renewed public attention to how property taxes are calculated.
A 2023 property reappraisal led to an average 30% increase in property values across Ohio, bringing renewed public attention to how property taxes are calculated. A 30% increase in property value does not necessarily mean a property owner’s taxes rise by that amount, explained Geauga County Auditor Chuck Walder. “All of the voted levies that people vote for, all of them do not change with valuation,” he said. “The collection rate does not change. It only changes with new construction. The component that changes is inside millage.” When property values increase, inside millage automatically rises with the valuation, Walder said....
