As the negative economic effects from the pandemic continue to linger, commercial property owners in Ohio have once again had a difficult year. Many owners experienced lost incomes, high vacancy rates, and increased rent defaults. These factors make seeking guidance from a qualified property tax expert during the assessment period more important than ever.
The deadline for filing a complaint against the January 1, 2021 assessment of your real property in Ohio is March 31, 2022. Many counties in Ohio, listed below, have conducted a full sexennial reappraisal or triennial update to set new values for tax year 2021.
Full Sexennial Reappraisal Counties: Allen, Coshocton, Guernsey, Sandusky, Vinton
Triennial Update Counties: Belmont, Brown, Crawford, Cuyahoga, Erie, Fayette, Highland, Huron, Jefferson, Lake, Lorain, Lucas, Morgan, Muskingum, Ottawa, Portage, Stark, Warren, Williams
We recommend our clients carefully weigh their options when considering whether to challenge their tax year 2021 valuations. Not doing so could result in higher than necessary values over the next three years in counties that have recently reappraised or updated their property values.
The local tax experts at Ryan can provide assistance with the management and mitigation of all your current year real property taxes. We can also recommend and implement a comprehensive range of proactive strategies designed to address future reassessments.
If you would like to learn more about how Ryan can assist your company or to schedule a no-obligation appointment, please contact our local office today.
TECHNICAL INFORMATION CONTACTS:
Kenneth Hartman
Principal
Ryan
312.980.1128
ken.hartman@ryan.com
Wan Kyu Park
Director
Ryan
216.685.9448
wankyu.park@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.
- Topics
- Kenneth M. Hartman
- Property Tax
- Ohio