05/02/2018
Please take time to read the following article regarding Issue 7 as submitted by the Hancock County Auditor in today’s Courier.
MARKET VALUE USED FOR LEVY ESTIMATE
The Hancock County auditor’s office has been receiving phone calls asking for clarification on the Job and Family Services levy. I would like to thank those who are calling about information showing up on their doors that is contrary to information that we have shared with The Courier and have posted on the auditor’s website.
A Thursday letter to the editor used calculations for the levy that are confusing.
Apparently, property owners are receiving notes on their doors with information that someone with a $100,000 home would pay a $120 tax for the 1.2-mill JFS levy. This would be true only if the market value is around $285,700, per the auditor’s property records.
The auditor’s office uses, as a general rule of thumb, market value for calculating levy tax information. Most property owners are aware of their market value, the amount they would/could sell their property, rather than the “assessed value” for taxation.
By our calculations, the levy, if approved, would cost the owner of a $100,000 market-valued home $42 more per year.
If using the term “assessed value,” as the letter writer did April 26, one must then convert the assessed value to market value.
The assessed valuation for Ohio taxation is 35 percent of market value. The letter to the editor provided information for a home with an assessed value of $100,000. That same home would have a market value of over $285,000.
According to my statistics, the majority of residential homes in Hancock County do not have a market value of around $285,000, therefore we do not use this basis for information.
The auditor’s REGIS Online (http://co.hancock.oh.us/government-services/auditor/property/property-tax-estimator/), features a calculator available for any taxpayer to calculate any new tax using their own value or any other applicable market value that interests them. To use the tax estimator feature for a parcel, place an amount in the box, calculate, and the estimator will indicate if the property has levies to be voted on in May with the estimated amount.
Charity Rauschenberg
Hancock County auditor
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