Tax Value Decrease, What Does It Mean to Me?

Posted by Shanna on Aug 31, 2011 in Blog, Buying Real Estate, Local News, Selling Real Estate | 0 comments

The Franklin County Auditor’s office recently sent out letter notifying home owners about the new appraised values for their homes in Columbus, over 440,000 letters were sent out.  The majority of those letters gave homeowners the news that their tax bill would be going down, thanks to decreasing property values.  Some residents did receive increase notifications.

Here is where you can find your value via Franklin County Auditor

What you need to know if you are thinking about selling:

The auditor’s value means virtually nothing when it comes to the true market value of the house. Besides having misinformed buyers looking on the auditor’s site and confusing tax value with market value, which you hope their Realtor would explain, it doesn’t mean much.  The new tax values aren’t going to make your house decrease in value to that number, the market has already been affected.  I suggest getting a market analysis from a Realtor to see what your house is worth based on sold data in your specific area of Columbus.  Data is very hyper-local, even between neighborhoods.I remember back in the seller’s market when auditor tax value was always BELOW market value, now we’re having a reverse because of the buyer’s market.  

If you are thinking about selling and would like the most up-to-date information for your home, please contact me, and I’d be happy to help.

Shanna Lafontaine is a Realtor who works the Dublin, Hilliard, Powell, Worthington, and surrounding Columbus areas helping both Buyers and Sellers.

Shanna Lafontaine is a Realtor with RE/MAX Affiliates who works the Dublin, Hilliard, Powell, Worthington, Westerville, Delaware and surrounding Columbus areas helping both Buyers and Sellers.