YOUNGSTOWN — Mahoning County property owners now can get a tentative market value for their properties.

Auditor Ralph T. Meacham encourages owners to look at the new tentative property values, which reflect the market value of the property as of Jan. 1, and which will be used in the calculation of tax bills due next year.

Property tax amounts will be available in mid-January.

In July, Meacham estimated the value of properties has increased by an average of 30% in the last three years, compared with 13.1% for the three-year period before that. At the time, he expected one-third of homes in Mahoning County will see their property taxes increase as a result of the reappraisal, one-third will stay the same, and one-third will drop.

The new tentative values, however, show a total average residential increase of 38.1%.

The greatest increases appear to be in Boardman (Youngstown City School District, YCSD) 58.7%; Youngstown (YCSD), 57.9%; Struthers (Struthers School District), 51.3%; and Campbell (Campbell School District) 50%.

Lesser increases are in Coitsville (Campbell School District), 6.1%; Beaver Township (South Range School District), 20.1%; Beaver Township (Columbiana School District), 21.7%; and Beaver Township, (Canfield School District), 22.8%, according to the chart.

Taxpayers can obtain their new tentative property values at www.mahoningcountyoh.gov, or by calling 330-740-2758.

HOW MUCH TAX?

Meacham cautioned that does not mean property taxes will rise by the percent listed. A mechanism in Ohio law dating back to 1976 called House Bill 920 keeps inflation from significantly increasing the amount of property taxes a homeowner pays, regardless of whether property values increase or decrease in a neighborhood.

Because of the leveling effect of HB 920, Meacham said he would expect that one-third of homes in Mahoning County will see their property taxes increase as a result of the reappraisal, one-third will stay the same and one-third will drop. Property taxes typically are due in March, Meacham said. The reappraisal will affect property taxes paid in 2024.

Issues that could raise a person’s property taxes are if new tax levies have been approved recently or if the person added onto the home recently. Property taxes also can rise modestly because of increases in “inside millage,” which is up to 10 mills of unvoted property tax. In most places in Ohio, the full 10 mills of inside millage is levied annually.

WHY NOW?

Ohio law requires all county auditors to establish a current value of real property once every six years. As a result, contracted appraisers were engaged to review every parcel in Mahoning County.

Meacham has released the tentative market values for tax year 2023 countywide real estate reappraisal for taxpayers to review.

Ohio law defines “fair market value” as the price a property would likely sell for in the open market.

For this purpose, according to Meacham’s office, an analysis of valid sales of comparable properties in similar neighborhoods resulted in a fair market value being placed on a property. A valid sale is defined as a transaction between a willing buyer and a willing seller, neither being under any pressure, both having full knowledge of all relevant facts about the property and the uses to which it may be put.

Property is then taxed at the assessed value, which is 35% of the fair market value.

The tentative values do not include any adjustments for new Current Agricultural Use Value soil values, new construction, demolition, splits or plats, or any board of revision decisions. The adjustments will be included in the final abstract sent to the Ohio Tax Commissioner in November.

TAXPAYER RIGHTS

Taxpayers have the right to know how the county established this value on their property, Meacham said. The auditor’s office will hold informal review sessions in October, and if needed, in November, for those taxpayers who wish to speak to an appraiser regarding their new tentative value.

Taxpayers can schedule one of these sessions through the auditor’s website or by calling 330-740-2758. The sessions can be done as a virtual meeting or a phone call.