Ohio Admin. Code 5703-25-13 - Review of appraisal
(A) Following the initial inspection and
extension of true values on the property record card, and prior to submitting
the returns to the county board of revision as required by section
5715.16 of the Revised Code,
each parcel of real property shall
will be reviewed in the
field by competent appraisers. The purpose of this review is to insure
that each property has been valued uniformly in relation to other properties at
true value as defined in rule
5703-25-05 of the Administrative
Code, so that when the values of land and improvements are added together, the
resulting value indicates the true value in money of the entire
property.
(B) In making this review
all factors affecting value shall
will be considered including:
(1) Mathematical accuracy.
(2) Land classification and pricing
(3) Listing accuracy:
(a) Building measurements
(b) Construction features
(c) Construction quality grade
(d) Use of proper price schedule.
(4) Proper application of
depreciation and obsolescence.
(5)
Sales of comparable property for like use.
(C) If the reviewer finds that a property or
properties have not been valued at true value, the reviewer
shall
will
make the corrections needed to obtain the correct values and
shall
will
place said corrected values on the property record.
(D) As part of the appraisal review the
county auditor shall
will prepare or have prepared an analysis of
recent real estate transactions comparing the appraisal value to the prices
paid for real property to determine whether all real property in the different
subdivisions, neighborhoods and classes have been appraised uniformly at
one hundred per cent of true
value.
Notes
Promulgated Under: 119
Statutory Authority: 5703.05
Rule Amplifies: 5713.01, 5715.01
Prior Effective Dates: 12/28/1973, 11/01/1977, 10/20/1981, 09/18/2003, 10/03/2016
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.