Property Valuation
In Ohio, who may challenge a county auditor's property valuation?
AOnly the county auditor can change the valuation
BProperty owners may file a complaint with the County Board of Revision✓ Correct
COnly licensed appraisers may challenge the valuation
DChallenges must be filed with ODREPL
Explanation
Ohio property owners who believe their assessed value is incorrect may file a complaint with the County Board of Revision (BOR), an independent panel that reviews valuation disputes.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Math Concepts
State-Specific Concepts
DRE Regulation
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