The real-estate tax collection begins with the assessment of real-estate parcels in Franklin County. Ohio law requires counties to revalue all real property every six years with an update at the three-year midpoint as ordered by the Tax Commissioner of the State of Ohio. The only changes to a property's value outside of the three-year cycle would be due to:
- Physical changes to the property (improvements such as the addition of a porch, patio, deck, etc.)
- Demolition of an existing structure
- A decision by the Franklin County Board of Revision to change a value based on a filed complaint
Real-estate tax rates are determined by the budgetary request of each governmental unit as authorized by the vote of the people. They are computed in strict accordance with procedures required by the Division of Tax Equalization, Ohio Department of Taxation.
A real-estate tax bill is based on the tax rate multiplied by the value of the property. This would be the property owner's proportional share of the cost of operating your local government.
Because real-estate taxes can be deducted on a property owner's federal income taxes, many taxpayers pay all of their tax charges by December 31st of each year.
REAL-ESTATE TAX DUE DATES
Owners of real estate and manufactured homes in Franklin County have the option of paying their annual property taxes in one installment early each year, in two installments (early and mid-year) or in monthly installments. Collection dates for 2024 are:
- First-Half Payments: January 31, 2024
- Second-Half Payments: June 20, 2024