Tim Bradford - AMMCorp.net

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Lorain County - Contesting your Taxes and/or Property Value

Here is a short Video regarding How Values and Taxes are determined, It was done by Michael E. Kovack the Medina County Auditor and the basic information presents is good.  Below you will find some links that may assist you in filing a request for review of you Taxes and Tax Value according to county records.  Please watch it then continue to the links below to determine if your property is valued correctly with Lorain County and if you are paying more taxes than necessary. 

An protests or requests for lower your Property Values in Cuyahoga County must be filed between 1/1/2009 and 3/31/2009. 

Here is the link in Lorain County Records to start the process of disputing the Tax Value on a property.  http://www.loraincounty.com/auditor/real-estate-taxes/board-of-revision.shtml

Prior to filing a protest they should look on the auditors site to see what value the property is being taxed at. Here is a link to that site. You can search the county records here.  http://oh-lorain-auditor.governmaxa.com/propertymax/agency/oh-lorain-auditor/ohlorain_homepage.asp

With the decline in property values we have seen recently, any homeowners or buyers might be able to save some money on their taxes by filing for a correction of counties tax values. 

Because of the limited window to file the requests (3/31/2009) I suggest that you look at the County valuations and it if is above what the current market justifies, file a request for reconsideration. 

Also any homeowners that are considering refinancing may want to  determine if refinancing makes sense,  There are many calculators available to do the math for you, Here is one that I have that gives you the basics and does calculations based upon how long you expect to remain in the home.    http://www.lenderbradford.com/RefinaceCalculator   I also welcome phone calls from Northern Ohio owners to assist them in determining if refinancing makes financial sense.  

I also encourage all Realtors to share this with their clients. 


Tim Bradford
Ohio Mortgage Banker LO.007173.000/ NMLS 250013
Cell: 216.324.8113 Anytime
www.GetAMortgageNow.com or www.Go2Apply.com
www.OhioHomePath.com or www.OhioRuralHomeLoans.com

Serving the Ohio Realtors and Home Buyers and Home Owners
Comment balloon 2 commentsTim Bradford • January 08 2009 08:22PM

Comments

Tim - That's a valuable information. I would recommend Ohio homeowners to take a close look at their property tax information. You will be surprised how many mistakes may be found! Starting from wrong suare footage, ending by missed exemptions, etc. Assessed value of our properties is sometimes much higher than more or less reasonable market value. It never hurts to ask for correction!

 I love your refinance calculator, too.

Posted by Svetlana Stolyarova, Local-n-Global Realty, Broker 216-548-4663 (Local-n-Global Realty, Cleveland and International Real Estate Solution) over 8 years ago

Svetlana,

Thank you for sharing your thoughts.   I see this as an opportunity for Realtors to discuss price reductions on any overpriced listings and also make their home more attractive to potential buyers.  For a potential buyer to know that the request for reduction in taxes was already started might make one home more attractive to a buyer than one where they have to wait to file for a reduction of the taxes.  How the counties will handle requests from current homeowners when they have the home on the market is the question.   

Because of the cut off dates for filing are very short, I do suggest that anyone start the request now.   It will take the counties months to review all of the requests and by that time hopefully the home will have sold and the new buyer might be able to continue the process using their contract as the justification for the re evaluation. 

Posted by Tim Bradford, NMLS 250013 over 8 years ago

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