June Cassano, Home Owner in Rocky River, OH

How accurate are the assigned county values for the city of Rocky River?

Asked by June Cassano, Rocky River, OH Tue Apr 17, 2012

When it lists your market value in the tax info section on the property appraiser site, is that close to the true market conditions now?

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Tari Torch S…, Agent, Woodmere, OH
Wed Apr 18, 2012
Not very. The reason is because the market was so bad, and the home prices dropped dramatically, but in many cases the tax asessments did not keep up, so to speak. It's one thing to have your taxes go up, and another to show that since market dropped, the house should be dropped as well. Cities depend upon those monies. 5 years ago they were "lower" than what homes could sell for....everywhere, not only River. NOW, when you see the "Real Market Value" that the tax legal puts on the property, it is usually pretty low, and should be higher. It changes continually. I would be more cognizant of the home sales around you than of the tax legal. All Realtors know this, as well, when they list a home. We do not depend upon the tax assessments. It's a PART of the entire pricing possibility, but not a key factor. And, of course, we are not seers, and cannot see what it should be totally...the market, and buyers, dictate the selling price, ultimately.

Hope that helps.

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Dominic Pici…, Agent, Strongsville, OH
Tue Apr 17, 2012
Property tax values are for the purpose of establishing taxes due, and not to indicate value of a home for re-finance or sale purposes. A tax value is established when either the county does it's assessments or when it is eventually adjusted from a recent sale.

These values will not adjust along with the real estate market, so the accuracy of the tax value will be less precise over time. The best way to determine the value of a home is to have a real estate agent perform a market analysis and/or have an appraisal performed.

Dominic Picione
Keller Williams Realty
0 votes
Catherine Mi…, , Middleburg Heights, OH
Tue Apr 17, 2012
It depends on the recent sales or comparables. The County is getting ready to re-assess the property values this summer (required to do so by the State every three years). Every homeowner can argue tax value every year from January - the end of March if they feel that their property has been assessed for taxes incorrectly. You can have a Realtor run some comparables for you to see if you were to list your property today, would you be able to get the tax assessed value. You can also order an appraisal to check the value as well.
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