Medina County Auditor
Michael E. Kovack
FREQUENTLY
ASKED QUESTIONS ABOUT THE 2007 REAPPRAISAL
Why was the reappraisal
conducted?
Each County Auditor is
mandated by state law to conduct a reappraisal of all real
property (land and buildings)
every six years. The reappraisal program requires that
each parcel of property in the county (which
now number more than 81,000) be physically
viewed on site to verify that the facts listed on the property
record cards in the Auditor's Office are accurate and up-to-date.
How are values
determined?
The State has analyzed every sale that
has occurred in Medina County over the past six years. They
compare these sales to the Auditor's appraised values and
determine what percentage increase must occur to
"equalize" Medina County's values with those in the
rest of the state. The State gives particular weight to the
most recent sales. Sales of repossessed or foreclosed
properties, as well as certain other sales (between
family members, with special financing, etc.)
are not considered valid sales.
Conceivably, the State could order us
to decrease values if sales were coming in below appraised
values. Even with the recent slowdown in the real estate
market, that is not currently the case in Medina County.
The bottom line is that the real estate market in Medina County
over the past 3 years has still been fairly strong, especially in
relation to the rest of the region. The new appraised values
reflect that fact.
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