Ohio § 5715.24

§ 5715.24.

(A) The tax commissioner, annually, shall determine whether the real property and the

various classes thereof in the several counties, municipal corporations, and taxing

districts which have completed a sexennial reappraisal in the current year and which

will have the new taxable values placed on the tax list and duplicate have been assessed

as required by law, and whether the values set forth in the agricultural land tax

list in such taxing districts correctly reflect the true and agricultural use values

of the lands contained therein.  The determination shall be made prior to the first Monday in August unless the commissioner,

for good cause, extends the date.  If the commissioner finds that the real property or any class thereof in any such

county, municipal corporation, or taxing district, as reported to it by the several

county auditors of the counties that have completed such reappraisal is not listed

for taxation or recorded on the agricultural land tax list in accordance therewith,

the commissioner shall increase or decrease the appropriate aggregate value of the

real property or any class thereof in any such county, township, municipal corporation,

taxing district, or ward or division of a municipal corporation, by a per cent or

amount that will cause such property to be correctly valued on the agricultural land

tax list and to be correctly assessed on the tax list at its taxable value so that

every class of real property shall be listed and valued for taxation and valued for

purposes of sections 5713.33 to 5713.35 of the Revised Code as required by law.  In determining whether a class of real property has been assessed at its correct

taxable value and in determining any per cent or amount by which the aggregate value

of the class from a prior year shall be increased or decreased to be correctly assessed,

the commissioner shall consider only the aggregate values of property that existed

in the prior year and that is to be taxed in the current year.  In addition to any other adjustments the commissioner considers necessary to comply

with this requirement, the value of new construction shall not be regarded as an increase

in such aggregate value from the prior year, and the value of property destroyed or

demolished since the prior year shall be deducted from the aggregate value of that

class for the prior year. In implementing any increase or decrease in valuation of real property ordered by

the commissioner pursuant to this section, the county auditor shall, when practicable,

increase or decrease the taxable valuation of parcels in accordance with actual changes

in valuation of real property which occur in different subdivisions, neighborhoods,

or among classes of real property in the county. (B) Division (A) of this section also applies to a county in the third calendar year

following the year in which a sexennial reappraisal is completed.