Tax Rules: Final: 5703-25
5703-25-13 Review of appraisal
(A) Following the initial inspection and extension of true
values on the property record card, and prior to submitting
the returns to the county board of revision as required by
section 5715.16 of the Revised Code, each parcel of real
property shall be reviewed in the field by competent
appraisers. The purpose of this review is to insure that each
property has been valued uniformly in relation to other
properties at true value as defined in rule 5703-25-05 of the
Administrative Code, so that when the values of land and
improvements are added together, the resulting value
indicates the true value in money of the entire property.
(B) In making this review all factors affecting value shall
be considered including:
(1) Mathematical accuracy.
(2) Land classification and pricing
(3) Listing accuracy:
(a) Building measurements
(b) Construction features
(c) Construction quality grade
(d) Use of proper price schedule.
(4) Proper application of depreciation and obsolescence.
(5) Sales of comparable property for like use.
(C) If the reviewer finds that a property or properties have
not been valued at true value, the reviewer shall make the
corrections needed to obtain the correct values and shall
place said corrected values on the property record.
(D) As part of the appraisal review the county auditor shall
prepare or have prepared an analysis of recent real estate
transactions comparing the appraisal value to the prices paid
for real property to determine whether all real property in
the different subdivisions, neighborhoods and classes have
been appraised uniformly at one hundred per cent of true
Promulgated under: 5703.14
Authorized by: 5703.05
Amplifies: 5713.01, 5715.01
Prior effective dates: 12-28-73, 11-1-77, 10-20-81 as