Real Property
Real Estate Sales Ratios
By Class of Property and by County, Calendar Year
2000
Under state law and Ohio Department of Taxation rules, real
property in all counties is reappraised at 100 percent of
market value every six years and updated the third year after
each reappraisal. Thirty-five percent of the market value
represents the assessed or taxable valuation of real
property.
In order to verify that real property is being assessed at or
close to 35 percent of market value, the Department of
Taxation surveys real property transferred in each of Ohio's
88 counties. Sales ratios are calculated by dividing the
total assessed (taxable) value of the transferred properties
by the total consideration (sales price) paid for those
properties.
The attached tables show a summary of sales ratios and
numbers of sales for the four classes of property:
agricultural, industrial, commercial and residential. The
counties listed were either reappraised or updated in the
years 1998 through 2000. These tables do not include property
transfers which would make the ratios unrepresentative of
sales activity in the area.
The survey for the first six months of 2000 included 69,815
property transfers, of which 66,010 were residential property
transfers. The statewide sales ratio (for sales of all
classes of property) was 30.49. Industrial property transfers
had the highest statewide ratio (31.08) while agricultural
property transfers had the lowest statewide ratio (27.42).
The survey for the second half of 2000 included 72,520
property transfers, of which 69,000 were residential property
transfers. The statewide sales ratio (for sales of all
classes of property) was 29.96. Residential property
transfers had the highest statewide ratio (30.07) while
agricultural property transfers had the lowest statewide
ratio (27.59).
View both ps1cy00 and ps2cy00 PS12CY00.PDF