Tax Data Series

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).

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