Ohio Appeals Board Increases Property Tax Valuation of Taxpayer’s Unimproved Property

The Ohio Board of Tax Appeals (BTA) Sept. 25 increased the property tax valuation of Taxpayer’s unimproved property for tax year 2019. Taxpayer owned undeveloped land that was approved for single-family lot development. Taxpayer sought a valuation reduction and the Olentangy Local Schools Board of Education (BOE) filed a countercomplaint supporting the auditor’s initial valuation. The Delaware County Board of Revision reduced the assessment and the BOE appealed. The BTA noted: 1) appraisers for both Taxpayer and the BOE employed the sales comparison approach for valuation; 2) Taxpayer’s appraiser considered comparable sales in closer proximity to the subject property but ...