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2009 Triennial Summary

Neighborhoods

What's My House Worth?

Property taxes in Ohio are based on an estimate of the fair market value of each parcel of real estate. State Law requires each County Auditor to maintain in his/her files a current appraisal for each property in the county. In order to keep these values up-to-date, a six-year general reappraisal cycle was instituted.

In an effort to maintain this up-to-date appraisal, the county is also required to re-examine values at the three-year midpoint of the appraisal cycle. This examination of values, called the Triennial Update, is done on a "neighborhood" basis by comparing property sales over the past three years with the county's value from the previous reappraisal. Using this data, both the state and the county create a sales ratio study and these reports are then reconciled. This reconciliation determines a percentage adjustment for each neighborhood. If, on the average, properties are selling for more than the county's appraisal, all values within the neighborhood are raised by the percentage to get them closer to 100% market value. Likewise, if properties are selling for less, values are reduced.

A general reappraisal differs from an update in that during a reappraisal, all properties are valued individually. During an update, entire neighborhoods are adjusted by computer analysis on a percentage basis.

Click the links below or select a City to find specific Neighborhood maps

View Full County Map of Neighborhoods

Find a Neighborhood by City:
 
Information on this site is believed to be accurate but is not guaranteed. The Lorain County Auditor disclaims any liability for errors and omission. External links to other sites are intended to be informational and do not have the endorsement of the Lorain County Auditor.
Mark Stewart
Lorain County Auditor

Lorain County Admn. Building
226 Middle Ave., 2nd Floor
Elyria, OH 44035
Phone: (440) 329-5207
Email: auditor@LorainCounty.com
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