News and Insights

Ohio Commercial Real Estate Owners Should Prepare for Assessment Increases Across All Industries

Tax Development Jan 19, 2024

Ohio Commercial Real Estate Owners Should Prepare for Assessment Increases Across All Industries

Reassessment notices have been sent to 41 out of the 88 counties in Ohio covering major areas, including Columbus, Cincinnati, Dayton, and Akron. Commercial property owners across every sector have experienced significant increases in property valuations. The experts at Ryan see the below average increases in Franklin County and anticipate similar numbers across the state.

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While informal hearings have already taken place, property owners still have time to submit an appeal. The official appeal deadline for the 2023 revaluations is April 1, 2024. Ryan has a local team of experts that possesses extensive knowledge and experience in navigating Ohio’s complex property tax system. We can offer valuable insights on exemptions and challenges related to property valuation, as well as presenting strategies to help reduce your tax obligations.

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TECHNICAL INFORMATION CONTACTS:

Ken Hartman
Principal
Ryan
773.255.2308
ken.hartman@ryan.com

Wan Kyu Park
Director
Ryan
603.661.8428
wankyu.park@ryan.com

Cory Harless
Senior Manager
Ryan
440.669.0078
cory.harless@ryan.com

The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.