OVERVIEW
The Franklin County Auditor's office is responsible for maintaining and updating all records that are related to real estate, including establishing values for every real estate parcel in the county. A full reappraisal of all properties in Franklin County is completed every six years, with a triennial update on the third-year midpoint of the six-year cycle to update values to reflect the current real estate market.
It is important to note that all Ohio property owners pay real estate taxes on 35% of their property’s appraised value. This is then multiplied by the effective tax rate of voted levies to obtain the amount of property tax owed. Your property’s effective tax rate is available by reviewing the tax bill provided by the Franklin County Treasurer.
ANNUAL REVIEW: Each year, the appraisal division reviews any property which has changed since the previous year. Most often the change is due to a sale/transfer, new construction, a change in the physical size or shape of the land, a demolition, or damage to the property. Final values are determined by the Ohio Department of Taxation and per Ohio Revised Code.
2026 TRIENNIAL UPDATE: Ohio law requires county auditors to update all property values every three years to reflect recent changes in the real estate marketplace. In 2026, Franklin County’s Triennial Update involves a data review of ‘arm’s length’ property sales prices over the preceding three years (2023, 2024, and 2025) to determine the current market values in our area. Although the 2026 Triennial Update does not involve a complete exterior inspection of each parcel like the 2023 reappraisal, it will result in an updated property value for each parcel that reflects the current real estate market within Franklin County.
2023 REAPPRAISAL: The 2023 reappraisal saw a median value increase of 41 percent for residential properties and 16 percent for commercial and industrial properties. For tax year 2024, Franklin County reached $196.6 billion in total real estate value, which is an increase of 2.24 percent from the previous high of $192.3 billion in 2023. The next reappraisal will take place in 2029. Learn more about the 2023 reappraisal by reading the Franklin County 2024 Statistical Study.
2020 TRIENNIAL UPDATE: The 2020 triennial update saw a median value increase of 20 percent for residential properties and 15 percent for commercial and industrial properties. For tax year 2021, Franklin County reached 144.7 billion in total real estate value, which is an increase of 1.61 percent from the previous high of 142.4 billion in 2020. The next Triennial Update will take place in 2026. Learn more by reading the 2020 Triennial Update Independent Audit.