A company out of Dayton will soon begin performing a mandatory real estate assessment.
It is required by law that a county reassess its real estate every six years. The Muskingum County Commissioners heard bids from three companies and Thursday the Muskingum County Auditor, Anita Adams, selected Tyler/CLT.
"They are a real reputable company, they have been around a long time and we were real impressed with their proposal, the project manager is a local person who lives in Muskingum County, so that was a big plus and they actually came in as the lowest proposal," says Adams.
The assessment will take 18 months and cost $714,000. It is being paid for by the Real Estate Assessment Fund. That money comes from fees from tax collection. Nationally, property value is on the decline, but in Muskingum County it has flat lined.
"We know the market is fairly stagnant at this point and when we do a reappraisal under the rules of the Tax Commissioner of Ohio, when we are looking at sales they will not look at bankruptcy sales, they will not look at foreclosure sales, though they will eventually have a bearing on the market," says Adams.
Re-appraisers will also be taking a look at homeowners physical property. To make sure your information is up-to-date, go to the Muskingum County Auditor's Website. It will be 2013 before homeowners see any change in their taxes.