What Is Appraised Value in Franklin County And Why It Determines Every Dollar You Pay in Property Taxes
Your property tax bill in Franklin County does not come out of thin air. It starts with one number: your appraised value. Get that number wrong or let the county get it wrong and you are either overpaying every year or leaving money on the table.
Here is exactly how it works, what is changing in 2026, and what you need to do right now.
What Is Appraised Value in Franklin County?
Appraised value also called market value is the Franklin County Auditor’s official estimate of what your property would sell for on the open market on a given date.
This is the starting point for everything. Your tax bill, your assessment appeal, your exemptions all of it flows from this single number.
The Franklin County Auditor’s Office determines appraised value by analyzing recent sales of comparable properties in your neighborhood, reviewing your property’s physical characteristics, and applying a computer-based valuation model. Every parcel in the county goes through this process.
Appraised Value vs. Assessed Value They Are Not the Same Thing
This is where most Franklin County homeowners get confused. These two numbers are different, and mixing them up costs people money.
Appraised Value is the full estimated market value of your home what the county thinks it is worth.
Assessed Value is exactly 35 percent of that appraised value. This is the number Ohio actually taxes. Nothing more.
In Ohio, property taxes are assessed on 35% of the appraised market value. The value on which taxes are assessed is known as the taxable or assessed value.
Here is a real example using the Franklin County median:
If your home’s market value is $155,300 the county median at Ohio’s 35% assessment ratio your assessed value would be $54,355, resulting in approximately $2,592 in annual taxes at the county’s effective rate.
So when you see your tax bill, you are not paying taxes on the full value of your home. You are paying on 35 percent of it. That is the law across all of Ohio.
How Your Annual Tax Bill Is Actually Calculated
Once you have your assessed value, the formula is straightforward:
Assessed Value × Millage Rate ÷ 1,000 = Annual Tax Bill
Millage is equal to one dollar for each $1,000 of taxable valuation. Franklincountyohio
Franklin County property taxes average around 1.64% of your home’s value, calculated on just 35% of the appraised amount.
Practical example a $300,000 home in Franklin County:
- Appraised value: $300,000
- Assessed value (35%): $105,000
- At 60 mills effective rate: $105,000 × 60 ÷ 1,000 = $6,300 annual tax bill
Your actual millage rate depends on exactly where in Franklin County you live your school district, township, and municipality all add their own levies on top.
How Franklin County Determines Your Appraised Value
The reappraisal process includes individual exterior review of every property in addition to sales and general market conditions, and is designed to ensure updated, fair, and equitable values. By reviewing individual property characteristics and basing values on appropriate sales that have occurred for similar properties in the same neighborhood, the Auditor can ensure property valuations reflect the current market.
The key factors the Auditor’s Office uses:
Recent comparable sales
The most important factor. Even if your home has never been listed, its value reflects what similar homes in your neighborhood recently sold for.
Property characteristics
Square footage, lot size, age, condition, number of bedrooms and bathrooms, garage, basement finish.
Location
School district, proximity to amenities, neighborhood trends.
Improvements
Any additions, renovations, or new construction since the last update.
Franklin County helps homeowners stay informed by sending pre-notices of value changes before they take effect. This transparency allows property owners to understand and question the change before it’s finalized.
The 2026 Triennial Update What Is Happening Right Now
This is the most important update for Franklin County homeowners in 2026.
County auditors adjust property values in Ohio every three years, based on market conditions. The process cycles between triennial updates, based on neighborhood sales data, and more thorough reappraisals that also include exterior home inspections. The latter happened in 2023 in Franklin County. Values rose to historic levels that year due to a pandemic-fueled housing boom, with residential properties averaging a 43% jump.
This year’s update is more modest, with a tentative average increase of 9% for residential properties, per the Franklin County Auditor’s Office.
Unlike with reappraisals, during the triennial property value update, each property is not visually inspected. Values are updated based entirely on neighborhood sales data from the past three years.
Updated valuations are expected on June 9. They will arrive by mail and will be available on the auditor’s website. If homeowners agree with the new value, they do not need to take any action, and it will affect tax calculations beginning in 2027. But if they think it is too low or too high, they can initiate a review starting in July.
Franklin County’s next full reappraisal has been delayed a year to 2030 as part of recent statewide tax changes.
Will a Higher Appraised Value Mean a Higher Tax Bill?
Not necessarily and this is critical to understand.
Because Ohio law limits how much levies can collect, tax rates are sometimes reduced even when property values rise.
After the 2020 Triennial Update, residential property values countywide increased by 20%, but taxes collected by the county on residential property only increased 2.57%.
This is Ohio’s House Bill 920 rollback protection at work. When appraised values rise, the millage rates on most voted levies are rolled back automatically so that local governments collect roughly the same total revenue not dramatically more. Your tax bill may go up, but not at the same rate as your appraised value.
What To Do When You Receive Your New Value in June 2026
Step 1 — Check your mail on June 9.
Your updated appraised value notice will arrive by mail. It will also be available at auditor.franklincountyohio.gov.
Step 2 — Compare it against recent sales in your neighborhood.
Search for homes similar to yours same size, same age, same area that sold in the last 12 to 24 months. If your new appraised value is significantly higher than what those homes actually sold for, you have grounds to challenge it.
Step 3 — Request an informal review if you disagree.
Owners who disagree can meet with the auditor’s office from July through September before the values are set in December. This informal review costs nothing and does not require a lawyer.
Step 4 — File a formal Board of Revision appeal if needed.
The 2025 BOR filing season opened on October 30, 2025 and closed on March 31, 2026. For 2026 values, the next formal appeal window will open January 1, 2027.
Appeals for 2025 values must be filed between January 1 and March 31, 2026, using DTE Form 1. Evidence matters appraisals or closing statements, not subjective complaints.
How a Higher Appraised Value Affects Your Tax Bill Step by Step
If your appraised value goes from $280,000 to $305,000 after the 2026 triennial update:
- Old assessed value: $280,000 × 35% = $98,000
- New assessed value: $305,000 × 35% = $106,750
- Difference in taxable value: $8,750
- At 60 mills: $8,750 × 60 ÷ 1,000 = $525 more per year before any rollback adjustments
After Ohio’s rollback protections apply, the actual increase will typically be lower than this raw calculation but the direction is upward.
Key Dates for Franklin County Homeowners in 2026
June 9, 2026
Updated 2026 triennial appraised values mailed to all Franklin County property owners and posted online.
July through September 2026
Informal review period. Meet with the Auditor’s Office to discuss your value before it is finalized.
October/November 2026
Formal triennial update informal reviews conclude.
December 2026
Values finalized and forwarded to the Ohio Department of Taxation.
2027
New appraised values begin affecting tax bills.
January 1, 2027 through March 31, 2027
Formal Board of Revision appeal window for 2026 values.
Frequently Asked Questions
Is appraised value the same as assessed value in Franklin County?
No. Appraised value is your home’s full estimated market value. Assessed value is 35 percent of that number and assessed value is what your taxes are actually calculated on.
Does a higher appraised value automatically mean higher taxes?
Not always. Ohio law rolls back millage rates on most voted levies when values rise, which limits how much total tax revenue increases. Your bill may go up, but usually not at the same rate as your appraised value.
How often does Franklin County update appraised values?
Every three years. A full reappraisal with physical inspections happens every six years the last one was 2023. A triennial update based on sales data only happens at the midpoint that is what is occurring in 2026. The next full reappraisal is now scheduled for 2030.
What if I think my new 2026 appraised value is wrong?
Request an informal review with the Auditor’s Office between July and September 2026 it is free and requires no attorney. If you still disagree after that, file a formal Board of Revision appeal between January 1 and March 31, 2027.
Where do I find my current appraised value?
Visit auditor.franklincountyohio.gov and search by your property address or parcel number. Your full property record, including appraised value, assessed value, and tax history, is publicly available.