Franklin County Property Values
(Assessments & Valuation)
A Franklin County property’s value isn’t one single number — it’s usually several related figures that each serve a different purpose, from estimating what the property could sell for to calculating what its owner owes in tax. Understanding the difference matters whether you’re budgeting for a home purchase, trying to make sense of a valuation notice, or just curious why your neighbor’s tax bill looks different from yours.
This page walks through what those different value figures mean, how they’re generally determined, why they change, and what to do if you think one is wrong.
What Are Franklin County Property Values?
In the context of county property assessment, “value” refers to the Auditor’s official estimate of what a piece of real estate is worth, used as the foundation for calculating property taxes and for keeping public records accurate and consistent across the county.
Every parcel gets a value assigned to it, whether or not it ever changes hands, because Ohio’s property tax system is funded based on value rather than a flat per-property fee. That value matters to an owner directly — it drives their tax bill — and indirectly, since it can be a useful (though not perfect) reference point when thinking about a property’s worth.
It’s common to see more than one number attached to a single property. That’s not an error — different valuation concepts exist because they answer different questions, covered in detail below.
What Is the Value of My Property?
If you want to check the value on file for a specific property, the general process looks like this:
- Identify the property you’re researching.
- Use the Franklin County property search to locate its record.
- Review the value information shown on that record.
- Note which specific value figure you’re looking at — market, appraised, assessed, or taxable aren’t interchangeable, and it matters which one you’re reading.
- If the number matters for a financial, legal, or tax decision, verify it through the official Auditor system rather than relying on a secondhand or cached figure.
Types of Property Value
Market Value
Market value is the estimated price a property would likely sell for in a reasonably competitive, open-market sale. It’s the concept most people mean colloquially when they ask “what’s my house worth,” and it’s shaped by everything a buyer would actually weigh: location, condition, comparable recent sales, and current market demand.
Appraised Value
Appraised value is the county’s official estimate of a property’s market value, arrived at through the Auditor’s assessment process rather than an individual, one-off appraisal like the kind a lender might order for a mortgage. It’s meant to approximate market value across an entire county’s worth of properties in a consistent, comparable way, which means it can sometimes lag behind or diverge from what a specific property would actually fetch on the open market at a given moment.
Assessed Value
Assessed value is a defined fraction of appraised value that Ohio law actually uses to calculate property taxes — set at 35% of appraised value. This is the number that tax rates get applied to, which is why assessed value is typically much lower than either appraised or market value.
Taxable Value
In most everyday contexts, “taxable value” and “assessed value” refer to the same figure — the 35%-of-appraised amount taxes are calculated from. Where the two can diverge is after exemptions or credits, like the Homestead Exemption, are applied — those reduce the amount actually taxed below the raw assessed value. If a specific document or bill uses “taxable value” to mean something more precise, that’s worth confirming with the official source rather than assuming it always matches assessed value exactly.
How Are Property Values Determined?
Valuation generally draws on a combination of property characteristics and market evidence: the land itself, the buildings and other improvements on it, comparable sales of similar properties nearby, and broader market conditions in that area. Depending on the property and the specific assessment cycle, the process may weigh these factors differently.
Ohio law requires counties to fully reappraise every property once every six years, with a lighter, sales-data-driven update at the three-year midpoint between reappraisals. Because official valuation procedures and methodologies can be refined over time, it’s worth verifying current specifics with the Auditor’s Office or the Ohio Department of Taxation rather than assuming last cycle’s process applies exactly the same way going forward.
Why Did My Property Value Change?
A number of things can move a property’s assessed value, including:
- Shifts in local market conditions and comparable sale prices
- A scheduled reassessment or triennial update
- New construction or a completed addition
- Renovations or other improvements to the property
- Corrections to previously inaccurate property information
- Refinements to valuation methodology between cycles
- Recent sales or market evidence specific to that property or neighborhood
It’s worth keeping in mind that a change in assessed value doesn’t necessarily move in lockstep with a property’s actual market price — the two are related but calculated differently, and one can shift more or less than the other in a given cycle.
Property Value vs. Property Tax
These two get conflated constantly, but they’re distinct steps in the same process. Property value — market, appraised, assessed, or taxable — describes what a property is worth or how much of that worth is subject to tax. Property tax is the actual dollar amount owed, calculated by applying tax rates, levies, exemptions, and credits to that value.
In short: value is an input, tax is the output. For how that calculation actually works — tax districts, levies, and what drives one property’s bill higher than another’s — see Franklin County property taxes.
How to Find Franklin County Property Values Online
To check a specific property’s current value information:
- Start by identifying the property you’re interested in.
- Run a property search using its address, owner name, or parcel number.
- Open the matching record and locate its value section.
- Compare the different value fields shown rather than reading just one number in isolation.
- Verify anything you plan to rely on through the official source, since online records can occasionally lag behind the county’s most current data.
How Often Do Property Values Change?
Ohio law puts every county on a six-year full reappraisal cycle, with a triennial update at the midpoint based on recent sales data rather than individual property inspections. Franklin County’s last full reappraisal took place in 2023, making 2026 this cycle’s triennial update year, with the next full reappraisal expected around 2030.
Exact schedules and procedures can shift — this county’s own cycle has already been adjusted once due to a state-level procedural change — so if you’re planning around a specific date, confirm the current schedule with the Auditor’s Office or the Ohio Department of Taxation rather than assuming the pattern above will repeat exactly.
What If I Disagree With My Property Value?
If you believe a property’s assessed value doesn’t reflect its actual condition or worth, Ohio provides a formal review process through the county’s Board of Revision, where property owners can file a valuation complaint and present supporting evidence.
Not every disagreement will qualify for the same process or outcome, and filing windows, required documentation, and procedures are set by the county and can change from year to year. Rather than guess at deadlines or forms here, check the Board of Revision’s current requirements directly before you plan around them.
What Can Affect a Property’s Value?
A number of factors can influence what a property is worth, though not all of them feed into official assessment in exactly the same way:
- Location and neighborhood
- Land size and characteristics
- Building size and layout
- Overall condition
- Improvements and renovations
- Age and construction type
- Comparable sales nearby
- Broader neighborhood and market conditions
- Permitted or recorded work on the property
Some of these — like condition, staging, or curb appeal — matter enormously to a buyer’s sense of market value but aren’t captured the same way in a standardized mass-appraisal process, which is one reason appraised value and true market value don’t always match perfectly.
Property Value and Property Records
Value information doesn’t exist in isolation — it’s one part of a property’s broader record. Franklin County property records cover the fuller picture: ownership, characteristics, sales and transfer history, and the valuation figures discussed on this page all live together within the same parcel record. If you’re trying to understand a property more completely rather than just its value, that’s the better starting point.
Frequently Asked Questions
How do I find my Franklin County property value?
Search for the property by address, owner name, or parcel number, then open its record and review the value section. Note which specific value figure — appraised, assessed, or taxable — you’re looking at.
What is the difference between market value and assessed value?
Market value estimates what a property would sell for. Assessed value is a defined 35% fraction of the Auditor’s appraised value, and it’s the figure tax rates are actually applied to.
What is assessed value in Ohio?
It’s the portion of a property’s appraised value — set by state law at 35% — that’s used as the base for calculating property tax.
Is taxable value the same as market value?
No. Taxable value (generally the same as assessed value) is a fraction of appraised value used for tax purposes, and it’s typically much lower than what the property would actually sell for.
Why did my Franklin County property value increase?
Common reasons include a scheduled reassessment or update, rising comparable sale prices nearby, new construction, or completed improvements. Individual reasons vary by property and cycle.
How can I check the value assigned to my property?
Look it up through the property search, then review its record’s value section. For anything time-sensitive, verify the figure through the official Auditor system.
How does property value affect property taxes?
Assessed value is multiplied by your tax district’s combined rate to help determine your bill, alongside any applicable exemptions or credits. Higher assessed value generally means a higher starting point for tax, though rates and reductions also factor in.
Can I challenge my property’s assessed value?
Yes, generally through the Board of Revision’s formal valuation complaint process. Requirements and deadlines are set by the county, so confirm current details before filing.
Where can I verify the current value of a Franklin County property?
Through the official Franklin County Auditor property system, which is the authoritative source for current, official valuation data.
How often are property values updated?
Ohio requires a full reappraisal every six years with a triennial update at the midpoint. Exact schedules can shift, so check the current cycle status with the official source.
Verifying Official Value Information
Franklin County Property Guide explains how property valuation works, but it isn’t the Franklin County Auditor’s Office and doesn’t set or host official values.
For current, official property value information, visit property.franklincountyauditor.com, maintained by the Franklin County Auditor’s Office.