Montgomery County property owners who want to dispute the tax values of their properties have a week left to file an appeal with the Board of Revision.
The last day to file this year is Monday. More than 500 appeals have already been filed with the board this year, according to the county auditor.
“We want to give every property owner the opportunity to weigh in on their property’s value,” said Karl Keith, Montgomery County’s auditor.
The Board of Revision is a quasi-judicial body responsible for conducting hearings to determine the taxable value of property. It allows individuals to present evidence to suggest a need for a change in a property’s value.
The steps a property owner needs to take to file an appeal are located online at the county’s Board of Revision’s page, http://www.mc-bor.org/. Auditor’s office staff are also available at 937-496-6856 to explain the process. Owners can find their property’s value online at www.mcrealestate.org and use the information to determine if they would like to file an appeal.
Montgomery County property values were last updated in 2017 during the office’s last triennial update.
Work is already underway on the 2020 property revaluation project, during which each of the county’s 250,000 real estate parcels is reviewed and the taxable property values updated.
Keith said the 2020 revaluation project will be “the most demanding and the most difficult update in recent history.”
“Most notably in the past 10 years, our county has confronted both record highs in property values as well as historic losses,” Keith said.
In 2009, the county’s total property value peaked at more than $28 billion but declined dramatically in the aftermath of the Great Recession, tumbling 12 percent by 2014 for a loss of about $3.5 billion. But during the valuation update completed last year, the county saw total value rise 4 percent, and residential sales reached their highest level since, according to the auditor’s office.