Just had the pleasure of listening to a presentation by the Summit County Assessor’s office regarding the recent 2021/2022 reappraisal and results. OK, I get it. Not always the most exciting information if you’re not an assessor, but they always have some good information. If you want more information check out www.SummitCountyCo.gov and scroll down to the bottom for property valuation links.
Here are a few quick tidbits:
34,971 Notices of Valuation were sent out. This includes all residential, commercial and land. Take away: there are less than 35,000 “residences” in Summit County.
They used a new method to evaluate properties called the Multiple Regression Analysis (MRA) This year, they had only 1,477 appeals (normally they have around 3,300 appeals). So it appears that the public also thinks this method is working.
Of the 1,477 appeals, 555 were adjusted. The average adjustment was 13.55%
917 of the appeals were denied. This is roughly 2x higher than usual due to the confidence they have in the MRA.
The bad news? It’s taxes. Yuck.
The good news? All property tax money stays local in Summit County. It goes to schools, government, municipalities that keep our county working!
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