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November 4, 2022
FOR IMMEDIATE RELEASE
Contact: Monica Moran 614.378.2879
Monica.moran@franklincountyohio.gov
COLUMBUS, Ohio – An independent audit examining the 2020 Triennial Update of properties by Franklin County Auditor Michael Stinziano’s office concluded that there were significant improvements in the appraisal process’ accuracy and equity.
The audit, released Monday, was commissioned by Stinziano as part of a commitment to examine the performance of appraisal projects to ensure their quality, accuracy and equity for the residents and businesses of the county.
Entitled “Performance Audit of the 2020 Triennial Update of Franklin County,” it was conducted by noted appraisal company John G. Cleminshaw Inc.
“I welcome this independent examination of our appraisal processes and look forward to continuing to find ways to make our Triennial Updates and Sexennial Reappraisals the most accurate and most equitable possible,” Auditor Stinziano said.
In the audit report, Cleminshaw Inc. concludes that breaking neighborhoods into smaller geographical subsets improved value accuracy and consistency. It also said that a price-related bias analysis showed equity in the appraisal process.
“We deem the results of the Triennial Update to be impressive and indicative of a concerted and dedicated effort by the County Auditor to improve the quality of the assessment product,” the report states. “The Project can be considered a success as defined by the fact that it can be tangibly demonstrated that accuracy of property valuation as well as overall equity among properties was improved as a result of the Project.”
The Triennial Update is conducted by the Auditor’s office between reappraisals to update property values to reflect the current real estate market.
For more information on the 2020 Triennial Update, the 2023 Sexennial Reappraisal, and the appraisal process, visit the Auditor’s office website.
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