After a round of thunderstorms and a possible tornado, the Franklin County Auditor’s office reminds homeowners that the office can be a resource if their property was damaged by the storms.
State law gives county auditors the authority to reduce real estate values for properties that have been damaged or destroyed by a storm, fire, or other disaster. That temporary reduction in value can result in significantly reduced property taxes paid to the Franklin County Treasurer until the property has been restored to its original condition.
This past year, a change in state law enables the auditor’s office to proactively file for a value reduction on behalf of owners if the office becomes aware of damage to properties. After assessing the damage, the office sends a notification letter to homeowners, and 45 days after the letter files a Property Value Reduction form (DTE 26) unless the homeowner indicates they don’t want to file.
Owners can always file a Property Value Reduction form for damaged or destroyed property at franklincountyauditor.com/real-estate/tax-reduction-programs/damaged-destroyed-form.
More information, including application deadlines and the percentage deduction allowed, can also be found on the auditor’s website – franklincountyauditor.com.