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Solon board approves filing of four property valuation complaints, says potential revenue could top six figures
Summary
The Solon Board of Education voted to file four commercial property valuation complaint resolutions after staff cited large disparities between sale prices and auditor valuations; staff estimated roughly $94,500 in annual revenue if successful.
The Solon Board of Education voted Feb. 10 to file four property valuation complaint resolutions after district staff said recent commercial sales exceeded auditor valuations by the statutory threshold.
Board members approved the filings unanimously, following a presentation that identified large discrepancies between sale prices and assessed market values and estimated an annual revenue impact of approximately $94,500 if the district’s appeals succeed.
District staff described the process required by last year’s change in state law and said the filings are intended to ensure “a level playing field.” The staff member leading the item noted the statutory threshold applies when a sales price exceeds the auditor’s valuation by the law’s required percentage and gave examples of the four properties under review. Those examples included a property with an assessed market value of about $8.1 million that sold for $10 million, a property assessed at $6.5 million that sold for $7.5 million, a property with an assessed value near $340,000 that sold for close to $1.3 million, and one assessed at $1.2 million that sold for about $1.9 million.
The presenting staff member said the district’s goal is to base valuation on sales price where the law requires it, and that doing so would not materially change the district’s revenue outside of the inside millage but could yield roughly six figures annually if the board’s filings are sustained. Board members asked clarifying procedural questions and then approved the recommended action to file the four complaint resolutions.
The filings formalize the district’s right to contest auditor valuations under the state statute staff referenced; the board did not vote on any change to tax rates or millage during the discussion.
Board members who voted in favor included Mrs. Abramowitz, Mrs. Barksdale, Mr. Heckman, Mr. Patton and Mrs. Glavin. The board’s action directs staff to proceed with the complaint resolutions as presented and does not itself change assessed values until the appeals process is completed.
