Ohio Tax Board Reduces Bank Property Valuation

Got story updates? Submit your updates here. ›

The Ohio Board of Tax Appeals has issued a decision reducing the 2024 property valuation for a two-story bank building in Coshocton, Ohio from the original $1,634,570 assessment by the county auditor down to $1,000,000 based on the property owner's appraiser's analysis using the sales comparison and income approaches.

Why it matters

This ruling highlights the ability of property owners to successfully appeal government property valuations through the tax appeals process, which can have significant financial implications for both the property owner and local tax authorities. The decision also demonstrates the importance of professional appraisals in providing reliable evidence to support a lower valuation.

The details

The property in question is a two-story building constructed in 1969 that is used as a bank with second-story office space. Coshocton National Bank, now JPMorgan Chase Bank, appealed the original $1,634,570 valuation set by the Coshocton County Auditor. The Board of Tax Appeals found the property owner's appraiser's methodology and analysis, which utilized the sales comparison and income approaches and reconciled to a value of $1,000,000, to be the most reliable evidence of the property's true value.

• The Ohio Board of Tax Appeals issued its decision on March 12, 2026.
• The original $1,634,570 property valuation was set by the Coshocton County Auditor for the 2024 tax year.

What’s next

The decision by the Ohio Board of Tax Appeals is final, and the new $1,000,000 valuation for the 2024 tax year will stand.