The assessor will send you a notice when the assessed value of your property changes. You may also receive a notice showing "No Change" in value. The County Assessor is required to physically inspect and value real property at least every six years. Please note: Franklin County is on an annual revaluation cycle. After determining the value, the assessor mails the taxpayer a "Change of Value Notice" or "Value Notice". The notice will show the assessed value of land and improvements separately. The total assessed value should not exceed the market value of your property. The total assessed value is the only value you can appeal. The 'allocation' of value between land and improvements cannot be considered.
Also, keep in mind that the Assessor is obligated to send the notice to the 'owner' whose name and address appears on the assessment rolls. Often, the 'owner' and 'taxpayer' can also be two different parties. It is therefore your responsibility to notify the assessor of any incorrect information or address changes. It is additionally your responsibility to request that the Assessor or the mortgage or the lending company send copies of the notices to you.