Ohio Property Tax Revaluation - Appraisal Research Corporation

A
abatement	The forgiveness of taxes, or a portion of taxes due, on a building, or portion of a building, for a specified period of time. The reduction of real estate taxes on a property. An official reduction or invalidation of an assessed valuation after the initial assessment for ad valorem taxation has been completed.
abstract	An annual report compiled by the County Auditor of appraised and/or assessed values for each parcel of real property within a taxing district. Also see "tentative abstract" (of values) and "final abstract" (of values).
acquired situs	With respect to a manufactured home or a mobile home, means to become located in Ohio pursuant to the issuance of a certificate of title to the home and the placement of the home on real property. This does not include the placement of a manufactured home or a mobile home in the inventory of a new motor vehicle dealer or the inventory of a manufacturer, re-manufacturer, or distributor of manufactured or mobile homes.
acre	A measure of land, 43,560 square feet.
actual age	The number of years that have elapsed since the original date of construction.
ad valorem	According to value (Latin); generally used to refer to real estate taxes that are based on assessed property values.
ad valorem tax	A tax levied in proportion to the value of the thing(s) being taxed. Exclusive of exemptions, use-value assessment laws, and the like, property tax is an ad valorem tax.
addition	Any new construction that increases a building's size or adds to it; example: a second floor added on top of a one-level structure.
age	The year a structure was built, or an estimate (if unknown) of the year built.
agricultural property	Land and improvements devoted to the production of crops, and/or the raising of livestock.
amenities	Tangible and intangible features that enhance or add to a property’s desirability and perceived value.
apartment, studio	see "studio apartment"
appraisal	An opinion, or estimate, of value. In Ohio appraisals are made every six years for determining the estimated true values of real estate. The appraisals are often referred to as reappraisals.
appraisal date	The date as of which the assessments for a tax year are made. For example, if January 1 is the assessment date and a lot is vacant on that date, the property is appraised and assessed as vacant land even though a building is completed on it in April and the assessment roll may not be final and made public until May 15.
appraisal principles	The economic concepts underlying appraisal: supply, demand, change, balance, conformity, competition, contribution, anticipation, substitution, highest and best use, surplus productivity, and variable proportions.
appraisal ratio	The ratio of the appraised value to an indicator of market value. By extension, an estimated fractional relationship between the appraisal and market values of a group of properties.
appraisal-sale price ratio	The ratio of the appraised value to the sale price (or adjusted sale price) of a property.
appraised value	An estimate of the value of a property before applying any fractional assessment ratio, partial exemption, or other such adjustment.
appraised, market, or true, value (of real estate)	The selling price negotiated between a willing buyer and a willing seller, both with equal knowledge of the property, and neither being under compulsion to buy or sell. In Ohio the courts have held that true value is a property’s market value.
appreciation	Increase in value of a property, in terms of money, from all causes. For example, a farm may appreciate if a shopping center is built nearby, and property of any sort may appreciate as a result of inflation.
arms length sale	The exchange of money for real estate between a willing buyer and a willing seller, neither of which is under duress to buy or sell, both of whom have full knowledge of the property and the uses to which it may be put. For reappraisal/revaluation purposes these sales are also termed "fair market transactions."
assessed value	The value placed on land and buildings by a government unit for use in levying real property tax. In Ohio the assessed (taxable) rate is set at 35% of the market value and is set by the Tax Commissioner of the State of Ohio. This is the dollar figure on which property taxes are calculated.
assessment	The valuation of property for taxation; also the value so assigned.
assessment equity	The degree to which assessments bear a consistent relationship to market value.
assessment ratio	The fractional relationship an assessed value bears to the market value of the property in question. (International Association of Assessing Officers) By extension, the fractional relationship the total of the assessment roll bears to the total market value of all taxable property in a jurisdiction. The number derived by dividing the assessed value by the selling price; used as a measure of the relationship between a property assessment and market value.
atrium	An interior courtyard usually with a glass roof to provide a greenhouse-like effect inside.
B
balancing	Ensuring that the measurements across the top of the building sketch equal the measurements across the sketch bottom when added together; and that the sides of the sketch also equal each other.
bar/restaurant	A general term for commercial establishments (taverns, nightclubs, microbreweries, etc.) oriented around the sale and on-site consumption of alcoholic beverages.
basement	Usually the lowest story of a building, it is usually either partly or entirely below grade.
bay window	A window that projects outward from the wall and is supported by its own foundation.
bi-level	A dwelling whose lower floor is partly below ground level.
Board of Revision (BOR), Ohio	A non-jurisdictional board charged with the responsibility of assuring that properties and taxing districts in Ohio are assessed in a uniform manner. The County BOR consists of the Auditor, Treasurer, and Chairman of the County Commissioners. Property value appeals are formally filed with this Board between January 1 and March 31.
bond	Raises funds for permanent improvements (structures) to a taxing district’s buildings and grounds, or for immediate construction of a new building(s). The money can not be used to pay off debts. It can only be used for the purpose stated on the election ballot. It may not be used for operating expenses. Bonds are sold in the amount approved through the election, then the money is used to pay for improving public buildings. The money is paid back with interest, usually over 20 or more years (similar to the way a person’s mortgage loan is paid). A bond is typically used to pay off debts within a county. It is exempt from the 20 mill floor limit.
bond levy	A levy made to retire the principle and pay the interest on notes and certificates of indebtedness secured by the issuance of bonds.
breezeway	A covered passageway, open to the outdoors, connecting either two parts of a building or two buildings.
brick construction	A type of construction in which the exterior walls are baring walls of solid brick or brick and tile masonry.
brick veneer	A non-loadbearing single tier of brick applied to a wall of other materials.
brick veneer wall	Usually used to describe a wall made up of brick veneer applied over wood framing.
brickcrete	A type of artificial brick.
building	". . . a permanent fabrication or construction, attached or affixed to land, consisting of foundations, walls, columns, girders, beams, floors, and a roof, or some combination of these elemental parts, that is intended as a habitation or shelter for people or animals or a shelter for tangible personal property, and that has structural integrity independent of the tangible personal property, if any, it is designed to shelter." (Source: Ohio Revised Code 5701.2)
built-up roofing	A continuous roof covering made up of laminations or plies of saturated or coated roofing felts, alternated with layers of asphalt or coal-tar pitch and surfaced with a layer of gravel or slag in a heavy coat of asphalt or coal-tar pitch or finished with a cap sheet; generally used on flat or low-pitched roofs
buyer	see "grantor."
C
callback card (Ohio)	A letter or 5" x 8" card asking the taxpayer to describe the inside of a structure (heat, plumbing, etc.). It is left on the taxpayer’s door when either the field listing technician finds no one at home, or someone who is either under 18 years of age or other than the owner answers the door.
carport	a roofed space having at least one side open to the weather; often made by extending the dwelling roof to one side; primarily designed to store motor vehicles.
CAUV	see "Current Agricultural Use Value"
CAUV exemption	see "Current Agricultural Use Value"
CDU	The combined condition, desirability, utility of a property.
charter levy	The voters of a municipal corporation may adopt a charter that provides for a rate limitation which will prevail over the 10 mill limitation.
clerical error (Ohio)	An error of fact. (For example, the measurement of a building is incorrect; the number of plumbing fixtures is wrong; the land was valued using the wrong land schedule.) Prior to the approval of the final abstract, clerical errors may be corrected with the Auditor’s approval. After the final abstract has been approved, clerical errors may only be changed by the Board of Revision after the owner has filed a DTE Form 1 (Complaint as to the Assessment of Real Property). (Note: Grade and depreciation, which are judgement calls, may only be changed by the Board of Revision.)
clockwise	To move in the direction that the hands of a clock rotate; moving right in a circle pattern.
coefficient of dispersion (COD)	This measures the average percent of deviation of the ratios from the Median Ratio. This is calculated by: Subtracting the Median Ratio from each ratio; Take the absolute value of the calculated differences, add them together; Divide this number by the total number of ratios to obtain the Average Absolute Deviation; Divide this number by the Median ratio; Multiply this number by 100. The COD for single family residences and/or condominiums should be around 15.00 or less. In newer areas it should be 10.00 or less. For heterogeneous rural residential and seasonal homes it should be 20.00 or less.
coefficient of variation (COV)	This is a standard statistical measure of the relative dispersion of the sample data about the mean of the data; it is the standard deviation expressed as a percentage of the Mean. This is calculated by: Subtracting the Mean Ratio from each ratio; Square the calculated differences; Sum all of the squared differences; Divide by the total number of ratios minus 1 to obtain the variance; Calculate the square root to obtain the Standard Deviation; Divide this number by the Mean Ratio; Multiply this number by 100. The COD should be approximately 1.25 times the COV.
combination [of parcels]	Taking two or more parcels and making them one; the land and building from these parcels are combined on to one property record card. Also called "combining" parcels.
commercial card (Ohio)	Also known as "commercial property record card." Identifies the type of property record card used when valuing commercial, industrial, exempt and public utility properties.
commercial condominium	The application of the condominium concept to commercial, industrial, or office space.
commercial property	Income property; its primary purpose is the capacity of producing monetary income; many actual uses of the property are possible.
community reinvestment	see "abatement"
condition	The degree of wear-and-tear displayed by a structure relative to its age.
condominium	A multi-unit building wherein each occupant has 100% ownership of his/her own apartment and partial ownership of common elements such as hallways, elevators, plumbing, etc. A multi-unit structure or property in which persons hold fee simple title to individual units and an undivided interest in common areas.
condominium conversion	Conversion of rental properties, e.g., residential, commercial, office, or industrial buildings, into condominium ownership.
condominium ownership	A form of fee ownership of separate units or portions of multi-unit buildings that provides for formal filing and recording of a divided interest in real property.
conversion	Changing a single-family structure into a multi-family structure or a residential structure into a commercial structure.
conveyance	A deed or lease by which title or an interest in real estate is transferred.
conveyance form (in Ohio, also known as a D.T.E. Form 100)	This form is required to be filed with each sale of real property. In addition to the actual sale price of the property, a correctly completed form gives the buyers' and sellers' names, the property's address, the owner's tax billing address, the kinds of buildings (if any) on the property, the mortgage holder and type of current mortgage. The conditions of the sale (trade, life estate, leasehold, inclusion of personal property in the sale, etc.) are also to be included on this form as are any items of personal property such as vehicles, appliances, etc.
cost approach to value	(also known as replacement cost approach) The steps are: estimating the value of land by comparing the value of sold properties; estimating the current cost of reproducing any structure; estimating the extent to which any structures have depreciated; estimating the loss or gain in value because of functional and/or economic obsolescence.
crawl space	A shallow, unfinished space beneath the first floor of a structure which has no basement.
cropland	Land suitable for growing annual crops.
Current Agricultural Use Value (CAUV) (Ohio)	Also called the CAUV Exemption. A valuation procedure that values farmland on its ability to produce income rather than on its market value. Agribusiness property owners with 10 or more acres and/or having an annual agricultural production-based income of at least $2,500 may apply for this tax reduction. The State of Ohio calculates and sets the CAUV values for the state's various soil types.
current operating levy	A tax levy for the purpose of providing for legally authorized expenditures for current operating expenses of a taxing district.
current use	The present use of a property rather than the possible, or speculative, use, or the property’s highest and best use.
D
deck	An open second story porch, usually on the roof of a ground floor porch or wing; in modern architecture, may be supported by piers or cantilever and may also be at ground or first story level.
depreciation	Loss of value in real property brought about by any or all of the following: age, physical deterioration, functional or external obsolescence; or a loss in value from any cause.
depreciation, economic (also known as economic obsolescence)	A loss in value because of the location of the property and/or neighborhood influences on the property. For example a home that is surrounded by a factory, a railroad, and a polluted waterway.
depreciation, functional (also known as functional obsolescence)	A loss in value found within an improvement (building) because of its poor layout, design, excesses or over improvements, or outmoded (out-of-date) or deficient (lacking in) items, or because preferences in the market have changed since the building’s construction date.
depreciation, physical	A loss in value due to wear and tear and/or the action of the elements.
depth	The distance extending from the front line to the rear line of a lot.
dormer	A relatively small structure projecting from a sloping roof with a window set upright in the face of that structure.
D.T.E. (Ohio)	In Ohio, this term is generally used to refer to the Ohio Division of Tax Equalization, a division of the Ohio Department of Taxation.
duplex	A building designed as, or converted into, a two-family dwelling in which the two dwelling units are separated horizontally or vertically with a private street entrance for each.
dwelling	Any building or portion thereof designed or occupied in whole or in part as a place of residence.
E
easement	A right to use the land of another for a specific purpose, such as for a right-of-way or for utilities.
economic life	The period over which the improvement contributes to the property’s value.
economic life, remaining	The estimated period during which the structure will continue contributing to the value of the real estate.
effective age	The age of the building indicated by the structure’s condition and functional utility as opposed to its actual or chronological age. This is based on a comparison with similar structures in the market.
effective gross income multiplier (EGIM)	The ratio between the sale price (or value) of a property and its effective gross income; a single year’s EGI expectancy or an annual average of several years’ EGI expectancies (EGIM = V/EGI).
effective mill	Best explained/illustrated by this example: If $1,000 assessed value produces $27 in taxes, you have a 27 mill tax rate ($27 ¸ $1,000 = .027). If that $1,000 assessed value increases to $1,100 and still produces $27 in taxes because of the tax reduction factor, you have an effective millage rate (effective mill) of $27 ¸ $1,100 = .0245 or 24.5.
emergency levy (Ohio)	Similar in function to an operating levy. It brings in a fixed (specific) amount of money used for only day-to-day operation of school districts (books, salaries, supplies, equipment, building maintenance, etc.) or similar public entities. It can run no more than five years. An emergency resolution must be approved by voters for this kind of levy to become effective. It neither increases or decreases the county’s tax reduction factor. Revenue from the levy does not increase as property market values in the county increase. The levy is renewed at the same dollar amount as the original levy. The law does not allow a replacement levy. This kind of levy is exempt from the 20 mill floor limit.
emergency school levy	A tax levy approved by the voters of a school district to provide for the emergency requirements of a school district or to prevent temporary or permanent closing of a school or schools in a district. An emergency levy states an exact dollar amount to be generated.
estimated market value	The estimated sale price of a property. In Ohio, this figure is calculated based on sales, of similar properties, within the three years of either a triennial update or a revaluation.
excessive frontage	Frontage which is greater in length along the lot line than the other lots in a given subdivision. Also see "frontage."
exempt property	Either total or partial freedom from tax; total exemption such as that granted to governmental, educational, charitable, religious and similar non-profit organizations or partial exemption in reference to property taxes.
exterior feature	Porches and other unheated (non-living) areas (excluding garages and carports) that are attached to the dwelling.
F
fair market transaction	A real estate sale between a willing buyer and a willing seller, who are unrelated to each other, with neither person being under any compulsion (duress) to either buy or to sell, and with both people having knowledge of all the relevant facts about the property and the uses to which it could be put.
fair market value	The highest price for which a property will sell on the open market.
fast food restaurant	see "restaurant, fast food."
fee appraisal	The valuing of an individual property, usually for the purpose of obtaining a mortgage. Fee appraisers typically use adjusted sales values of similar properties in diverse areas of a jurisdiction to estimate the probable market value of a particular property.
fee ownership	see "fee simple estate."
fee simple estate	Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat.
fee simple title	A title that signifies ownership of all the rights in a parcel of real property, subject only to the limitations of the four powers of government.
field inspection	A physical visit to a property by an appraiser to note the topography, neighborhood characteristics (if applicable) and to inspect all structures on the property. This inspection includes either measuring, or verifying the measurements, of all structures on the property. In addition, during this inspection the buildings are typically depreciated based on their condition relative to their age. A grade factor (for the quality of the construction) is also placed on the property record card.
final abstract (of values)	In revaluation years only, the County Auditor files a final abstract of values with the Department of Taxation. The report is created after the informal hearings close. It lists the 35% value of each parcel of real estate in the county. Also see "tentative abstract" (of values) and "abstract."
finish (Ohio)	When used in reference to a basement or attic, "finished" means of the same quality materials as used in the basic living area of the dwelling (drywall or plaster, sub-floor covered with either carpet or tile/linoleum. etc.). A finished basement is usually, but not always, partitioned. A recreation room is typically not considered a finished basement (see "recreation room" below). When listing a split-level houses the lower level is often priced as a finished basement rather than as above-ground living area.
fire doors and walls	Doors and walls constructed of fire-resistive materials designed to prevent the spread of fires. A true fire wall will extend from the foundation or concrete floor to above the roof, completely separating parts of the building.
fireplace opening	The hole in a fireplace into which wood, or other burnables, is placed for burning.
fireplace stack	A stack is the chimney or ventilation source made of brick or other masonry that extends above the surface of the roof and carries the smoke from either a fireplace or a furnace to the outside of the structure. A stack on a building does not necessarily indicate that the building has a usable fireplace.
fixture	". . . an item of tangible personal property that has become permanently attached or affixed to the land or to a building, structure, or improvement, and that primarily benefits the realty and not the business, if any, conducted by the occupant on the premises." (Source: Ohio Revised Code 5701.2) Also refers to plumbing, such as a sink, a water closet, a tub, a shower, a hot tub/jacuzzi, etc.
floor furnace	A furnace that is suspended below the floor with hot air rising from the furnace through a flush grille in the floor; there are usually no ducts.
foundation	The part of the structure on which the superstructure rests. It includes all construction which transmits the loads of the superstructure to the earth.
fractional acreage	A chart of land values for specific acreages; these acreages are usually not large enough to be farmed.
frame construction	A type of construction in which there is a framework of wooden structural members for the support of all loads and the resistance of all stresses.
front foot	A standard of measurement, being a strip of land one foot wide fronting (facing) on the street, waterfront, or golf course, and extending the width of the lot; the land’s value may be quoted per front foot price.
frontage	The length of a lot line along the street or other public way.
functional obsolescence	An element of depreciation resulting from super-adequacies in the structure. Also see "functional obsolescence, incurable" and "functional obsolescence, curable."
functional obsolescence, curable	An element of depreciation; a curable (fixable) defect caused by a flaw in the structure, materials, or design.
functional obsolescence, incurable	An element of depreciation; a defect caused by a deficiency or super-adequacy in the structure, materials or design, which cannot be practically or economically corrected.
G
garage	A building which shelters a motor vehicle.
gazebo	A window balcony, summerhouse, etc. for gazing at scenery.
grade	The classification of an improvement based upon certain construction specifications and the quality of materials and workmanship. A building’s grade never changes. Also used to describe the level of the land versus the level of the street.
grade factor	A percentage measurement applied to a base grade (classification) level. Also see "grade."
grantee	A person to whom property is transferred and property rights are given by deed, trust instrument, or other similar documents; compare with "grantor".
grantor	A person who transfers property or gives the property right by deed, trust instrument, or other similar documents.
gravity furnace	A warm air heating system usually located in a basement; warm air rises through ducts to the upper levels.
gross area	The total floor area of a building measured from the exterior of the walls.
ground level	The first floor level of a structure.
H
heat pump	Self-contained, reverse cycle, heating and cooling unit; on the heating cycle, heat is collected on the outside coil and pumped inside; during the cooling cycle, heat is collected from the inside and pumped to an outside coil where it is dissipated.
high-rise building	A building which is generally over five stories, or 75 feet, in height. For differentiation in many pricing systems, high-rise apartments are three stories and above, while low-rise garden apartments of light residential-type construction are referred to as multiple residences up to three stories.
homesite	A specified amount of land for a dwelling, generally one acre or less; this term most commonly applies to agricultural or small acreage property and includes utility improvements, the dwelling, and all other structures.
homestead exemption	A release from assessment or property tax on, or the application of a lower tax rate to, property designated as a family homestead.
hotel	A facility that offers lodging accommodations and a wide range of other services, e.g., restaurants, convention facilities, meeting rooms, recreational facilities, and commercial shops. Also see "motel."
hotel, all-suite	A hotel in which space that could be allotted to meeting, banquet, restaurant, and lounge facilities is instead allocated to guest suites that include separate living and sleeping areas. Most all-suite hotels offer free breakfast and an evening cocktail hour. With only limited food and beverage facilities, all-suite hotels are usually easier to operate and typically have higher profit margins.
hotel, apartment	A furnished apartment building with more or less permanent tenants that offers hotel facilities, e.g., reception desk, telephone switchboard, maid service, utilities, etc.
hotel, convention	Hotels designed to accommodate large groups and functions. They have facilities such as one or more large ballrooms with breakout areas for meetings and conferences, exhibit space for trade shows, sample and display rooms for sales meetings, extensive restaurant and lounge capacity, and the same recreational amenities found in commercial hotels. The key component is meeting space, which should amount to at least 30 square feet per guest room. They are sometimes located next to convention centers.
hotel, extended-stay	A hotel/motel that provides a more complete set of services than extended-stay or limited-service hotels; services include room service, valet, concierge, transportation and tour services, entertainment facilities, barber shop, bellhop service, laundry service, lounge, free continental breakfast, restaurant, turndown service, morning newspapers, fitness centers, and banquet and meeting space.
hotel, full-service	see "hotel, extended stay"
hotel, luxury	A full-service hotel that features physical surroundings and services. Much of the extravagance is considered inessential but conducive to pleasure and comfort. Has the highest average daily rate. Also known as a five-star hotel or five-diamond hotel.
hotel, mixed-use	A lodging/hospitality facility combined with, or immediately adjacent to, other property types.
hotel, office	An office property designed for timesharing. Shared amenities include meeting/board rooms with state-of-the-art teleconferencing; central telephone systems; business support technologies; access to online data services; on-demand temporary offices and personnel; courier services; concierge services to arrange travel, hotel, car, restaurant, and theater reservations; discounts on furniture and office equipment; child care centers; and fitness and catering facilities. The amenities generate income to landlords while supporting the alternative office strategies of tenants. Payment for such services are either incorporated into the lease or charged on a per-use basis.
hotel, resort	A hotel, typically situated in a scenic area, that either provides or is near activities that attract leisure travelers, e.g., swimming, tennis, golf, boating, skiing, ice skating, riding, hiking, sightseeing. Resort hotels generally offer restaurant, lounge, and entertainment outlets; a fitness center; concierge and valet services; transportation and tour services; and a limited amount of meeting and banquet space. Seasonality often affects the level of occupancy. Sometimes called spa hotel.
hotel/motel unit	The smallest accommodation that can be sold to a patron; must contain a full bath, sleeping accommodations, and an entrance door with a key.
HVAC	An abbreviation for heating, ventilating, and air conditioning.
I
improved land	Land which has been provided with a water source, sewers, septic system, sidewalks, and other basic facilities used for property development. Improved land quite often has a structure on it.
improved property or parcel	A parcel of land either having access to, or having on site, any or all of the following utilities: electric power, water or well, sewer or septic system. Often a parcel having a structure(s) on it will be referred to as "improved."
improvement	" . . . with respect to a building or structure, improvement means a permanent addition, enlargement, or alternation to a building that, had it been constructed at the same time as the building or structure, would have been considered a part of the building or structure." (Source: Ohio Revised Code 5701.02) The term improvement can also include a water source, sewers, septic system, sidewalks, and other basic facilities used for property development. Improvement is also an appraiser’s term for structures on a piece of real estate.
income (capitalization) approach to value	A set of procedures through which an appraiser derives a value indication for an income-producing property by converting its anticipated benefits (cash flows and reversion) into property value. This conversion can be accomplished in two ways. One year’s income expectancy can be capitalized at a market-derived capitalization rate or at a capitalization rate that reflects a specified income pattern, return on investment, and change in the value of the investment. Alternatively, the annual cash flows for the holding period and the reversion can be discounted at a specified yield rate.
income approach to value	Uses the net income potential of a property as an indication of the property’s market value.
income stream	A steady flow of payments or benefits from an investment or property.
incomplete	Unfinished; lacking a part or parts; a percentage of a given property/building that is under construction.
industrial property	Land, improvements and/or machinery used, or adaptable for use, in the production of goods either for creating materials or by changing other materials and products; such as assembling, processing and manufacturing, as well as supporting auxiliary facilities thereof.
industrialized unit (Ohio)	Unit means a building unit or assembly of closed construction fabricated in an off-site facility, that is substantially self-sufficient as a unit or as part of a greater structure, and that requires transportation to the site of intended use. "Industrialized unit" includes units installed on the site as independent units, as part of a group of units, or incorporated with standard construction methods to form a completed structural entity. "Industrialized unit" does not include a manufactured home as defined by division (C) (4) of this section or a mobile home as defined by division (O) of section 4501.01 of the Revised Code. (Source: Ohio Revised Code 3781.06 (C) (3))
influence factor	A factor serving to either devalue or enhance the value of a particular parcel of land, or portions thereof, relative to the norm for which the base unit values were established; generally expressed in terms of a percentage adjustment.
informal hearing (Ohio)	An opportunity for the taxpayer to discuss their property’s market value in an informal setting; these hearings are held prior to the governmental unit's formal hearings (Board of Revision).
informal hearing period (Ohio)	An opportunity to discuss new property values on an informal basis. These hearings are usually in the weeks between the County Auditor’s submission of the tentative abstract of values and prior to approval of the final abstract by the Division of Tax Equalization (DTE). During and after this period, only clerical errors on a property record card may be corrected. Any other changes or error corrections must be appealed to the County’s Board of Revision.
inside levy or inside millage	Any tax rate levied inside the 10 mill limitation without a vote of the people.
is/was report	A printout of the previous 100% appraisal value and the current 100% appraisal value of each parcel over or under a given percent.
K
kiosk	A small, free-standing structure used for the purpose of sales and display of merchandise, typically found in malls.
L
land value	A specified amount given to the land either by a schedule of values or a flat rate.
landlocked parcel	A parcel of land without access to any type of road, street or highway.
lean-to	An extension to a building with a roof whose supports lean against the building.
legal description	A description of a parcel of land which serves to identify the parcel by a system prescribed by law; used to locate the parcel on land maps.
levy	Also known as a tax levy. A means of raising money for operating a government unit, such as a county, township or school. Voters in the taxing district(s) where the levy will take effect vote upon whether or not to approve the expenditure. Also see "operating levy," "emergency levy," "replacement levy," "renewal levy," "permanent improvement levy."
lister (Ohio)	A mass appraisal field inspector whose principal duty is to visit each parcel of real estate to collect and record information about the property; sometimes referred to as data collector or field listing technician.
listing a property (for reappraisal purposes)	see "field inspection."
living quarters	A portion of a dwelling, providing complete living facilities, including permanent provisions for living, sleeping, eating, cooking and sanitation.
loft	An attic-like space below the roof mainly used for storage; upper space in a barn or garage.
lot	A parcel of land that is described on a recorded plat or by a survey; usually on residential parcels; frontage and depth.
lot size	The frontage and depth of a specific lot or parcel of property.
M
manufactured home (Ohio)	A factory-built house manufactured under the Federal Manufactured Home Construction and Safety Standards Act of 1976, commonly known as the HUD Code. (Ohio) A building unit or assembly of closed construction fabricated in an off-site facility, that conforms with the federal construction and safety standards established by the Secretary of Housing and Urban Development pursuant to the "Manufactured Housing Construction and Safety Standards Act of 1974", and that has a label or tag permanently affixed to it certifying compliance with all applicable federal construction and safety standards (Source: Ohio Revised Code 3791.06). It includes all skirting, awnings, interior cabinetry, and other accessories and attachments that are permanently attached to and incorporated as part of the home, but does not include any furniture not permanently affixed to the home. (Source: Ohio Revised Code)
manufactured home manufacturer and dealer (Ohio)	Includes all persons, firms, and corporations that are regularly engaged in the business of manufacturing, selling, displaying, offering for sale, or dealing in motor vehicles, at an established place of business that is used exclusively for the purpose of manufacturing, selling, displaying, offering for sale, or dealing in motor vehicles. A place of business that is used for manufacturing, selling, displaying, offering for sale, or dealing in motor vehicles shall be deemed to be used exclusively for those purposes even though snowmobiles or all-purpose vehicles are sold or displayed for sale thereat, even though farm machinery is sold or displayed for sale thereat, or even though repair, accessory, gasoline and oil, storage, parts, service, or paint departments are maintained thereat, or, in any county having a population of less than seventy-five thousand persons at the last federal census, even though a department in a place of business is used to dismantle, salvage, or rebuild motor vehicles by means of used parts, if such departments are operated for the purpose of furthering and assisting in the business of manufacturing, selling, displaying, offering for sale, or dealing in motor vehicles. (Source: Ohio Revised Code) Also, places of business, or departments in a place of business, used to dismantle, salvage, or rebuild motor vehicles by means of using used parts are not considered as being maintained for the purpose of assisting or furthering the manufacturing, selling, displaying, and offering for sale or dealing in motor vehicles. (Source: Ohio Revised Code)
manufactured home park or community (Ohio)	Any tract of land upon which three or more manufactured or mobile homes used for habitation are parked, either free of charge or for revenue purposes, and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as a part of the facilities of the park. A development designed to accommodate multiple manufactured homes, most often land-leased communities where residents own the manufactured homes and rent the site. Formerly called mobile home park; trailer park; trailer camp.
manufactured housing (Ohio)	A dwelling that is built off site and moved to and a fixed site. Typical manufactured homes are factory finished both inside and out. A manufactured home usually has a permanently-affixed wheeled chassises for transporting the home from place-to-place and may, or may not, be attached to a permanent foundation. This term formerly referred to mobile homes or house trailers.
manufactured housing community (Ohio)	Any tract of land upon which three or more manufactured or mobile homes used for habitation are parked, either free of charge or for revenue purposes, and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as a part of the facilities of the park. A development designed to accommodate multiple manufactured homes, most often land-leased communities where residents own the manufactured homes and rent the site. Formerly called mobile home park; trailer park; trailer camp.
manufactured or mobile home (Ohio)	A building unit or assembly of closed construction that is fabricated in an off-site facility and constructed in conformance with the federal construction and safety standards established by the secretary of housing and urban development pursuant to the "Manufactured Housing Construction and Safety Standards Act of 1974," 88 Stat. 700, 42 U.S.C.A. 5401, 5403, and that has a permanent label or tag affixed to it, as specified in 42 U.S.C.A. 5415, certifying compliance with all applicable federal construction and safety standards (Source: Ohio Revised Code 3781.06 (B) (4))
marina	A boat basin that provides dockage and other services to pleasure craft. A structure along which vessels can be held or docked for loading and unloading; usually constructed parallel to the shoreline. If the long side of the dock extends into the water from the shore, it is called a pier.
market analysis	The identification and study of the market for a particular economic good or service. A study of market conditions for a specific type of property.
market area analysis	The objective analysis of observable and/or quantifiable data indicating discernible patterns of urban growth, structure, and change that may detract from or enhance property values; focuses on four sets of considerations that influence value: social, economic, governmental, and environmental factors.
market price	The actual amount of money, or other "consideration," for which a property sold.
market value	The price, in terms of money, which a property will bring in a competitive and open market under all the conditions that are required for a fair market transaction. Also known as fair market value or market price.
masonry	Anything constructed of brick, stone, tile, cement, concrete or similar materials.
mass appraisal	The process of valuing, for taxation purposes, all real property in a county or other jurisdiction following the laws of a particular State. Mass appraisal uses standardized appraisal techniques and procedures to determine uniform valuations, using a minimum of detail, within a limited time period, and at a limited cost per parcel.
median ratio	The middle ratio when the ratios are arrayed in order of magnitude. The median always divides the data into two equal parts when there are an even number of samples. When there is an odd number of samples, take the middle. It is less affected by any extreme ratios. To calculate the Median Ratio, sort the ratios in ascending order; then select the two middle ratios. Add them together, then divide by 2.
mezzanine	A partial floor between two floors, occupying a lesser area than the full floors.
mill	Abbreviation for the term millage.
millage	One tenth (1/10) of a cent, or one thousandth (1,1000^th) of a dollar. In tax language 1 mill = $1 for every $1,000 dollars of assessed value. i.e., 1 mill = .001; 10 mills = .01; 20 mills = .02, 37 mills = .037. One-thousandth (.001) of one dollar, or $1, for every $1,000 of assessed value of real estate (real property). Also see inside millage, outside millage.
mobile home (Ohio)	see "manufactured home."
mobile home, salvage vehicle (Ohio)	Each owner of a motor vehicle and each person mentioned as owner in the last certificate of title, when the motor vehicle is dismantled, destroyed, or changed in such manner that it loses its character as a motor vehicle, or changed in such manner that it is not the motor vehicle described in the certificate of title, shall surrender the certificate of title to that motor vehicle to a clerk of a court of common pleas, and the clerk, with the consent of any holders of any liens noted on the certificate of title, then shall enter a cancellation upon the clerk's records and shall notify the registrar of motor vehicles of the cancellation. (Source: Ohio Revised Code 4505.11 (A))
mobile home park	see "manufactured housing community."
modular house	A dwelling in which two sub-components are built on a steel frame in a factory. The two units are: (1) transported to a permanent location, (2) placed on a permanent foundation, and (3) connected on-location to create a dwelling. A modular home does not have a permanent hitch or a permanent wheel-base.
motel	A building or group of buildings located on or near a highway and designed to serve the needs of travelers by offering lodging and parking; may also provide other services and amenities, e.g., telephones, food and beverages, meeting and banquet rooms, recreational areas, swimming pool, shops. Also see "hotel."
motel, budget	A lodging facility that offers few on-site amenities including, but not limited to, a restaurant and/or swimming pool and that generally has smaller rooms with average-quality furnishings and finishes. The lower initial capital investment generally results in lower room rates.
motor vehicle	Any vehicle, including mobile homes and recreational vehicles, that is propelled or drawn by power other than muscular power or power collected from overhead electric trolley wires. (Source: Ohio Revised Code 4501.01 (B))
multi-family building	A building designed as a place of residence for more than two families or households.
multi-parcel property record card	A property record card created when there is more than one dwelling or more than 11 outbuildings; can be created for additional space; series card; auxiliary card.
N
neighborhood	An area containing structures with similar architectural styles, similar economic and social influences, and consistent resale values. A group of complementary land uses; a congruous grouping of inhabitants, buildings, or business enterprises. A grouping of either like or similar properties or a grouping of properties in an area with similar economic factors (such as properties near a lake or near a particular school).
neighborhooding	Grouping parcels of land together for the purposes of a mass appraisal. Also see "neighborhood."
new construction	Any improvements added to or removed from the property since the last property inspection.
new manufactured home and new mobile home (Ohio)	New manufactured home and new mobile home means a manufactured or mobile home the legal title to which has never been transferred by a manufacturer, remanufacturer, distributor, or new motor vehicle dealer to a purchaser in this state who is not a manufacturer, remanufacturer, distributor, or new motor vehicle dealer. (Source: Ohio Revised Code 5739.0210 (A) (4))
O
obsolescence	A lessening of value because of out-of-date features as a result of current changes in property design, construction or use; an element of depreciation.
obsolescence, economic (or economic depreciation)	A loss in value because of the location of the property and/or neighborhood influences on the property. For example, a home that is surrounded by a factory, a railroad, and a polluted stream.
obsolescence, functional (also known as functional depreciation)	A loss in value found within the improvement because of poor layout, design, excesses or over improvements, or outmoded (out-of-date) or deficient (lacking in) items, or because preferences in the market have changed since the building’s construction date.
occupancy	The use, or intended use of a building.
open book period (Ohio)	see "informal hearing period."
operating levy (Ohio)	Used to raise funds for any legal expenditure. Is most often used for day-to-day operation of school districts (books, salaries, supplies, equipment, building maintenance, etc.). May be either for a limited period (i.e., 3 years) or an indefinite period. Revenue collected by the levy does not increase as real estate market values in the county increase. Personal property and public utility real estate property market value increases and decreases will produce more, or less, income, respectively.
outbuilding	Buildings, other than a dwelling or garage, that are detached from the dwelling. Usually agricultural-type structures. On residential properties these are often called "yard items."
outside levy or outside millage	Any tax levy that exceeds either the 10 mill, or city charter, limitation and must be approved by the voters
overhang	A finished portion of a building having full story height which extends beyond the foundation wall, or beyond the exterior walls of the ground story.
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parcel	A specific portion of land. A parcel can be any size from as small as a subdivision lot, or a portion of same, through a farm or industrial complex. A piece of land held in one ownership. A parcel may be improved or unimproved.
parcel number	A permanent identification number which is assigned to each parcel within a taxing jurisdiction
parcel of real estate	Land, with or without buildings or other improvements. Also see "parcel" above.
park trailer	A vehicle that is commonly known as a park model recreational vehicle, meets the American national standard institute standard A119.5 (1988) for park trailers, is built on a single chassis, has a gross trailer area of four hundred square feet or less when set up, is designed for seasonal or temporary living quarters, and may be connected to utilities necessary for the operation of installed features and appliances. (Source: Ohio Revised Code 4501.01 (Q) (6) (e))
patio	An outdoor area adjoining or enclosed by the walls of a dwelling; often paved and shaded.
permanent foundation (for a manufactured home) (Ohio)	A permanent masonry, concrete, or locally approved footing or foundation, to which a manufactured or mobile home may be affixed.
permanent improvement levy (Ohio)	A special tax levy to raise funds to pay for a specific permanent improvement (i.e., construction & repair of buildings, sidewalks, parking garages, etc.) which has an estimated life of 5 or more years. Usually limited to a period of five years or less. Money is generated as it is collected from taxpayers, therefore, no interest is paid on the money by the taxing entity. (A renewal levy is at the same effective tax rate as the original levy. A replacement levy is collected using the original millage rate.)
permanently sited manufactured home (Ohio)	Permanently sited manufactured home means a manufactured home that meets all of the following criteria: (a) The structure is affixed to a permanent foundation and is connected to appropriate facilities; [see "permanent foundation (for a manufactured home) (Ohio)"] (b) The structure, excluding any addition, has a width of at least twenty-two feet at one point, a length of at least twenty-two feet at one point, and a total living area, excluding garages, porches, or attachments, of at least nine hundred square feet; (c) The structure has a minimum 3:12 residential roof pitch, conventional residential siding, and a six-inch minimum eave overhang, including appropriate guttering; (d) The structure was manufactured after January 1, 1995; (e) The structure is not located in a manufactured home park as defined by section 3733.01 of the Revised Code. (Source: Ohio Revised Code 3781.06)
personal property	Items or structures that are moveable and are not permanently affixed to the real estate, as specified by state statutes. Personal property includes every tangible thing that is the subject of ownership, whether animate or inanimate, including a business fixture, and that does not constitute real property as defined in section 5701.02 of the [Ohio] Revised Code. Source: Ohio Revised Code 5701.03
physical life	The total period a building lasts, or is expected to last, as opposed to the building’s economic life.
pier	A platform structure supported by pilings, extending from land into water. A short column which supports a superstructure. Evenly-spaced columns under a structure to support its weight.
pole building	A building whose principal frame and foundation are treated posts or poles, sunk into the ground, with prefabricated trusses and metal siding.
pond	A body of standing water smaller than a lake.
porch	A structure attached to a building to shelter an entrance or to serve as a semi-enclosed space; usually roofed and generally open-sided; it may be screened or glass-enclosed.
portico	A porch or covered walk consisting of roof supported by columns.
PRC (Ohio)	see "property record card."
price-related differential (PRD)	A measure of uniformity between the high and low value properties. The PRD is calculated by dividing the Mean by the Weighted Mean. This statistic should be close to 1.00. An acceptable range is between .98 and 1.03. When low-value properties are appraised at a greater percentage of market value than are the high-value properties, assessment regressivity is indicated. If the opposite occurs, it indicates assessment progressivity. When property samples are small, or the Weighted Mean is heavily influenced by several extreme sales prices, the PRD is not reliable.
property, real	A parcel of land, with or without buildings or other improvements.
property class (Ohio)	A division of like properties, such as residential, agricultural, commercial, industrial, exempt, public utility; generally based on their present use.
property inspection	see "field inspection"
property location	The address or description where the property is located; street number and name, township, county or state road.
property record card (PRC) (Ohio)	A document specially designed to record and process specific property data; it may serve as a source document, a processing form, and/or a permanent record.
property tax	Taxes paid on real estate, public utility property and tangible personal property used in business. In Ohio, property taxes are based on the budgetary requests of the various taxing jurisdictions, special assessments placed on the tax roll by those jurisdictions, and levies voted in by the people in the County.
property tax rollback (or reduction)	A reduction of property taxes to a certain period of condition, usually used to either give tax relief or prohibit windfalls in tax income due to revaluations of property. In Ohio real property owners receive a 10% tax rollback (reduction) plus an additional 2.5% tax rollback (reduction) on owner-occupied homes.
public utility	Properties devoted to the production of commodities or services for public consumption under the control of governmental agencies (such as the Public Utility Commission).
R
rack rate	The quoted per-night price for a hotel or motel room.
rack storage	Winter storage for boats.
radiant heat	Coils of electricity, hot water or steam pipes embedded in floors, ceilings or walls to heat rooms.
real estate	An identified parcel or tract of land, including improvements, this term is often used synonymously with "real property".
real property, realty and land (Ohio)	". . . includes the land itself, whether laid out in town lots or otherwise, all growing crops, including deciduous and evergreen trees, plants, and shrubs, with all things contained therein, and, unless otherwise specified in section 5701.03 of the Ohio Revised Code, "all buildings, structures, improvements, and fixtures of whatever kind on the land, and all rights and privileges belonging or appertaining thereto; all the interests, benefits, and rights enjoyed by the ownership of the real estate." (Source: Ohio Revised Code 5701.02)
real property (or real estate) tax	Tax levied on land and buildings.
rear land	A property which does not front on a street or other public way; having no access to a road.
reassessment	The process of placing an estimated market value on a property for the purpose of property taxation. Also see "revaluation."
recapture rate	The annual rate at which invested capital is returned to the investor over a specified period; the annual amount, in addition to interest or return on interest (compound interest), which can be recaptured from an investment, divided by the original amount invested. When the term was coined, investors assumed that property was a wasting asset and its value could only decline due to depreciation. Today appraisers use the term when some income provision must be made to compensate for the loss of invested capital.
recreation room (Ohio)	A basement area whose "finish" is only a dropped ceiling and/or indoor-outdoor carpet. A recreation room is not considered a finished basement.
recreation camp (Ohio)	Any tract of land upon which five or more portable camping units are placed and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as a part of the facilities of the camp. A tract of land that is subdivided for lease or other contract of the individual lots is a recreation camp if five or more portable camping units are placed on it for recreation, vacation, or business purposes. (Source: Ohio Revised Code 3733.01 (G))
recreational vehicle park	Means any tract of land used for parking five or more self-contained recreational vehicles and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as part of the park facilities and any tract of land that is subdivided for lease or other contract of the individual lots for the express or implied purpose of placing self-contained recreational vehicles for recreation, vacation, or business purposes. "Recreational vehicle park" does not include any tract of land used solely for the storage or display for sale of self-contained recreational vehicles or solely as a temporary park-camp. Source: Ohio Revised Code 3733.01
refurbishing or maintenance	Basic upkeep such as painting, siding, replacing windows or roofs, and so on.
remodeling	Changing the plan, form, or style of the structure. Altering the amount of living area in a dwelling or adding more square foot area to any other structure; changing the plan, form, or style of the structure; updating fixtures (such as cabinets, bathroom fixtures, etc.) so they meet current building standards or trends.
renewal levy (Ohio)	Keeps a current levy on the taxing district’s records. The same amount of money will be collected by a renewal levy as was being collected when the levy first took effect (was originally voted in).
replacement cost	The cost of constructing a building which has the same or similar utility using current prices; in accordance to today's standards of design and materials.
replacement levy (Ohio)	In the strict sense of the word, this levy does not actually replace a current levy. The tax reduction factor and/or millage rate is brought back to the amount of the original levy. This levy uses current real estate market values to determine, or set, the tax rates rather than the market values that were in effect when the original levy was approved.
residential property	A vacant or improved land devoted to or available for use primarily as a place to live.
restaurant	A place where meals are served to the public.
restaurant, fast food	A restaurant, generally part of a chain operation that specializes in the rapid preparation and service of a specialty food (e.g., fried chicken, hamburgers, or pizza), typically with an auto drive-through window for extra convenience.
restaurant, full service	A restaurant facility that prepares and serves food with sit-down dining for patrons rather than cafeteria-style service or fast food service.
restaurant, limited-service	A facility designed to accommodate restaurant operations with a limited serving staff of waiters/waitresses. The layout typically includes ordering and/or buffet line stations for customers.
restaurant, table-service	A restaurant facility that prepares and serves food with sit-down dining for the patrons. Also see "restaurant, full-service."
revaluation (Ohio)	The re-evaluation of all property values within a given jurisdiction for the purpose of establishing a new tax base. The revaluation’s goal is equalizing property values and adjusting property values to meet current market conditions. During a revaluation, the County Auditor must analyze recent property sales and, if necessary, adjust property values so they closely correspond to current market values. A physical inspection of the property is also required. In Ohio, through an order from the State Tax Commissioner, the County Auditor is required by State law to revalue each parcel of real property within a county every six years.
review process (Ohio)	During the revaluation process, the County Auditor, or his/her representative, re-evaluates information about neighborhoods in a particular jurisdiction after applying updated pricing schedules which are based on recent sales. This review typically occurs during the six-year revaluation.
right-of-way	The right to travel over the land of another; an easement.
riparian lease	A lease on land situated between the high water mark and the low water mark.
riparian rights	The incidental right of the owners of land bordering a lake or stream to the use and enjoyment of the water that flows across their land or is contiguous to it; entitles the user to reasonable use that does not materially diminish the quality or quantity of the water for other owners. The owners' rights are equal, regardless of their location along the stream or the time when each property was purchased. The incidental right of an owner of land abutting a body of water to use the water area for piers, boat houses, fishing, boating, navigation, and the right of access for such purposes, limited by public need if on a navigable stream. Riparian rights may also involve use of the water for irrigation and the alluvium deposited by the water. In some states, the common law doctrine of riparian rights has been superseded by the doctrine of beneficial use.
roofing, built-up	see "built-up roofing."
roofing, tar-and-gravel	see "tar-and-gravel roofing."
routing	Locating parcels on a map, specified by map, block, and card number, so the mass appraisal company’s field lister (data collector) can efficiently and easily find them.
row house	One of a series of individual dwellings having architectural unity and a common wall between each unit.
S
sale price	The actual amount of money, or other "consideration," for which a property sold. What a potential buyer is willing to pay the seller to obtain real estate. Also see "market value."
sales ratio study	A ratio study that uses sales prices as proxies for market values.
sales ratio	The ratio of a property’s appraised (or assessed) value to the sale price, or the adjusted sale price, of a property. Also see "assessment/sales ratio."
scale	A series of marks along a line used in measuring; any degree in such a series.
schedules	Lists of prices, costs for structures, such as dwelling, outbuildings, etc; also land value schedules.
seller	see "grantor"
semi-detached house	One of a pair of houses with a party wall between them.
six-year revaluation (Ohio)	see "revaluation (Ohio)."
sketch	A drawing of a structure with it’s measurements, areas, and description listing therein.
skid	A plank, log, etc. used as a track upon which to slide a heavy object; a low wooden platform.
slab	A flat, horizontal reinforced concrete area.
small acreage	A residential parcel without enough land to farm, but too much to be considered a simple lot.
solar design	A building design that makes use of the sun's energy; either active, using solar collectors outside the building envelope to gather energy for space or water heating, or passive, allowing the position and intensity of the sun to provide interior heating.
solar heating	A system that gathers the heat from the sun's rays with one or more solar collectors.
solar room	see "solar design."
sound value	The depreciated value of an improvement; a flat value of an improvement.
split	To take one parcel of property and divide it into two or more parcels; the land is divided among the parcels of property and the buildings are usually included on one of the parcels.
split-level	see "tri-level."
square feet	A measurement; 144 square inches.
standard plumbing fixtures	For mass appraisal purposes, every dwelling is considered to have five basic (base or standard) plumbing fixtures: kitchen sink, hot water heater, toilet, bathroom sink and a bathtub or shower (or combination of these two). Additional fixtures are assessed on a per-fixture basis. The value of any missing base fixtures is deducted on a per-fixture basis
stoop	A platform or small porch, usually up several steps, at the entrance to a dwelling.
story	The portion of a building that is enclosed by a floor, a ceiling, and the exterior walls.
story height	The vertical distance from the finish floor on one level to the finish floor on the level above.
structure	A permanent fabrication or construction, other than a building, that is attached or affixed to land, and that increases or enhances utilization or enjoyment of the land. "Structure" includes, but is not limited to, bridges, trestles, dams, storage silos for agricultural products, fences, and walls." (Source: Ohio Revised Code 5701.02)
studio apartment	A dwelling unit of one room that serves as an eating, sleeping, and living area, also called an efficiency apartment.
subdivision	A tract of land divided by the owner into blocks, building lots and streets by a recorded subdivision plat; compliance with local regulations is required.
subsurface rights	The rights to the use and profits of the underground portion of a designated property; usually refers to the right to extract coal, minerals, oil, gas, or other hydrocarbon substances as designated in the grant; may include a right of way over designated portions of the surface. The right to construct and maintain tunnels, subways, subcellars, pipelines, sewers, etc.
T
tar-and-gravel roofing	A built-up roofing which has a surfacing material consisting of gravel in a heavy coat of coal-tar pitch.
tax abatement	A reduction in the local taxes levied on a project for a specific period of time; may refer to a rebate of taxes previously paid due to overassessment of property.
tax exemption (Ohio)	A total exemption, or freedom from, property tax, usually granted to educational, charitable, religious, and other nonprofit organizations. Partial exemptions from ad valorem tax are also granted to homesteads in some states.
tax lien date	The date on which market values and tax rates become effective. This date is always January 1 of each year. (Note: Taxes are always paid a year behind (after) the effective lien date. For example, property values for the current valuation cycle reflect the market value as of January 1 of this year, but are payable on January 1 of next year.)
taxing district	A jurisdiction within the government unit; a township, city or village in a specific school district.
ten mill limitation (Ohio)	Provides that the total taxes levied by all taxing authorities in a taxing district cannot exceed 10 mills without voter approval.
tentative abstract (of values) (Ohio)	This report by the County Auditor lists the 100% market value of each piece of real estate in the county and the total value for each property class. It is filed with the Ohio Department of Taxation only during revaluation years. The Department may either approve or reject the values as published in this report. If the values are rejected, the Auditor must recalculate the property values to reach the target value set by the Department. If the values are approved, the Auditor may hold informal hearings. (After the informal hearings close, the auditor creates and submits the county’s final abstract of revaluation values. Also see "final abstract "(of values) and "abstract."
through-put	The amount of a commodity, usually grain, handled by an elevator during a 12 month period.
tillable	see "cropland."
topography	Surface features of land; elevation; ridges, slope, contour.
transfer	A deed or instrument used to change ownership of property.
travel trailer (Ohio)	A nonself-propelled recreational vehicle that does not exceed an overall length of thirty-five feet, exclusive of bumper and tongue or coupling, and contains less than three hundred twenty square feet of space when erected on site. Travel trailer includes a tent-type fold-out camping trailer as defined in section 4517.01 of the [Ohio] Revised Code. (Source: Ohio Revised Code 4501.01 (Q) (6) (a))
triennial update (Ohio)	In Ohio during the third year of the six-year valuation cycle, the Ohio Tax Commissioner orders the County Auditor (who is the tax assessor) to analyze and update real estate market values to reflect the current market prices based on property sales that occurred during the past three years in that Auditor’s county. Often the Auditor is ordered to make an across-the-board adjustment of property values by the percentage the county's sales indicate.
tri-level	A dwelling in which two or more floors are usually located directly above one another and one or more additional floors, adjacent to them, are placed at a different level.
trim	A layer of material covering a base of another substance, such as brick over wood framing.
triplex	A three-family dwelling in which the three living units are separated horizontally with each unit having a private street entrance.
true cash value	see "market value."
tax reduction factor (Ohio)	This factor provides for voted taxes to be reduced following a reappraisal or triennial update by a percentage so the tax yields the same dollar amount for a taxing district as collected the previous year.
U
unimproved property	A property, or a parcel of land, without access to, or having on-site, any or all of the following utilities: electric power, water or well, sewer or septic system, gas for heating. A property without buildings on it.
used manufactured home and used mobile home (Ohio)	A manufactured or mobile home the legal title to which is being transferred or previously has been transferred by an owner other than a new motor vehicle dealer. (Source: Ohio Revised Code 5739.0210 (A) (6))
V
vacant land	Unimproved land A parcel of property for which there is no improvement or building value. Also see "unimproved property."
vehicle (Ohio)	Everything on wheels or runners, including motorized bicycles, but does not mean vehicles that are operated exclusively on rails or tracks or from overhead electric trolley wires and vehicles that belong to any police department, municipal fire department, or volunteer fire department, or that are used by such a department in the discharge of its functions. (Source: Ohio Revised Code)
W
weighted mean	The weighted average of the ratios where the weights are proportionate to the sales prices. Simply put, in the averaging process, more weight is placed on the predominate range of sales in a given neighborhood. The Weighted Mean is also called the Aggregate Ratio. This is an important statistic because it is used in computing the Price-Related Differential (PRD). The Weighted Mean is calculated by summing the appraised values, then summing the sales prices, then dividing the appraised values by the sales values.
Y
yard item	A general term used for structures that do not fall under either the "outbuilding" or "exterior feature" definitions such as an in-ground swimming pool.

bond levy	A levy made to retire the principle and pay the interest on notes and certificates of indebtedness secured by the issuance of bonds.
breezeway	A covered passageway, open to the outdoors, connecting either two parts of a building or two buildings.
brick construction	A type of construction in which the exterior walls are baring walls of solid brick or brick and tile masonry.
brick veneer	A non-loadbearing single tier of brick applied to a wall of other materials.
brick veneer wall	Usually used to describe a wall made up of brick veneer applied over wood framing.
brickcrete	A type of artificial brick.
building	". . . a permanent fabrication or construction, attached or affixed to land, consisting of foundations, walls, columns, girders, beams, floors, and a roof, or some combination of these elemental parts, that is intended as a habitation or shelter for people or animals or a shelter for tangible personal property, and that has structural integrity independent of the tangible personal property, if any, it is designed to shelter." (Source: Ohio Revised Code 5701.2)
built-up roofing	A continuous roof covering made up of laminations or plies of saturated or coated roofing felts, alternated with layers of asphalt or coal-tar pitch and surfaced with a layer of gravel or slag in a heavy coat of asphalt or coal-tar pitch or finished with a cap sheet; generally used on flat or low-pitched roofs
buyer	see "grantor."
C
callback card (Ohio)	A letter or 5" x 8" card asking the taxpayer to describe the inside of a structure (heat, plumbing, etc.). It is left on the taxpayer’s door when either the field listing technician finds no one at home, or someone who is either under 18 years of age or other than the owner answers the door.
carport	a roofed space having at least one side open to the weather; often made by extending the dwelling roof to one side; primarily designed to store motor vehicles.
CAUV	see "Current Agricultural Use Value"
CAUV exemption	see "Current Agricultural Use Value"
CDU	The combined condition, desirability, utility of a property.
charter levy	The voters of a municipal corporation may adopt a charter that provides for a rate limitation which will prevail over the 10 mill limitation.
clerical error (Ohio)	An error of fact. (For example, the measurement of a building is incorrect; the number of plumbing fixtures is wrong; the land was valued using the wrong land schedule.) Prior to the approval of the final abstract, clerical errors may be corrected with the Auditor’s approval. After the final abstract has been approved, clerical errors may only be changed by the Board of Revision after the owner has filed a DTE Form 1 (Complaint as to the Assessment of Real Property). (Note: Grade and depreciation, which are judgement calls, may only be changed by the Board of Revision.)
clockwise	To move in the direction that the hands of a clock rotate; moving right in a circle pattern.
coefficient of dispersion (COD)	This measures the average percent of deviation of the ratios from the Median Ratio. This is calculated by: Subtracting the Median Ratio from each ratio; Take the absolute value of the calculated differences, add them together; Divide this number by the total number of ratios to obtain the Average Absolute Deviation; Divide this number by the Median ratio; Multiply this number by 100. The COD for single family residences and/or condominiums should be around 15.00 or less. In newer areas it should be 10.00 or less. For heterogeneous rural residential and seasonal homes it should be 20.00 or less.
coefficient of variation (COV)	This is a standard statistical measure of the relative dispersion of the sample data about the mean of the data; it is the standard deviation expressed as a percentage of the Mean. This is calculated by: Subtracting the Mean Ratio from each ratio; Square the calculated differences; Sum all of the squared differences; Divide by the total number of ratios minus 1 to obtain the variance; Calculate the square root to obtain the Standard Deviation; Divide this number by the Mean Ratio; Multiply this number by 100. The COD should be approximately 1.25 times the COV.
combination [of parcels]	Taking two or more parcels and making them one; the land and building from these parcels are combined on to one property record card. Also called "combining" parcels.
commercial card (Ohio)	Also known as "commercial property record card." Identifies the type of property record card used when valuing commercial, industrial, exempt and public utility properties.
commercial condominium	The application of the condominium concept to commercial, industrial, or office space.
commercial property	Income property; its primary purpose is the capacity of producing monetary income; many actual uses of the property are possible.
community reinvestment	see "abatement"
condition	The degree of wear-and-tear displayed by a structure relative to its age.
condominium	A multi-unit building wherein each occupant has 100% ownership of his/her own apartment and partial ownership of common elements such as hallways, elevators, plumbing, etc. A multi-unit structure or property in which persons hold fee simple title to individual units and an undivided interest in common areas.
condominium conversion	Conversion of rental properties, e.g., residential, commercial, office, or industrial buildings, into condominium ownership.
condominium ownership	A form of fee ownership of separate units or portions of multi-unit buildings that provides for formal filing and recording of a divided interest in real property.
conversion	Changing a single-family structure into a multi-family structure or a residential structure into a commercial structure.
conveyance	A deed or lease by which title or an interest in real estate is transferred.
conveyance form (in Ohio, also known as a D.T.E. Form 100)	This form is required to be filed with each sale of real property. In addition to the actual sale price of the property, a correctly completed form gives the buyers' and sellers' names, the property's address, the owner's tax billing address, the kinds of buildings (if any) on the property, the mortgage holder and type of current mortgage. The conditions of the sale (trade, life estate, leasehold, inclusion of personal property in the sale, etc.) are also to be included on this form as are any items of personal property such as vehicles, appliances, etc.
cost approach to value	(also known as replacement cost approach) The steps are: estimating the value of land by comparing the value of sold properties; estimating the current cost of reproducing any structure; estimating the extent to which any structures have depreciated; estimating the loss or gain in value because of functional and/or economic obsolescence.
crawl space	A shallow, unfinished space beneath the first floor of a structure which has no basement.
cropland	Land suitable for growing annual crops.
Current Agricultural Use Value (CAUV) (Ohio)	Also called the CAUV Exemption. A valuation procedure that values farmland on its ability to produce income rather than on its market value. Agribusiness property owners with 10 or more acres and/or having an annual agricultural production-based income of at least $2,500 may apply for this tax reduction. The State of Ohio calculates and sets the CAUV values for the state's various soil types.
current operating levy	A tax levy for the purpose of providing for legally authorized expenditures for current operating expenses of a taxing district.
current use	The present use of a property rather than the possible, or speculative, use, or the property’s highest and best use.
D
deck	An open second story porch, usually on the roof of a ground floor porch or wing; in modern architecture, may be supported by piers or cantilever and may also be at ground or first story level.
depreciation	Loss of value in real property brought about by any or all of the following: age, physical deterioration, functional or external obsolescence; or a loss in value from any cause.
depreciation, economic (also known as economic obsolescence)	A loss in value because of the location of the property and/or neighborhood influences on the property. For example a home that is surrounded by a factory, a railroad, and a polluted waterway.
depreciation, functional (also known as functional obsolescence)	A loss in value found within an improvement (building) because of its poor layout, design, excesses or over improvements, or outmoded (out-of-date) or deficient (lacking in) items, or because preferences in the market have changed since the building’s construction date.
depreciation, physical	A loss in value due to wear and tear and/or the action of the elements.
depth	The distance extending from the front line to the rear line of a lot.
dormer	A relatively small structure projecting from a sloping roof with a window set upright in the face of that structure.
D.T.E. (Ohio)	In Ohio, this term is generally used to refer to the Ohio Division of Tax Equalization, a division of the Ohio Department of Taxation.
duplex	A building designed as, or converted into, a two-family dwelling in which the two dwelling units are separated horizontally or vertically with a private street entrance for each.
dwelling	Any building or portion thereof designed or occupied in whole or in part as a place of residence.
E
easement	A right to use the land of another for a specific purpose, such as for a right-of-way or for utilities.
economic life	The period over which the improvement contributes to the property’s value.
economic life, remaining	The estimated period during which the structure will continue contributing to the value of the real estate.
effective age	The age of the building indicated by the structure’s condition and functional utility as opposed to its actual or chronological age. This is based on a comparison with similar structures in the market.
effective gross income multiplier (EGIM)	The ratio between the sale price (or value) of a property and its effective gross income; a single year’s EGI expectancy or an annual average of several years’ EGI expectancies (EGIM = V/EGI).
effective mill	Best explained/illustrated by this example: If $1,000 assessed value produces $27 in taxes, you have a 27 mill tax rate ($27 ¸ $1,000 = .027). If that $1,000 assessed value increases to $1,100 and still produces $27 in taxes because of the tax reduction factor, you have an effective millage rate (effective mill) of $27 ¸ $1,100 = .0245 or 24.5.
emergency levy (Ohio)	Similar in function to an operating levy. It brings in a fixed (specific) amount of money used for only day-to-day operation of school districts (books, salaries, supplies, equipment, building maintenance, etc.) or similar public entities. It can run no more than five years. An emergency resolution must be approved by voters for this kind of levy to become effective. It neither increases or decreases the county’s tax reduction factor. Revenue from the levy does not increase as property market values in the county increase. The levy is renewed at the same dollar amount as the original levy. The law does not allow a replacement levy. This kind of levy is exempt from the 20 mill floor limit.
emergency school levy	A tax levy approved by the voters of a school district to provide for the emergency requirements of a school district or to prevent temporary or permanent closing of a school or schools in a district. An emergency levy states an exact dollar amount to be generated.
estimated market value	The estimated sale price of a property. In Ohio, this figure is calculated based on sales, of similar properties, within the three years of either a triennial update or a revaluation.
excessive frontage	Frontage which is greater in length along the lot line than the other lots in a given subdivision. Also see "frontage."
exempt property	Either total or partial freedom from tax; total exemption such as that granted to governmental, educational, charitable, religious and similar non-profit organizations or partial exemption in reference to property taxes.
exterior feature	Porches and other unheated (non-living) areas (excluding garages and carports) that are attached to the dwelling.
F
fair market transaction	A real estate sale between a willing buyer and a willing seller, who are unrelated to each other, with neither person being under any compulsion (duress) to either buy or to sell, and with both people having knowledge of all the relevant facts about the property and the uses to which it could be put.
fair market value	The highest price for which a property will sell on the open market.
fast food restaurant	see "restaurant, fast food."
fee appraisal	The valuing of an individual property, usually for the purpose of obtaining a mortgage. Fee appraisers typically use adjusted sales values of similar properties in diverse areas of a jurisdiction to estimate the probable market value of a particular property.
fee ownership	see "fee simple estate."
fee simple estate	Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat.
fee simple title	A title that signifies ownership of all the rights in a parcel of real property, subject only to the limitations of the four powers of government.
field inspection	A physical visit to a property by an appraiser to note the topography, neighborhood characteristics (if applicable) and to inspect all structures on the property. This inspection includes either measuring, or verifying the measurements, of all structures on the property. In addition, during this inspection the buildings are typically depreciated based on their condition relative to their age. A grade factor (for the quality of the construction) is also placed on the property record card.
final abstract (of values)	In revaluation years only, the County Auditor files a final abstract of values with the Department of Taxation. The report is created after the informal hearings close. It lists the 35% value of each parcel of real estate in the county. Also see "tentative abstract" (of values) and "abstract."
finish (Ohio)	When used in reference to a basement or attic, "finished" means of the same quality materials as used in the basic living area of the dwelling (drywall or plaster, sub-floor covered with either carpet or tile/linoleum. etc.). A finished basement is usually, but not always, partitioned. A recreation room is typically not considered a finished basement (see "recreation room" below). When listing a split-level houses the lower level is often priced as a finished basement rather than as above-ground living area.
fire doors and walls	Doors and walls constructed of fire-resistive materials designed to prevent the spread of fires. A true fire wall will extend from the foundation or concrete floor to above the roof, completely separating parts of the building.
fireplace opening	The hole in a fireplace into which wood, or other burnables, is placed for burning.
fireplace stack	A stack is the chimney or ventilation source made of brick or other masonry that extends above the surface of the roof and carries the smoke from either a fireplace or a furnace to the outside of the structure. A stack on a building does not necessarily indicate that the building has a usable fireplace.
fixture	". . . an item of tangible personal property that has become permanently attached or affixed to the land or to a building, structure, or improvement, and that primarily benefits the realty and not the business, if any, conducted by the occupant on the premises." (Source: Ohio Revised Code 5701.2) Also refers to plumbing, such as a sink, a water closet, a tub, a shower, a hot tub/jacuzzi, etc.
floor furnace	A furnace that is suspended below the floor with hot air rising from the furnace through a flush grille in the floor; there are usually no ducts.
foundation	The part of the structure on which the superstructure rests. It includes all construction which transmits the loads of the superstructure to the earth.
fractional acreage	A chart of land values for specific acreages; these acreages are usually not large enough to be farmed.
frame construction	A type of construction in which there is a framework of wooden structural members for the support of all loads and the resistance of all stresses.
front foot	A standard of measurement, being a strip of land one foot wide fronting (facing) on the street, waterfront, or golf course, and extending the width of the lot; the land’s value may be quoted per front foot price.
frontage	The length of a lot line along the street or other public way.
functional obsolescence	An element of depreciation resulting from super-adequacies in the structure. Also see "functional obsolescence, incurable" and "functional obsolescence, curable."
functional obsolescence, curable	An element of depreciation; a curable (fixable) defect caused by a flaw in the structure, materials, or design.
functional obsolescence, incurable	An element of depreciation; a defect caused by a deficiency or super-adequacy in the structure, materials or design, which cannot be practically or economically corrected.
G
garage	A building which shelters a motor vehicle.
gazebo	A window balcony, summerhouse, etc. for gazing at scenery.
grade	The classification of an improvement based upon certain construction specifications and the quality of materials and workmanship. A building’s grade never changes. Also used to describe the level of the land versus the level of the street.
grade factor	A percentage measurement applied to a base grade (classification) level. Also see "grade."
grantee	A person to whom property is transferred and property rights are given by deed, trust instrument, or other similar documents; compare with "grantor".
grantor	A person who transfers property or gives the property right by deed, trust instrument, or other similar documents.
gravity furnace	A warm air heating system usually located in a basement; warm air rises through ducts to the upper levels.
gross area	The total floor area of a building measured from the exterior of the walls.
ground level	The first floor level of a structure.
H
heat pump	Self-contained, reverse cycle, heating and cooling unit; on the heating cycle, heat is collected on the outside coil and pumped inside; during the cooling cycle, heat is collected from the inside and pumped to an outside coil where it is dissipated.
high-rise building	A building which is generally over five stories, or 75 feet, in height. For differentiation in many pricing systems, high-rise apartments are three stories and above, while low-rise garden apartments of light residential-type construction are referred to as multiple residences up to three stories.
homesite	A specified amount of land for a dwelling, generally one acre or less; this term most commonly applies to agricultural or small acreage property and includes utility improvements, the dwelling, and all other structures.
homestead exemption	A release from assessment or property tax on, or the application of a lower tax rate to, property designated as a family homestead.
hotel	A facility that offers lodging accommodations and a wide range of other services, e.g., restaurants, convention facilities, meeting rooms, recreational facilities, and commercial shops. Also see "motel."
hotel, all-suite	A hotel in which space that could be allotted to meeting, banquet, restaurant, and lounge facilities is instead allocated to guest suites that include separate living and sleeping areas. Most all-suite hotels offer free breakfast and an evening cocktail hour. With only limited food and beverage facilities, all-suite hotels are usually easier to operate and typically have higher profit margins.
hotel, apartment	A furnished apartment building with more or less permanent tenants that offers hotel facilities, e.g., reception desk, telephone switchboard, maid service, utilities, etc.
hotel, convention	Hotels designed to accommodate large groups and functions. They have facilities such as one or more large ballrooms with breakout areas for meetings and conferences, exhibit space for trade shows, sample and display rooms for sales meetings, extensive restaurant and lounge capacity, and the same recreational amenities found in commercial hotels. The key component is meeting space, which should amount to at least 30 square feet per guest room. They are sometimes located next to convention centers.
hotel, extended-stay	A hotel/motel that provides a more complete set of services than extended-stay or limited-service hotels; services include room service, valet, concierge, transportation and tour services, entertainment facilities, barber shop, bellhop service, laundry service, lounge, free continental breakfast, restaurant, turndown service, morning newspapers, fitness centers, and banquet and meeting space.
hotel, full-service	see "hotel, extended stay"
hotel, luxury	A full-service hotel that features physical surroundings and services. Much of the extravagance is considered inessential but conducive to pleasure and comfort. Has the highest average daily rate. Also known as a five-star hotel or five-diamond hotel.
hotel, mixed-use	A lodging/hospitality facility combined with, or immediately adjacent to, other property types.
hotel, office	An office property designed for timesharing. Shared amenities include meeting/board rooms with state-of-the-art teleconferencing; central telephone systems; business support technologies; access to online data services; on-demand temporary offices and personnel; courier services; concierge services to arrange travel, hotel, car, restaurant, and theater reservations; discounts on furniture and office equipment; child care centers; and fitness and catering facilities. The amenities generate income to landlords while supporting the alternative office strategies of tenants. Payment for such services are either incorporated into the lease or charged on a per-use basis.
hotel, resort	A hotel, typically situated in a scenic area, that either provides or is near activities that attract leisure travelers, e.g., swimming, tennis, golf, boating, skiing, ice skating, riding, hiking, sightseeing. Resort hotels generally offer restaurant, lounge, and entertainment outlets; a fitness center; concierge and valet services; transportation and tour services; and a limited amount of meeting and banquet space. Seasonality often affects the level of occupancy. Sometimes called spa hotel.
hotel/motel unit	The smallest accommodation that can be sold to a patron; must contain a full bath, sleeping accommodations, and an entrance door with a key.
HVAC	An abbreviation for heating, ventilating, and air conditioning.
I
improved land	Land which has been provided with a water source, sewers, septic system, sidewalks, and other basic facilities used for property development. Improved land quite often has a structure on it.
improved property or parcel	A parcel of land either having access to, or having on site, any or all of the following utilities: electric power, water or well, sewer or septic system. Often a parcel having a structure(s) on it will be referred to as "improved."
improvement	" . . . with respect to a building or structure, improvement means a permanent addition, enlargement, or alternation to a building that, had it been constructed at the same time as the building or structure, would have been considered a part of the building or structure." (Source: Ohio Revised Code 5701.02) The term improvement can also include a water source, sewers, septic system, sidewalks, and other basic facilities used for property development. Improvement is also an appraiser’s term for structures on a piece of real estate.
income (capitalization) approach to value	A set of procedures through which an appraiser derives a value indication for an income-producing property by converting its anticipated benefits (cash flows and reversion) into property value. This conversion can be accomplished in two ways. One year’s income expectancy can be capitalized at a market-derived capitalization rate or at a capitalization rate that reflects a specified income pattern, return on investment, and change in the value of the investment. Alternatively, the annual cash flows for the holding period and the reversion can be discounted at a specified yield rate.
income approach to value	Uses the net income potential of a property as an indication of the property’s market value.
income stream	A steady flow of payments or benefits from an investment or property.
incomplete	Unfinished; lacking a part or parts; a percentage of a given property/building that is under construction.
industrial property	Land, improvements and/or machinery used, or adaptable for use, in the production of goods either for creating materials or by changing other materials and products; such as assembling, processing and manufacturing, as well as supporting auxiliary facilities thereof.
industrialized unit (Ohio)	Unit means a building unit or assembly of closed construction fabricated in an off-site facility, that is substantially self-sufficient as a unit or as part of a greater structure, and that requires transportation to the site of intended use. "Industrialized unit" includes units installed on the site as independent units, as part of a group of units, or incorporated with standard construction methods to form a completed structural entity. "Industrialized unit" does not include a manufactured home as defined by division (C) (4) of this section or a mobile home as defined by division (O) of section 4501.01 of the Revised Code. (Source: Ohio Revised Code 3781.06 (C) (3))
influence factor	A factor serving to either devalue or enhance the value of a particular parcel of land, or portions thereof, relative to the norm for which the base unit values were established; generally expressed in terms of a percentage adjustment.
informal hearing (Ohio)	An opportunity for the taxpayer to discuss their property’s market value in an informal setting; these hearings are held prior to the governmental unit's formal hearings (Board of Revision).
informal hearing period (Ohio)	An opportunity to discuss new property values on an informal basis. These hearings are usually in the weeks between the County Auditor’s submission of the tentative abstract of values and prior to approval of the final abstract by the Division of Tax Equalization (DTE). During and after this period, only clerical errors on a property record card may be corrected. Any other changes or error corrections must be appealed to the County’s Board of Revision.
inside levy or inside millage	Any tax rate levied inside the 10 mill limitation without a vote of the people.
is/was report	A printout of the previous 100% appraisal value and the current 100% appraisal value of each parcel over or under a given percent.
K
kiosk	A small, free-standing structure used for the purpose of sales and display of merchandise, typically found in malls.
L
land value	A specified amount given to the land either by a schedule of values or a flat rate.
landlocked parcel	A parcel of land without access to any type of road, street or highway.
lean-to	An extension to a building with a roof whose supports lean against the building.
legal description	A description of a parcel of land which serves to identify the parcel by a system prescribed by law; used to locate the parcel on land maps.
levy	Also known as a tax levy. A means of raising money for operating a government unit, such as a county, township or school. Voters in the taxing district(s) where the levy will take effect vote upon whether or not to approve the expenditure. Also see "operating levy," "emergency levy," "replacement levy," "renewal levy," "permanent improvement levy."
lister (Ohio)	A mass appraisal field inspector whose principal duty is to visit each parcel of real estate to collect and record information about the property; sometimes referred to as data collector or field listing technician.
listing a property (for reappraisal purposes)	see "field inspection."
living quarters	A portion of a dwelling, providing complete living facilities, including permanent provisions for living, sleeping, eating, cooking and sanitation.
loft	An attic-like space below the roof mainly used for storage; upper space in a barn or garage.
lot	A parcel of land that is described on a recorded plat or by a survey; usually on residential parcels; frontage and depth.
lot size	The frontage and depth of a specific lot or parcel of property.
M
manufactured home (Ohio)	A factory-built house manufactured under the Federal Manufactured Home Construction and Safety Standards Act of 1976, commonly known as the HUD Code. (Ohio) A building unit or assembly of closed construction fabricated in an off-site facility, that conforms with the federal construction and safety standards established by the Secretary of Housing and Urban Development pursuant to the "Manufactured Housing Construction and Safety Standards Act of 1974", and that has a label or tag permanently affixed to it certifying compliance with all applicable federal construction and safety standards (Source: Ohio Revised Code 3791.06). It includes all skirting, awnings, interior cabinetry, and other accessories and attachments that are permanently attached to and incorporated as part of the home, but does not include any furniture not permanently affixed to the home. (Source: Ohio Revised Code)
manufactured home manufacturer and dealer (Ohio)	Includes all persons, firms, and corporations that are regularly engaged in the business of manufacturing, selling, displaying, offering for sale, or dealing in motor vehicles, at an established place of business that is used exclusively for the purpose of manufacturing, selling, displaying, offering for sale, or dealing in motor vehicles. A place of business that is used for manufacturing, selling, displaying, offering for sale, or dealing in motor vehicles shall be deemed to be used exclusively for those purposes even though snowmobiles or all-purpose vehicles are sold or displayed for sale thereat, even though farm machinery is sold or displayed for sale thereat, or even though repair, accessory, gasoline and oil, storage, parts, service, or paint departments are maintained thereat, or, in any county having a population of less than seventy-five thousand persons at the last federal census, even though a department in a place of business is used to dismantle, salvage, or rebuild motor vehicles by means of used parts, if such departments are operated for the purpose of furthering and assisting in the business of manufacturing, selling, displaying, offering for sale, or dealing in motor vehicles. (Source: Ohio Revised Code) Also, places of business, or departments in a place of business, used to dismantle, salvage, or rebuild motor vehicles by means of using used parts are not considered as being maintained for the purpose of assisting or furthering the manufacturing, selling, displaying, and offering for sale or dealing in motor vehicles. (Source: Ohio Revised Code)
manufactured home park or community (Ohio)	Any tract of land upon which three or more manufactured or mobile homes used for habitation are parked, either free of charge or for revenue purposes, and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as a part of the facilities of the park. A development designed to accommodate multiple manufactured homes, most often land-leased communities where residents own the manufactured homes and rent the site. Formerly called mobile home park; trailer park; trailer camp.
manufactured housing (Ohio)	A dwelling that is built off site and moved to and a fixed site. Typical manufactured homes are factory finished both inside and out. A manufactured home usually has a permanently-affixed wheeled chassises for transporting the home from place-to-place and may, or may not, be attached to a permanent foundation. This term formerly referred to mobile homes or house trailers.
manufactured housing community (Ohio)	Any tract of land upon which three or more manufactured or mobile homes used for habitation are parked, either free of charge or for revenue purposes, and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as a part of the facilities of the park. A development designed to accommodate multiple manufactured homes, most often land-leased communities where residents own the manufactured homes and rent the site. Formerly called mobile home park; trailer park; trailer camp.
manufactured or mobile home (Ohio)	A building unit or assembly of closed construction that is fabricated in an off-site facility and constructed in conformance with the federal construction and safety standards established by the secretary of housing and urban development pursuant to the "Manufactured Housing Construction and Safety Standards Act of 1974," 88 Stat. 700, 42 U.S.C.A. 5401, 5403, and that has a permanent label or tag affixed to it, as specified in 42 U.S.C.A. 5415, certifying compliance with all applicable federal construction and safety standards (Source: Ohio Revised Code 3781.06 (B) (4))
marina	A boat basin that provides dockage and other services to pleasure craft. A structure along which vessels can be held or docked for loading and unloading; usually constructed parallel to the shoreline. If the long side of the dock extends into the water from the shore, it is called a pier.
market analysis	The identification and study of the market for a particular economic good or service. A study of market conditions for a specific type of property.
market area analysis	The objective analysis of observable and/or quantifiable data indicating discernible patterns of urban growth, structure, and change that may detract from or enhance property values; focuses on four sets of considerations that influence value: social, economic, governmental, and environmental factors.
market price	The actual amount of money, or other "consideration," for which a property sold.
market value	The price, in terms of money, which a property will bring in a competitive and open market under all the conditions that are required for a fair market transaction. Also known as fair market value or market price.
masonry	Anything constructed of brick, stone, tile, cement, concrete or similar materials.
mass appraisal	The process of valuing, for taxation purposes, all real property in a county or other jurisdiction following the laws of a particular State. Mass appraisal uses standardized appraisal techniques and procedures to determine uniform valuations, using a minimum of detail, within a limited time period, and at a limited cost per parcel.
median ratio	The middle ratio when the ratios are arrayed in order of magnitude. The median always divides the data into two equal parts when there are an even number of samples. When there is an odd number of samples, take the middle. It is less affected by any extreme ratios. To calculate the Median Ratio, sort the ratios in ascending order; then select the two middle ratios. Add them together, then divide by 2.
mezzanine	A partial floor between two floors, occupying a lesser area than the full floors.
mill	Abbreviation for the term millage.
millage	One tenth (1/10) of a cent, or one thousandth (1,1000^th) of a dollar. In tax language 1 mill = $1 for every $1,000 dollars of assessed value. i.e., 1 mill = .001; 10 mills = .01; 20 mills = .02, 37 mills = .037. One-thousandth (.001) of one dollar, or $1, for every $1,000 of assessed value of real estate (real property). Also see inside millage, outside millage.
mobile home (Ohio)	see "manufactured home."
mobile home, salvage vehicle (Ohio)	Each owner of a motor vehicle and each person mentioned as owner in the last certificate of title, when the motor vehicle is dismantled, destroyed, or changed in such manner that it loses its character as a motor vehicle, or changed in such manner that it is not the motor vehicle described in the certificate of title, shall surrender the certificate of title to that motor vehicle to a clerk of a court of common pleas, and the clerk, with the consent of any holders of any liens noted on the certificate of title, then shall enter a cancellation upon the clerk's records and shall notify the registrar of motor vehicles of the cancellation. (Source: Ohio Revised Code 4505.11 (A))
mobile home park	see "manufactured housing community."
modular house	A dwelling in which two sub-components are built on a steel frame in a factory. The two units are: (1) transported to a permanent location, (2) placed on a permanent foundation, and (3) connected on-location to create a dwelling. A modular home does not have a permanent hitch or a permanent wheel-base.
motel	A building or group of buildings located on or near a highway and designed to serve the needs of travelers by offering lodging and parking; may also provide other services and amenities, e.g., telephones, food and beverages, meeting and banquet rooms, recreational areas, swimming pool, shops. Also see "hotel."
motel, budget	A lodging facility that offers few on-site amenities including, but not limited to, a restaurant and/or swimming pool and that generally has smaller rooms with average-quality furnishings and finishes. The lower initial capital investment generally results in lower room rates.
motor vehicle	Any vehicle, including mobile homes and recreational vehicles, that is propelled or drawn by power other than muscular power or power collected from overhead electric trolley wires. (Source: Ohio Revised Code 4501.01 (B))
multi-family building	A building designed as a place of residence for more than two families or households.
multi-parcel property record card	A property record card created when there is more than one dwelling or more than 11 outbuildings; can be created for additional space; series card; auxiliary card.
N
neighborhood	An area containing structures with similar architectural styles, similar economic and social influences, and consistent resale values. A group of complementary land uses; a congruous grouping of inhabitants, buildings, or business enterprises. A grouping of either like or similar properties or a grouping of properties in an area with similar economic factors (such as properties near a lake or near a particular school).
neighborhooding	Grouping parcels of land together for the purposes of a mass appraisal. Also see "neighborhood."
new construction	Any improvements added to or removed from the property since the last property inspection.
new manufactured home and new mobile home (Ohio)	New manufactured home and new mobile home means a manufactured or mobile home the legal title to which has never been transferred by a manufacturer, remanufacturer, distributor, or new motor vehicle dealer to a purchaser in this state who is not a manufacturer, remanufacturer, distributor, or new motor vehicle dealer. (Source: Ohio Revised Code 5739.0210 (A) (4))
O
obsolescence	A lessening of value because of out-of-date features as a result of current changes in property design, construction or use; an element of depreciation.
obsolescence, economic (or economic depreciation)	A loss in value because of the location of the property and/or neighborhood influences on the property. For example, a home that is surrounded by a factory, a railroad, and a polluted stream.
obsolescence, functional (also known as functional depreciation)	A loss in value found within the improvement because of poor layout, design, excesses or over improvements, or outmoded (out-of-date) or deficient (lacking in) items, or because preferences in the market have changed since the building’s construction date.
occupancy	The use, or intended use of a building.
open book period (Ohio)	see "informal hearing period."
operating levy (Ohio)	Used to raise funds for any legal expenditure. Is most often used for day-to-day operation of school districts (books, salaries, supplies, equipment, building maintenance, etc.). May be either for a limited period (i.e., 3 years) or an indefinite period. Revenue collected by the levy does not increase as real estate market values in the county increase. Personal property and public utility real estate property market value increases and decreases will produce more, or less, income, respectively.
outbuilding	Buildings, other than a dwelling or garage, that are detached from the dwelling. Usually agricultural-type structures. On residential properties these are often called "yard items."
outside levy or outside millage	Any tax levy that exceeds either the 10 mill, or city charter, limitation and must be approved by the voters
overhang	A finished portion of a building having full story height which extends beyond the foundation wall, or beyond the exterior walls of the ground story.
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parcel	A specific portion of land. A parcel can be any size from as small as a subdivision lot, or a portion of same, through a farm or industrial complex. A piece of land held in one ownership. A parcel may be improved or unimproved.
parcel number	A permanent identification number which is assigned to each parcel within a taxing jurisdiction
parcel of real estate	Land, with or without buildings or other improvements. Also see "parcel" above.
park trailer	A vehicle that is commonly known as a park model recreational vehicle, meets the American national standard institute standard A119.5 (1988) for park trailers, is built on a single chassis, has a gross trailer area of four hundred square feet or less when set up, is designed for seasonal or temporary living quarters, and may be connected to utilities necessary for the operation of installed features and appliances. (Source: Ohio Revised Code 4501.01 (Q) (6) (e))
patio	An outdoor area adjoining or enclosed by the walls of a dwelling; often paved and shaded.
permanent foundation (for a manufactured home) (Ohio)	A permanent masonry, concrete, or locally approved footing or foundation, to which a manufactured or mobile home may be affixed.
permanent improvement levy (Ohio)	A special tax levy to raise funds to pay for a specific permanent improvement (i.e., construction & repair of buildings, sidewalks, parking garages, etc.) which has an estimated life of 5 or more years. Usually limited to a period of five years or less. Money is generated as it is collected from taxpayers, therefore, no interest is paid on the money by the taxing entity. (A renewal levy is at the same effective tax rate as the original levy. A replacement levy is collected using the original millage rate.)
permanently sited manufactured home (Ohio)	Permanently sited manufactured home means a manufactured home that meets all of the following criteria: (a) The structure is affixed to a permanent foundation and is connected to appropriate facilities; [see "permanent foundation (for a manufactured home) (Ohio)"] (b) The structure, excluding any addition, has a width of at least twenty-two feet at one point, a length of at least twenty-two feet at one point, and a total living area, excluding garages, porches, or attachments, of at least nine hundred square feet; (c) The structure has a minimum 3:12 residential roof pitch, conventional residential siding, and a six-inch minimum eave overhang, including appropriate guttering; (d) The structure was manufactured after January 1, 1995; (e) The structure is not located in a manufactured home park as defined by section 3733.01 of the Revised Code. (Source: Ohio Revised Code 3781.06)
personal property	Items or structures that are moveable and are not permanently affixed to the real estate, as specified by state statutes. Personal property includes every tangible thing that is the subject of ownership, whether animate or inanimate, including a business fixture, and that does not constitute real property as defined in section 5701.02 of the [Ohio] Revised Code. Source: Ohio Revised Code 5701.03
physical life	The total period a building lasts, or is expected to last, as opposed to the building’s economic life.
pier	A platform structure supported by pilings, extending from land into water. A short column which supports a superstructure. Evenly-spaced columns under a structure to support its weight.
pole building	A building whose principal frame and foundation are treated posts or poles, sunk into the ground, with prefabricated trusses and metal siding.
pond	A body of standing water smaller than a lake.
porch	A structure attached to a building to shelter an entrance or to serve as a semi-enclosed space; usually roofed and generally open-sided; it may be screened or glass-enclosed.
portico	A porch or covered walk consisting of roof supported by columns.
PRC (Ohio)	see "property record card."
price-related differential (PRD)	A measure of uniformity between the high and low value properties. The PRD is calculated by dividing the Mean by the Weighted Mean. This statistic should be close to 1.00. An acceptable range is between .98 and 1.03. When low-value properties are appraised at a greater percentage of market value than are the high-value properties, assessment regressivity is indicated. If the opposite occurs, it indicates assessment progressivity. When property samples are small, or the Weighted Mean is heavily influenced by several extreme sales prices, the PRD is not reliable.
property, real	A parcel of land, with or without buildings or other improvements.
property class (Ohio)	A division of like properties, such as residential, agricultural, commercial, industrial, exempt, public utility; generally based on their present use.
property inspection	see "field inspection"
property location	The address or description where the property is located; street number and name, township, county or state road.
property record card (PRC) (Ohio)	A document specially designed to record and process specific property data; it may serve as a source document, a processing form, and/or a permanent record.
property tax	Taxes paid on real estate, public utility property and tangible personal property used in business. In Ohio, property taxes are based on the budgetary requests of the various taxing jurisdictions, special assessments placed on the tax roll by those jurisdictions, and levies voted in by the people in the County.
property tax rollback (or reduction)	A reduction of property taxes to a certain period of condition, usually used to either give tax relief or prohibit windfalls in tax income due to revaluations of property. In Ohio real property owners receive a 10% tax rollback (reduction) plus an additional 2.5% tax rollback (reduction) on owner-occupied homes.
public utility	Properties devoted to the production of commodities or services for public consumption under the control of governmental agencies (such as the Public Utility Commission).
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rack rate	The quoted per-night price for a hotel or motel room.
rack storage	Winter storage for boats.
radiant heat	Coils of electricity, hot water or steam pipes embedded in floors, ceilings or walls to heat rooms.
real estate	An identified parcel or tract of land, including improvements, this term is often used synonymously with "real property".
real property, realty and land (Ohio)	". . . includes the land itself, whether laid out in town lots or otherwise, all growing crops, including deciduous and evergreen trees, plants, and shrubs, with all things contained therein, and, unless otherwise specified in section 5701.03 of the Ohio Revised Code, "all buildings, structures, improvements, and fixtures of whatever kind on the land, and all rights and privileges belonging or appertaining thereto; all the interests, benefits, and rights enjoyed by the ownership of the real estate." (Source: Ohio Revised Code 5701.02)
real property (or real estate) tax	Tax levied on land and buildings.
rear land	A property which does not front on a street or other public way; having no access to a road.
reassessment	The process of placing an estimated market value on a property for the purpose of property taxation. Also see "revaluation."
recapture rate	The annual rate at which invested capital is returned to the investor over a specified period; the annual amount, in addition to interest or return on interest (compound interest), which can be recaptured from an investment, divided by the original amount invested. When the term was coined, investors assumed that property was a wasting asset and its value could only decline due to depreciation. Today appraisers use the term when some income provision must be made to compensate for the loss of invested capital.
recreation room (Ohio)	A basement area whose "finish" is only a dropped ceiling and/or indoor-outdoor carpet. A recreation room is not considered a finished basement.
recreation camp (Ohio)	Any tract of land upon which five or more portable camping units are placed and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as a part of the facilities of the camp. A tract of land that is subdivided for lease or other contract of the individual lots is a recreation camp if five or more portable camping units are placed on it for recreation, vacation, or business purposes. (Source: Ohio Revised Code 3733.01 (G))
recreational vehicle park	Means any tract of land used for parking five or more self-contained recreational vehicles and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as part of the park facilities and any tract of land that is subdivided for lease or other contract of the individual lots for the express or implied purpose of placing self-contained recreational vehicles for recreation, vacation, or business purposes. "Recreational vehicle park" does not include any tract of land used solely for the storage or display for sale of self-contained recreational vehicles or solely as a temporary park-camp. Source: Ohio Revised Code 3733.01
refurbishing or maintenance	Basic upkeep such as painting, siding, replacing windows or roofs, and so on.
remodeling	Changing the plan, form, or style of the structure. Altering the amount of living area in a dwelling or adding more square foot area to any other structure; changing the plan, form, or style of the structure; updating fixtures (such as cabinets, bathroom fixtures, etc.) so they meet current building standards or trends.
renewal levy (Ohio)	Keeps a current levy on the taxing district’s records. The same amount of money will be collected by a renewal levy as was being collected when the levy first took effect (was originally voted in).
replacement cost	The cost of constructing a building which has the same or similar utility using current prices; in accordance to today's standards of design and materials.
replacement levy (Ohio)	In the strict sense of the word, this levy does not actually replace a current levy. The tax reduction factor and/or millage rate is brought back to the amount of the original levy. This levy uses current real estate market values to determine, or set, the tax rates rather than the market values that were in effect when the original levy was approved.
residential property	A vacant or improved land devoted to or available for use primarily as a place to live.
restaurant	A place where meals are served to the public.
restaurant, fast food	A restaurant, generally part of a chain operation that specializes in the rapid preparation and service of a specialty food (e.g., fried chicken, hamburgers, or pizza), typically with an auto drive-through window for extra convenience.
restaurant, full service	A restaurant facility that prepares and serves food with sit-down dining for patrons rather than cafeteria-style service or fast food service.
restaurant, limited-service	A facility designed to accommodate restaurant operations with a limited serving staff of waiters/waitresses. The layout typically includes ordering and/or buffet line stations for customers.
restaurant, table-service	A restaurant facility that prepares and serves food with sit-down dining for the patrons. Also see "restaurant, full-service."
revaluation (Ohio)	The re-evaluation of all property values within a given jurisdiction for the purpose of establishing a new tax base. The revaluation’s goal is equalizing property values and adjusting property values to meet current market conditions. During a revaluation, the County Auditor must analyze recent property sales and, if necessary, adjust property values so they closely correspond to current market values. A physical inspection of the property is also required. In Ohio, through an order from the State Tax Commissioner, the County Auditor is required by State law to revalue each parcel of real property within a county every six years.
review process (Ohio)	During the revaluation process, the County Auditor, or his/her representative, re-evaluates information about neighborhoods in a particular jurisdiction after applying updated pricing schedules which are based on recent sales. This review typically occurs during the six-year revaluation.
right-of-way	The right to travel over the land of another; an easement.
riparian lease	A lease on land situated between the high water mark and the low water mark.
riparian rights	The incidental right of the owners of land bordering a lake or stream to the use and enjoyment of the water that flows across their land or is contiguous to it; entitles the user to reasonable use that does not materially diminish the quality or quantity of the water for other owners. The owners' rights are equal, regardless of their location along the stream or the time when each property was purchased. The incidental right of an owner of land abutting a body of water to use the water area for piers, boat houses, fishing, boating, navigation, and the right of access for such purposes, limited by public need if on a navigable stream. Riparian rights may also involve use of the water for irrigation and the alluvium deposited by the water. In some states, the common law doctrine of riparian rights has been superseded by the doctrine of beneficial use.
roofing, built-up	see "built-up roofing."
roofing, tar-and-gravel	see "tar-and-gravel roofing."
routing	Locating parcels on a map, specified by map, block, and card number, so the mass appraisal company’s field lister (data collector) can efficiently and easily find them.
row house	One of a series of individual dwellings having architectural unity and a common wall between each unit.
S
sale price	The actual amount of money, or other "consideration," for which a property sold. What a potential buyer is willing to pay the seller to obtain real estate. Also see "market value."
sales ratio study	A ratio study that uses sales prices as proxies for market values.
sales ratio	The ratio of a property’s appraised (or assessed) value to the sale price, or the adjusted sale price, of a property. Also see "assessment/sales ratio."
scale	A series of marks along a line used in measuring; any degree in such a series.
schedules	Lists of prices, costs for structures, such as dwelling, outbuildings, etc; also land value schedules.
seller	see "grantor"
semi-detached house	One of a pair of houses with a party wall between them.
six-year revaluation (Ohio)	see "revaluation (Ohio)."
sketch	A drawing of a structure with it’s measurements, areas, and description listing therein.
skid	A plank, log, etc. used as a track upon which to slide a heavy object; a low wooden platform.
slab	A flat, horizontal reinforced concrete area.
small acreage	A residential parcel without enough land to farm, but too much to be considered a simple lot.
solar design	A building design that makes use of the sun's energy; either active, using solar collectors outside the building envelope to gather energy for space or water heating, or passive, allowing the position and intensity of the sun to provide interior heating.
solar heating	A system that gathers the heat from the sun's rays with one or more solar collectors.
solar room	see "solar design."
sound value	The depreciated value of an improvement; a flat value of an improvement.
split	To take one parcel of property and divide it into two or more parcels; the land is divided among the parcels of property and the buildings are usually included on one of the parcels.
split-level	see "tri-level."
square feet	A measurement; 144 square inches.
standard plumbing fixtures	For mass appraisal purposes, every dwelling is considered to have five basic (base or standard) plumbing fixtures: kitchen sink, hot water heater, toilet, bathroom sink and a bathtub or shower (or combination of these two). Additional fixtures are assessed on a per-fixture basis. The value of any missing base fixtures is deducted on a per-fixture basis
stoop	A platform or small porch, usually up several steps, at the entrance to a dwelling.
story	The portion of a building that is enclosed by a floor, a ceiling, and the exterior walls.
story height	The vertical distance from the finish floor on one level to the finish floor on the level above.
structure	A permanent fabrication or construction, other than a building, that is attached or affixed to land, and that increases or enhances utilization or enjoyment of the land. "Structure" includes, but is not limited to, bridges, trestles, dams, storage silos for agricultural products, fences, and walls." (Source: Ohio Revised Code 5701.02)
studio apartment	A dwelling unit of one room that serves as an eating, sleeping, and living area, also called an efficiency apartment.
subdivision	A tract of land divided by the owner into blocks, building lots and streets by a recorded subdivision plat; compliance with local regulations is required.
subsurface rights	The rights to the use and profits of the underground portion of a designated property; usually refers to the right to extract coal, minerals, oil, gas, or other hydrocarbon substances as designated in the grant; may include a right of way over designated portions of the surface. The right to construct and maintain tunnels, subways, subcellars, pipelines, sewers, etc.
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tar-and-gravel roofing	A built-up roofing which has a surfacing material consisting of gravel in a heavy coat of coal-tar pitch.
tax abatement	A reduction in the local taxes levied on a project for a specific period of time; may refer to a rebate of taxes previously paid due to overassessment of property.
tax exemption (Ohio)	A total exemption, or freedom from, property tax, usually granted to educational, charitable, religious, and other nonprofit organizations. Partial exemptions from ad valorem tax are also granted to homesteads in some states.
tax lien date	The date on which market values and tax rates become effective. This date is always January 1 of each year. (Note: Taxes are always paid a year behind (after) the effective lien date. For example, property values for the current valuation cycle reflect the market value as of January 1 of this year, but are payable on January 1 of next year.)
taxing district	A jurisdiction within the government unit; a township, city or village in a specific school district.
ten mill limitation (Ohio)	Provides that the total taxes levied by all taxing authorities in a taxing district cannot exceed 10 mills without voter approval.
tentative abstract (of values) (Ohio)	This report by the County Auditor lists the 100% market value of each piece of real estate in the county and the total value for each property class. It is filed with the Ohio Department of Taxation only during revaluation years. The Department may either approve or reject the values as published in this report. If the values are rejected, the Auditor must recalculate the property values to reach the target value set by the Department. If the values are approved, the Auditor may hold informal hearings. (After the informal hearings close, the auditor creates and submits the county’s final abstract of revaluation values. Also see "final abstract "(of values) and "abstract."
through-put	The amount of a commodity, usually grain, handled by an elevator during a 12 month period.
tillable	see "cropland."
topography	Surface features of land; elevation; ridges, slope, contour.
transfer	A deed or instrument used to change ownership of property.
travel trailer (Ohio)	A nonself-propelled recreational vehicle that does not exceed an overall length of thirty-five feet, exclusive of bumper and tongue or coupling, and contains less than three hundred twenty square feet of space when erected on site. Travel trailer includes a tent-type fold-out camping trailer as defined in section 4517.01 of the [Ohio] Revised Code. (Source: Ohio Revised Code 4501.01 (Q) (6) (a))
triennial update (Ohio)	In Ohio during the third year of the six-year valuation cycle, the Ohio Tax Commissioner orders the County Auditor (who is the tax assessor) to analyze and update real estate market values to reflect the current market prices based on property sales that occurred during the past three years in that Auditor’s county. Often the Auditor is ordered to make an across-the-board adjustment of property values by the percentage the county's sales indicate.
tri-level	A dwelling in which two or more floors are usually located directly above one another and one or more additional floors, adjacent to them, are placed at a different level.
trim	A layer of material covering a base of another substance, such as brick over wood framing.
triplex	A three-family dwelling in which the three living units are separated horizontally with each unit having a private street entrance.
true cash value	see "market value."
tax reduction factor (Ohio)	This factor provides for voted taxes to be reduced following a reappraisal or triennial update by a percentage so the tax yields the same dollar amount for a taxing district as collected the previous year.
U
unimproved property	A property, or a parcel of land, without access to, or having on-site, any or all of the following utilities: electric power, water or well, sewer or septic system, gas for heating. A property without buildings on it.
used manufactured home and used mobile home (Ohio)	A manufactured or mobile home the legal title to which is being transferred or previously has been transferred by an owner other than a new motor vehicle dealer. (Source: Ohio Revised Code 5739.0210 (A) (6))
V
vacant land	Unimproved land A parcel of property for which there is no improvement or building value. Also see "unimproved property."
vehicle (Ohio)	Everything on wheels or runners, including motorized bicycles, but does not mean vehicles that are operated exclusively on rails or tracks or from overhead electric trolley wires and vehicles that belong to any police department, municipal fire department, or volunteer fire department, or that are used by such a department in the discharge of its functions. (Source: Ohio Revised Code)
W
weighted mean	The weighted average of the ratios where the weights are proportionate to the sales prices. Simply put, in the averaging process, more weight is placed on the predominate range of sales in a given neighborhood. The Weighted Mean is also called the Aggregate Ratio. This is an important statistic because it is used in computing the Price-Related Differential (PRD). The Weighted Mean is calculated by summing the appraised values, then summing the sales prices, then dividing the appraised values by the sales values.
Y
yard item	A general term used for structures that do not fall under either the "outbuilding" or "exterior feature" definitions such as an in-ground swimming pool.