Properties that flooded in the Great Flood of 1913 and now benefit from the Miami Conservancy District’s flood protection system pay an annual flood protection assessment to cover the necessary, ongoing maintenance of the dams, levees, storage basins, and related parts of the flood protection system. This payment is based on the value of the benefit. The benefit is appraised by the Miami Conservancy District Board of Appraisers.
A readjustment of the appraisal benefit record occurs when the Miami Conservancy District updates the property values used in calculating flood protection benefits, which is then used to calculate flood protection assessments. The Appraisal of Benefits has been readjusted six times since 1922.
Learn more about assessment calculations, rates, and benefits
How often does a readjustment happen?
The property values used in appraising the flood protection benefit can only be updated every 6 years per Ohio Revised Code. It is not a requirement that the Miami Conservancy District readjusts its appraisal of benefits, only that it cannot happen more frequently than every 6 years.
The most recent readjustment was completed in 2012 (also referred to as the 6th Readjustment) for assessments collected annually beginning in 2013. These 2012 property values will continue to be used until another readjustment occurs.
Why is readjustment necessary?
Once a readjustment is performed, those property values are used until the next readjustment occurs, regardless of any positive or negative value changes to the land or property between readjustments. Readjustment ensures that individuals and counties are not paying more than their fair share in the distribution of the cost to maintain the flood protection system.
History of MCD Benefits
Original Appraisal Record
First Readjustment of Benefits
Second Readjustment of Benefits
Third Readjustment of Benefits
Fourth Readjustment of Benefits
Fifth Readjustment of Benefits
Sixth Readjustment of Benefits
Seventh Readjustment of Benefits