Not too late, but very close. All tax appeals for 2008 taxes which are really paid this year in 2009 must be filed by next Tuesday, March 31st. It is an easy process and pretty likely to be successful since all the tax values were done based on sales in 2005 & 2006 when homes were selling for much more. Anita Lopez, Lucas County Auditor, has been very committed to homeowners not paying more in property taxes than is fair ie based on a real market value of their home or just what their home would really sell for today.
Here is the process...Go on-line the to this site http://Lucas County Board of Revision to read instructions and print off the form. You'll need to supply recent sales for homes in your neighborhood to support your claim that your home would sell for less than the current tax value. Call me or any agent who you have a relationship will for help with the recent sales. Note that the Complaint must be notarized.
If you miss this deadline, you can still request a re-valuation to apply to your 2010 tax bill. One other note, appeals can be made only once every three years.