Sycamore Taxpayer

5 Responses to “Your Property Tax”

1. Administrator says:

   December 12, 2011 at 9:14 am

   Property owners in the Cincinnati Public School district will have to pay slightly more next year in property taxes because of a technicality in the way school levies work.
   ..Because of declines in property values, two emergency levies for the district of nearly 33,00 students are collecting $1.9 million less than anticipated. The district is required to increase the levy millage to keep pace with the dollar amount that voters agreed to give to the schools when they passed those levies. The district is increasing the millage of the two levies by a total of .35 mills – from 19.06 mills to 19.41 mills. The change will cost the owner of a home valued at $100,000 and additional $12 in property taxes annually. CPS increases the millage of a levy last year due to low property value estimates. In 2008 it decreased levy millage because property values had gone up.
   ..Source: Shortfall forces CPS to increase property tax THE ENQUIRER 12/8/11 C3
2. Administrator says:

   June 4, 2011 at 8:21 pm

   Appraisers go by recent comparable sales six months back to establish a value for a house, and Realtors go back six to 12 months to do the same thing, she (Jessica Bauer) said.
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   It’s a good thing to have a low value because you’re paying lower taxes while you own the property,” said Christopher Finney, a leader of the anti-tax group Coalition Opposed to Additional Spending and Taxes.
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   For taxpayers: The lower assessed values may mean higher tax rates – though not necessarily higher tax bills. When voters pass levies for school or police or roads, those levies are for set dollar amounts. As assessed values fall, each property will have to chip in a higher percentage of the home’s value to ensure the levy brings in what it’s supposed to.
   .
   Those with properties whose value declined less than neighbors’ will end up paying more taxes; those whose properties declined more than their neighbors’ will pay less.

   Source: County values your say. By Sharon Coolidge. The Enquirer , 6/4/11 A1
3. Administrator says:

   April 25, 2011 at 7:51 pm

   Hamilton County property owners are $5 billion poorer than they were last year.
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   A once-every-six-years reassessment found that the county’s property is now valued at $57.6 billion – an almost 8 percent drop from what properties had been assessed last year.
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   The declines – which Rhodes said are unprecedented – will have huge repercussions for taxpayers, governments, and real estate buyers and sellers:
   • For taxpayers, the lower assessed values may mean higher tax rates – though not necessarily higher tax bills. When voters pass levies for schools or police or roads, those levies are for set dollar amounts. As assessed values fall, each property, on average, will have to chip in a higher percent of the home’s value to ensure the levy brings in what it’s supposed to.
   .
   Those with properties whose value declined less than their neighbors’ will end up paying more taxes: those whose properties declined more than their neighbors’ will pay less.
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   When schools or villages ask for levies on a ballot, the rates sought for those levies may seem higher than in the past, and could make them less likely to pass.

   • A decreased assessment could lead to a lower sale price.

   One factor in the property value decline: an onslaught of foreclosures or sales of distressed property at rock-bottom prices.
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   Final values will be set this fall. Residents won’t know the effect of the reappraisals on their taxes until they get their first 2012 tax bill.
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   Property value by municipality
   Blue Ash: 14.86% change 2010-2011
   Montgomery: -7.46% change 2010-2011
   Indian Hill: -12% change 2010-2011
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   Source: Hamilton County property lost $5 billion in value Housing crash took toll in foreclosures and desperation sales. By Sharon Coolidge and Lisa Bernard-Kuhn THE ENQUIRER 4/21/11 A1
4. Administrator says:

   March 6, 2011 at 5:21 am

   Ohio Local Law Tax Basics

   http://www.beavercreektax.net/tax_laws.html =
5. sycamoretaxpayer1 says:

   January 26, 2009 at 10:18 am

   This letter appeared in the Jan. 26, 2009 Enquirer.
   Home values set to market
   In regard to the letter “Property audit outrageous” (Jan. 16), the county auditor’s office is required by state law to set values to current market. We set values. Residents of each community set their taxes by voting for tax levies. Our new values are being compared by some to recent, short-term market activity when they are actually changes from the previous value set as of Jan. 1, 2005. We have no legal authority to extend “sympathy,” if that means arbitrarily lowering a value, to any property owner for any reason. We have to follow the law.
   —Dusty Rhodes
   Hamilton County auditor