Montgomery County, Ohio (WDTN) – Final findings came out after a one-year project initiated in February 2020 to revalue the property of Montgomery County. Carl Keith, an auditor in Montgomery County, says there was an overall 13% increase. With property values for the entire county. This is now in effect in 2021 and some homeowners have expressed concern about property taxes.
However, Keith says that an increase in asset value does not mean a total tax increase.
“The total value increased by more than 13%, but the tax increased by only 4%,” Keith explained. “It’s one of the myths we’re trying to dispel, that taxes have no correlation with value.”
In a survey conducted by the Montgomery County Audit & Supervisory Board, about 82% of homeowners in the county saw real estate prices rise, but only 53% of homeowners saw tax increases. Keith also says that one-third of county real estate owners should actually see their tax cuts.
According to Keith, property values are rising across the state. Neighboring counties, such as Greene and Preble counties, saw a similar percentage increase as Montgomery county, while Franklin county saw a 20 percent increase. According to Keith, this shows that the market remains “hot” and sales are growing. Keith reports that his office saw 244 real estate transfers just on Monday.
“It’s just a reflection of what’s happening in the real estate market,” he said.
However, Keith also acknowledges that tax increases, such as during a pandemic, can cause problems for Ohio homeowners.
“For those who use bonds, any kind of increase is a burden and we understand it.”
Currently, it is the period of appeal for real estate value. Keith also says his office provides homeowners with payment plans and other assistance.Click for more information Here..
Asset values have risen in Montgomery County, but not all homeowners pay more taxes
Source link Asset values have risen in Montgomery County, but not all homeowners pay more taxes