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Franklin County Property Reappraisals.


jagr

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http://www.columbusunderground.com/franklin-county-property-reappraisal-begins-next-week

So I received my property reappraisal letter today. It dropped $9800.

So that's $9800 I won't be paying taxes on.

How else does this affect homeowners?

How did you fare?

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I am told only a few areas did not drop. Sections of Worthington, Clintonville and Grandview remained almost unchanged.

Rosso. You will be able to sit down face to face to discuss your property reappraisal.

Details here.

http://m.columbuslocalnews.com/articles/2011/07/05/multiple_papers/news/alltax%207-6_20110705_0915am_3.txt

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Rosso. You will be able to sit down face to face to discuss your property reappraisal.

Details here.

http://m.columbuslocalnews.com/articles/2011/07/05/multiple_papers/news/alltax%207-6_20110705_0915am_3.txt

Won't due any good. My neighborhood is one like Moose's, a Dominion Condo development.

Lots of people lost their homes here cause they didn't do their homework before signing,

so now us responsible homeowners have to pay the consequences of lower home values thanks

to all the foreclosures surrounding us.

Homes here were valued between $135 - $180K I think when they were first built,

they go for well under $100K now at auction. Heck, this reappraisal puts me under $100K already :nono:

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Whitehall was the biggest hit with an average 14% drop.

But I was checking values on Realtytrac, and I have the opinion that huge numbers of homes are still in foreclosure with more to come. And that whatever a bank asks for a property, you can buy it for half of that. And that some home owners just give up and sell for anything they can get. It's far from over.

edit: a friend's neighborhood in Columbus near Bexley, had 5 houses on the same street, all foreclosed and all sold for 25k-30k each.

Edited by ReconRat
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I guess it really shouldn't bother me much, we have no plans on selling

or moving and it should eventually lower our mortgage payments since our

insurance should go down. :o

EDIT: I meant property tax, not insurance.

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I guess it really shouldn't bother me much' date=' we have no plans on selling

or moving and it should eventually lower our mortgage payments since our

insurance should go down. :o

EDIT: I meant property tax, not insurance.[/quote']

You got it right. I'm in the Hilliard area and valuation went UP $1k. So, I'll be paying about the same. At least I hope. The Dispatch article seemed to indicate the property taxes were relative. So, my taxes might go up for my house that stayed the same in value since the general value in the area declined. It's just a tax thing for me too. I'm not going anywhere.

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Currently (with most banks not processing for several months)

Ohio - 70,193 foreclosures

Cuyahoga county - 9189 foreclosures

Franklin county - 7071 foreclosures

Hamilton county - 5864 foreclosures

Montgomery county - 3898 foreclosures

Butler county - 3415 foreclosures

Licking county - 1206 foreclosures

Delaware county - 837 foreclosures

Fairfield county - 539 foreclosures

Madison county - 270 foreclosures

Pickaway county - 208 foreclosures

Hocking county - 68 foreclosures

edit: not bad compared to Detroit area which has 47,000+

or Chicago, 75,000+, Cook county Illinois has 66,374 by itself.

Edited by ReconRat
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We have discussed this before but I wouldn't expect to see much of a drop in property taxes. A tax levy has to produce the same amount of money no matter what the overall value of property in an area is valued at. If all properties in an area lose 50% of their value it only makes the rate higher to generate the same money. This is only for levy money and not percentage money but levy money is usually the largest portion of property taxes in Ohio.

http://chronicle.northcoastnow.com/2010/02/06/though-property-values-down-county-taxes-can-still-rise/

Edited by Uncle Punk
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My taxable value has not dropped due to the economy. Our area just didn't lose house values because of so much new development, net strip malls etc. Any loss in value from the economy was balanced by an increase in value due to improvements in local amenities.

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We have discussed this before but I wouldn't expect to see much of a drop in property taxes. A tax levy has to produce the same amount of money no matter what the overall value of property in an area is valued at. If all properties in an area lose 50% of their value it only makes the rate higher to generate the same money. This is only for levy money and not percentage money but levy money is usually the largest portion of property taxes in Ohio.

http://chronicle.northcoastnow.com/2010/02/06/though-property-values-down-county-taxes-can-still-rise/

Yes. House bill 920 passed decades ago protects taxpayers from large tax increases and also protects government orgs like school districts from LOSING levy revenue from property tax decreases.

http://www.schoolfundingmatters.org/content/HB920.aspx

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