MONTGOMERY COUNTY, Ohio (WDTN) – After a year-long project aimed at reevaluating Montgomery County property values, the final findings are in.
Montgomery County Auditor, Karl Keith, says overall there was a 13 percent increase in property values across the county. This is now taking effect in 2021, causing some homeowners to raise concerns about their property taxes.
However, Keith says increasing property values did not mean an increase in taxes across the board.
“Total values increased by more than 13 percent, but taxes only increased by 4 percent,” Keith explained. “That’s one of the myths that we’re working to dispel, that taxes do not correlate with the value.”
In a study done by the Montgomery County Auditor’s office, about 82 percent of homeowners in the county saw a property value increase, but only 53 percent of homeowners are seeing their taxes increase. Keith also says a third of the county property owners should actually see a decrease in their taxes.
Across the state, property values are going up according to Keith. Neighboring counties like Greene County and Preble County saw a similar percentage increase as Montgomery County, while Franklin County saw a 20 percent increase. Keith says this shows that the market continues to be “hot” and sales are flying. Keith reports his office saw 244 property transfers just on Monday.
“It’s just a reflection of what’s going on in the real estate market,” he said.
But Keith says he also recognizes that any increase in taxes, during a pandemic or otherwise, can cause problems for Ohio’s homeowners
“For those folks that are on fixed incomes, any type of an increase is a burden and we understand that.”
Right now is the appeals periods for property value. Keith also says that his office offers payment plans and other help for homeowners. For more information, click here.