Columbus Ohio (Franklin County) Property Tax Question

[Mike Hsiao]

Hello All,

I'm currently looking for a multi-family property in the Columbus OH area. One thing that concerns me is the step up in property taxes being above 2%. This really hurts CoC returns, and wanted to see if there are any other options other than the below that I've found.

1. Finding a property with a long Tax abatement would be preferred. That solves the issue for a certain time.

2. "Drop and Swap". This is new to me, but sounds like a way to convey the property from one LLC to another, in order to keep the original property tax rate. Although there is NO guarantee this would be approved.

So just wanted to see if there are any other ideas, if any, to avoid the step up in property tax.  Or if anyone has any experience on the "Drop and Swap".