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Updated 6 months ago on . Most recent reply
Crazy property tax increase in Cincinnati Ohio
Hey guys,
I bought a 4 unit in Cincinnati in 2020. This month my mortgage payment jumped overnight from $2100 to $3000. Called the mortgage company and they said my insurance has gone up somewhat, but its mostly my property taxes. Then I did a Hamilton county auditor property search and saw my property value went from 167k to 320k, to the amount I bought it for a few years ago. So basically Ill be paying 12K a year for property taxes on a 320k building. Does that sound correct? Can anything be done about this? That's basically a 3.75% tax rate for Hamilton County. Whenever I do any google searches I don't see any rates that high. Seems astronomical to me.
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#4 Out of State Investing Contributor
- Real Estate Agent
- Columbus, OH
Quote from @Timur Salikov:
Hey guys,
I bought a 4 unit in Cincinnati in 2020. This month my mortgage payment jumped overnight from $2100 to $3000. Called the mortgage company and they said my insurance has gone up somewhat, but its mostly my property taxes. Then I did a Hamilton county auditor property search and saw my property value went from 167k to 320k, to the amount I bought it for a few years ago. So basically Ill be paying 12K a year for property taxes on a 320k building. Does that sound correct? Can anything be done about this? That's basically a 3.75% tax rate for Hamilton County. Whenever I do any google searches I don't see any rates that high. Seems astronomical to me.
You should have gotten a letter to contest the increase. A lot of property owners missed this letter though
- Remington Lyman
