Property Taxes Spike

[Jim Basar]

Hi All, 

First time posting to BiggerPockets. I own a single family primary residence and a rental property, both in Cleveland, OH.  One in Tremont, the other in Ohio City.  I've noticed that going into 2023 my property taxes have spiked pretty dramatically.  I see that the assessed value for 2023 on my rental has increased from  $77k for years to my purchase price of $170k (purchased in 2020). That does make sense to me that it would change. The value on my primary residence went from $250k before I bought it to $334k this year (purchased for $260k in August of 2021).  That one doesn't make as much sense to me. 

All in all, my taxes have increased over $1600 and $760 respectively for the year. 

Just curious if anyone has ideas of how to lower the tax burden on these properties, as $13k/year in property taxes is one of my largest expenses! I know that I could go to the county to try to discount the value of my primary residence, but is that even worth the effort? 

Any ideas/recommendations would be appreciated!  Thanks!

[John T.]

In some states, taxpayers are permitted to protest their tax assessment.

A protest of a tax assessment refers to the process of challenging the amount of tax that has been assessed by a tax authority. This can be done if a taxpayer believes that the assessment is incorrect or unfair.

The specific procedures for protesting a tax assessment vary depending on the jurisdiction and the type of tax involved. In some cases, a taxpayer may be required to file a written protest with the tax authority, outlining the reasons why they believe the assessment is incorrect. The taxpayer may also be required to provide supporting documentation or evidence to support their protest.

If the protest is successful, the tax authority may adjust the assessment to reflect the correct amount of tax owed. If the protest is unsuccessful, the taxpayer may have the option to appeal the decision to a higher authority or court. It is important to carefully review the procedures and deadlines for protesting a tax assessment, as failing to follow the correct procedures may result in the protest being dismissed. If you are considering protesting a tax assessment, it is recommended that you consult with a tax professional or attorney for guidance.