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Updated over 7 years ago on . Most recent reply
Property tax 2017 reappraisals
Franklin county reassessment and reappraisals have hit transitional areas like Merion Village and Olde Towne East pretty hard. Anyone who has BRRR will see that their values have increased significantly.
Are there any good tools to estimate the reassessed property taxes?
My understanding of Ohio law (which is suspect at best) is that school levy millage must be reduced when the overall tax base increases. Therefore property taxes do not scale 1:1 with property values. It will just get redistributed based on updated values. This makes it impossible to estimate.
Any good tools out there that could help?
Most Popular Reply
Time to buy a lottery ticket Jessie Niu before your luck runs out!
The appraisal value is not tied to your financing so I think you just got lucky on this one. I have a similar case where I bought one cheap with cash. I fixed it up and my new value went up 566%! No joke!!