Why are property taxes so high and complicated in Columbus?

[Shrikant Kakani]

I'm looking to invest in one of the multi-family properties in Columbus and the purchase price is going to be $300K for 4 units. Currently, the owner is paying around $5,400 in property taxes as confirmed from https://treapropsearch.frankli... website. The tax summary is shown in the image attached. My question is how is the "100% tax value" calculated? Is that the purchase price? From taxable income and tax paid, the tax rate is coming out to be 7.2% (5460/75600) which is really high! Assuming 8% property management, 8% repairs & maintenance, 8% cap expenditure, and 5% vacancy, the property is already generating negative cash flow and if the property taxes are increased, it'll be even worse. Is there something I'm missing out on? Any guidance will be helpful :)

PS: I have looked at several other websites for more information on property taxes but it's more and more confusing since each website is stating different facts.

https://smartasset.com/taxes/o...

https://apps.franklincountyaud...