Have you heard about this?? I just completed a meeting with a couple of the people from the County Auditor’s office and boy – was it informational! I’m sure I received a card in the mail (like you probably did) saying something about Tax Value – but honestly, I didn’t pay any attention to it. NOW – I wish I had at least looked at it closer!
SO here is the “deal” as I can best make a synopsis of the meeting: Our State REQUIRES a full evaluation of properties every 6 years, and they do a 3 year Triannual value. The difference is this – the 6 year is more in-depth and actually includes a property visit, along with speaking to homeowners and complete review of the previous three years of VALID SALES.
You might ask – WHY is this important to me?? Well – because they are putting the information together RIGHT NOW to determine what the “VALUE” of your home is going to be – come Jan 1st. IF there is a huge disparity (either too high or too low) NOW is the time for you to express your concern and see about getting an Informal Hearing.
What they can’t say is will this be a raise or reduction in taxes – as it is only a valuation base they are setting (taxes depend on levies, etc that have been passed and are specific to cities – not just overall county.) However, the proof is evident that while the real estate market has been challenging – we – MONTGOMERY COUNTY have actually faired well with overall property values increasing a HALF PERCENT. (No huge gains or losses to ride the roller coaster ride of the east or west coast real estate market.) Our area is STABLE in terms of the market and therefore BETTER for living, buying, selling and starting businesses – pass that along to those who talk of gloom and doom.
There was so much good information that I can’t begin to tell you everything – here are some links for you to check this out yourself. Also, if you didn’t get your card in the mail – watch for a TENTATIVE VALUE mailing that is being done in the next few weeks – or check on-line. Call or email me if you want to talk more about what I understand of this and how it could affect you or your property – but understand – they are the “experts” who are in a position to offer even more clarification for you.
- Montgomery County Auditor SITE
- from there you can go to 2008 Reappraisal
- and go to Reappraisal I-Card for additional information about Understanding Your Home Value
- Informal Hearings Schedule for those who want to address more on their specific property
I also asked about surrounding counties – it seems Greene, Butler and Clarmont are also doing a full Reappraisal. Hamilton County is in a Triannual. Warren and Miami Counties will be doing a Reappraisal next year.