WITH STRIKE LOOMING, RTA UNION CHANGES LEADERSHIP
Southern suburbs account for 75% of total increase in value; this is dramatic turnaround, auditor says.
Montgomery County property owners will soon find a notice in the mailbox from the auditor’s office showing final values from a recent three-year update.
And the values will be higher for about 60 percent of the county’s residential property owners.
An owner who wishes to contest a new value can file an appeal with the Board of Revision between Jan. 2 and March 31.
Countywide, the market value of housing is up 6.3 percent, largely based on real estate activity between 2014 and 2016. During the prior 2014 review, 70 percent lost value, dragged down by the lingering fallout from the Great Recession and a sub-prime mortgage crisis.
“This is a dramatic turnaround for us to see an increase in value,” said Montgomery County Auditor Karl Keith. “Just about every community in the county saw an increase in value for their residential property owners, including Dayton, Trotwood and other areas that had been struggling in recent years with their housing markets.”
The notices are scheduled to be mailed out today, according to the auditor’s office.
The county’s southern suburbs saw most of the growth. Washington Township, Kettering, Oakwood, Centerville, Miami Township and Miamisburg accounted for 75 percent of the total increase in value.
By percentage, Oakwood’s values — buoyed almost entirely by residential sales — rose the most, nearly 13 percent. The gain in values countywide will mean an increase for some in the un-voted portion of property taxes. The owner of a $100,000 house that increased in value 6 percent from the last review will pay about $19 a year more. Currently that homeowner pays about $306. The inside millage accounts typically for about 10 percent of an overall property tax bill, according the auditor’s office.
The Board of Revision (BOR) is a quasi-judicial body that allows individuals to present evidence for a change in a property’s value. During the BOR process, the complainant has the burden of proof and must provide information, evidence and facts that demonstrate market value of a property, according to the auditor’s office. More information about the process can be found at www.mc-bor.org.
Final property values are also online at www. mcrealestate.org.