On the heels of my last post where I dicussed how declining property values won't lower our taxes, I find this... a letter posted on the Franklin County Auditor's website. Read the letter from Joe Testa, the Auditor, here.
Here's the summary:
Joe Testa, Franklin County Auditor has ordered no increase in residential values for the 2008 appraisal update. Unless homeowners improve their property or voters pass new levies, there will be no increase in residential real estate taxes payable in 2009, 2010 and 2011.
County-wide property sales during the past three years are about 3% over the 2005 appraised values. The decreased number of market sales, flattening of the real estate market and the increase in foreclosures indicate there is not a sufficient basis for an increase in taxable value.
Dan Hamilton
Keller Williams Greater Columbus Realty
www.HamiltonHomesGroup.com
Columbus Real Estate
Franklin County Auditor
Property Taxes
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