BUTLER COUNTY, Ohio -- A tax break is on the way to thousands of Butler County residents. The dropping value of property has triggered the county auditor to revalue homes even though he's not required to do it for for another two years.
Butler County Auditor Roger Reynolds said most people are paying taxes on more than their house is worth. He said it's wrong so he's fixing it.
"We made a commitment that if home values continued to drop we would come back in 2009 and review the values and indeed what we're seeing is home values continue to decline," said Reynolds.
According to Reynolds, some homeowners will see no reduction, others may see a difference of a few dollars or a few hundred dollars. He expects the biggest impact will be on homes in Middletown, Hamilton and parts of Trenton.
The reduction will not change what homeowners pay on levies approved by voters. The reduction will only impact the part of the tax money that goes to the general fund of the county and the community where the home is located.
John Reed is retired. He's thrilled to hear his West Chester home is about to go through a revaluation.
"I thought it was about time," said Reed.
Homeowners will take what they can get in these tough times.
"Any penny counts," said Reed.
County and township leaders tell 9News the money they'll be losing out of the revaluation is a small portion of what they use to operate. It will make more of a difference in some areas than others.
Liberty Township Trustee Christine Matasic said, "We do have a very healthy reserve so if we do have a missing piece we are not going to miss out on providing services to our residents at this time. If the trend continues, that's when we'll have to take a harder look at what we're doing."
Reynolds said, "It's not my job to raise revenues. My job is to put a fair, conservative value on homes."
Butler County homeowners will receive a letter in the next few months to notify them of the exact impact this will have on their property taxes.
