Butler County homes losing value

HAMILTON, Ohio - Butler County residents are in for a shock: their homes are losing value.

The county auditor has recently sent out notices with new home value appraisals.

Throughout the county there has been a 4.3 percent drop in a homes worth. Middletown has been hit the hardest with an 8 percent cut, followed by Hamilton at 7 percent, West Chester at about 5 percent and Fairfield under 3 percent.

“It went down by about $2,000. So, from a tax standpoint it’s a relief. But, it was depressing to see that home values are still down,” said Tracey Carson, Butler County homeowner.

Sibcy Cline realtor Bob Sanwald said homeowners have to face reality. “They’ll find they need to sell the house or list it for the price they paid for it and they may end up losing money in the sale,” said Sanwald.

For prospective home buyers, lower home values poses an opportunity and future homeowner Andrea Browne is taking advantage of it. “You can get more for your money now because house, the prices have really gone down,” said Browne.

In some cases, the new county appraisals could lower a homeowner's tax bill.

To learn more about contesting the auditor’s appraisal call the Butler County’s auditor at (513) 887-3154.