CINCINNATI — Several neighborhoods in Cincinnati are climbing the list of desirable places to work to live. But that welcomed news can come with an undesirable consequence of development: rising property taxes.
According to a recent Wallet Hub study, Ohio has the 13th highest property taxes in the nation, and Hamilton County has the highest rate in southern Ohio. Home valuations keep hitting new records in Cincinnati neighborhoods like Hyde Park and Mt. Lookout.
In 2018, some city leaders responded to the issue of rising property taxes, especially for senior citizens who want to remain in their homes, by establishing the Property Tax Working Group — a project to study trends related to property taxes.
The Property Tax Working Group will hold a public meeting Tuesday, April 2, from 6 to 8 p.m., at William H. Taft Elementary School (270 Southern Ave.). You are invited to share your thoughts on this topic. pic.twitter.com/cXF0ZByDyX
— City of Cincinnati (@CityOfCincy) April 1, 2019
The Property Tax Working Group is holding a public meeting at 6 p.m. Tuesday at William H. Taft Elementary School located at 270 Southern Avenue.
It is asking residents to come and share experiences related to property taxes in their neighborhoods.
Vice Mayor Christopher Smitherman, and other council members, submitted a motion on Sept. 5, 2018, to create the working group.
“Recognizing we are appreciative of development and redevelopment in the City of Cincinnati and we applaud these efforts,” the council members said in a written 2018 statement, “However, because the City is growing, we anticipate that seniors in all 52 neighborhoods might be negatively impacted by rising property values in the future.”
A March, 2019 report by WCPO found the owners of a $345,000 home now pay more than $9,000 a year in property taxes. A home valued at $430,000 sports a $14,000 tax bill.
The city also invites residents to voice their opinions on property taxes by taking this short survey.