why such huge tax increase in property taxes Hamilton county OH?

Question

I bought a turn key property in January 2020 for $180K.

I did not do any additions or anything. Just simply renting it out.

Recently got a mail from escrow company saying that there is a shortage and my monthly payment will be significantly increases.

I checked out realtor.com and this is what I see.

How is it such a huge tax increase? What should I do?

Tim Herman · Answer

@Pollyanna Gomez You bought a property in 2020 that was fixed up in 2019. It was still being assessed at the old price. Look at the last column. In 2019 total assessment was 24.5k and your new assessment is almost 63k. Whenever a major reconstruction goes on the assessed value goes up. You can always protest the assessed value is wrong. You paid 180k and the assessed value is 63k don't think you will win. This will be a learning experience for you. Hopefully you cash flow enough to cover the increase in taxes.

why such huge tax increase in property taxes Hamilton county OH?

why such huge tax increase in property taxes Hamilton county OH?

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