Crazy property tax increase in Cincinnati Ohio

[Timur Salikov]

Hey guys, 

I bought a 4 unit in Cincinnati in 2020. This month my mortgage payment jumped overnight from $2100 to $3000. Called the mortgage company and they said my insurance has gone up somewhat, but its mostly my property taxes. Then I did a Hamilton county auditor property search and saw my property value went from 167k to 320k, to the amount I bought it for a few years ago. So basically Ill be paying 12K a year for property taxes on a 320k building. Does that sound correct? Can anything be done about this? That's basically a 3.75% tax rate for Hamilton County. Whenever I do any google searches I don't see any rates that high. Seems astronomical to me.

[Remington Lyman]

Quote from @Timur Salikov:

Hey guys, 

I bought a 4 unit in Cincinnati in 2020. This month my mortgage payment jumped overnight from $2100 to $3000. Called the mortgage company and they said my insurance has gone up somewhat, but its mostly my property taxes. Then I did a Hamilton county auditor property search and saw my property value went from 167k to 320k, to the amount I bought it for a few years ago. So basically Ill be paying 12K a year for property taxes on a 320k building. Does that sound correct? Can anything be done about this? That's basically a 3.75% tax rate for Hamilton County. Whenever I do any google searches I don't see any rates that high. Seems astronomical to me.

 You should have gotten a letter to contest the increase. A lot of property owners missed this letter though