Property Taxes Spike
Hi All,
First time posting to BiggerPockets. I own a single family primary residence and a rental property, both in Cleveland, OH. One in Tremont, the other in Ohio City. I've noticed that going into 2023 my property taxes have spiked pretty dramatically. I see that the assessed value for 2023 on my rental has increased from $77k for years to my purchase price of $170k (purchased in 2020). That does make sense to me that it would change. The value on my primary residence went from $250k before I bought it to $334k this year (purchased for $260k in August of 2021). That one doesn't make as much sense to me.
All in all, my taxes have increased over $1600 and $760 respectively for the year.
Just curious if anyone has ideas of how to lower the tax burden on these properties, as $13k/year in property taxes is one of my largest expenses! I know that I could go to the county to try to discount the value of my primary residence, but is that even worth the effort?
Any ideas/recommendations would be appreciated! Thanks!